Market Overview for CoW Protocol/USDC (COWUSDC) – 24-Hour Summary

• COWUSDC traded in a 24-hour range of $0.3262 to $0.3468 with a close of $0.3428 on 2025-09-18 at 12:00 ET
• Price action showed a bullish consolidation pattern late in the day, with a 15-minute close at a 24-hour high
• Volume spiked significantly during the late ET hours, confirming strength in the recent rally
• RSI and MACD suggested moderate momentum with no clear overbought or oversold signals
• Volatility remained within Bollinger Bands, with a minor expansion observed during the key breakouts

At 12:00 ET on September 17, CoW Protocol/USDC (COWUSDC) opened at $0.3291 and closed at $0.3428 on 12:00 ET the next day. The 24-hour range was $0.3262 to $0.3468, with total volume of 121,950.8 and turnover of approximately $41,540. The price action showed a gradual bullish tilt, particularly from 18:00 to 23:45 ET, where multiple bullish candles and higher highs were formed.

Key support levels appear near $0.335 and $0.329, with a strong resistance cluster at $0.3435–$0.345. A bullish engulfing pattern formed around 19:45 ET, and a doji was noted at 23:15 ET, signaling potential consolidation. The price then closed near a 24-hour high, indicating a possible reversal in bearish momentum.

Moving averages on the 15-minute chart showed the price above both 20-EMA and 50-EMA for much of the day. The 50-EMA acted as a dynamic support during the early hours, while the 20-EMA pulled upward as the price trended higher. Daily moving averages (50/100/200) are not directly visible but likely showed a mixed bias depending on the prior week’s context. RSI stayed in neutral to slightly bullish territory, peaking at ~58 in the late ET hours, and MACD crossed into positive territory with a moderate histogram divergence.

Bollinger Bands reflected moderate volatility with the price spending most of the 24-hour window within the middle and upper band. A minor expansion occurred during the 19:00–21:00 ET period as the price moved up sharply. The volume pattern showed significant confirmation during this time, with a peak of ~19,010.0 at 22:30 ET.

Backtest Hypothesis

The backtest strategy focuses on short-term bullish setups using a combination of the 20-EMA and RSI. The hypothesis is that when the price crosses above the 20-EMA on the 15-minute chart and RSI confirms by moving above 50, the trade is entered with a stop just below the nearest swing low and a target at the next resistance. Given the recent bullish structure and confirmation from RSI, such a setup appears viable for the next 24 hours, particularly if the price remains above $0.341. However, a break below $0.339 could negate the setup and shift bias toward a consolidation or bearish reversal.