Cow Protocol (COW) Stays on a Bullish Path

The Cow Protocol market has been able to register another price increase of about 10.74% so far today. This has made it the second-best-performing crypto as of the time of writing.

COW Statistics

Current Price: $0.1740

Market Capitalization: $98.02M

Circulating Supply: 563.21M

Total Supply: 1B

CoinMarketCap Rank: 197

Key Levels

Resistance: $0.2000, $0.2500, $0.3000

Support: $0.1500, $0.1250, $0.1000

COW Buyers Are Optimistic

The Cow Protocol market has been able to see a continued and sustained retracement upward. As such, the market has been moving on an upward path for the second consecutive session. As a result, this token now trades above the 9-day Exponential Moving Average (EMA) line.

Likewise, the Stochastic Relative Strength Index (SRSI) indicator lines are rising convincingly in an upward trajectory. The terminal part of the SRSI indicator lines can already be seen rising past the 50 threshold level. As such, this market still seems ready to proceed higher.

Cowy Protocol Is Heading Higher

On the 4-hour price chart, one can observe that price candles are standing green and bold above the 9-day EMA curve. Even the price candle corresponding to the current session remains solidly bullish.

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The Cow token seems to be demonstrating steady growth. As a result, it appears buyers are more comfortable holding the coin rather than panic selling. This may form something solid for this asset in the market.

Cow Protocol Is Heading Higher (Continued)

Similarly, the SRSI indicator here has been rising steadily over the past sessions and recently delivered an upside crossover in the overbought zone. The terminal of the indicator remains quite short, and, as such, shows that upside momentum may remain dominant. Consequently, this market may hit the $0.2000 price level with some momentum.

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