CoW Protocol surges 23% as liquidity piles at $0.45: What happens now?

Key Points

1. COW's price surged 23% in 24 hours, reaching a key level at $0.46, with potential to rise further to $0.88 or $1 if the uptrend continues.

2. A double bottom formation at $0.27 signaled the end of a correction, but a drop below this level could threaten the bullish structure.

3. 71% of COW holders were in profit, with key resistance zones at $0.46-$0.73 and $0.73-$1.55, and support zones at $0.30-$0.38.

4. On-balance volume (OBV) improved from -$738M to -$91M, indicating growing buying pressure despite remaining in negative territory.

5. High leverage positions on Binance and Bybit, with $2.90M in short liquidations, could influence COW's price volatility.