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Cook Protocol Technical Analysis — How Much Will COOK be Worth in 2021?

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This 2021 Cook Protocol (COOK) Technical Analysis is based on the study of technical indicators. Below, we have outlined the key factors that contributed to our COOK price analysis.

Cook Protocol is developed on a cross-chain solution that sets out a generic asset management platform, enabling investors with a selection of asset management vehicles from fund managers. Moreover, funds can be managed passively or actively through whitelisted Decentralized Finance (DeFi) protocols.

For each investment fund, a unique LP token – proportional to their contribution to the fund – is offered to investors. Investors can divest the tokens at any time in exchange for the equivalent underlying asset.

Cook Protocol also has its native digital asset called Cook Token. In addition, the asset reached its all-time high of $0.355 on March 31, 2021.

COOK Current Market Position

According to CoinMarketCap, COOK is at $0.044 with a 24-hour trading volume of over $$730,329, at the time of writing this COOK technical analysis. This means the price of COOK has decreased by 3.76% in the last 24 hours.

For those interested in buying the token, COOK can be purchased and sold on MXC.COM, Gate.io, Hoo, and PancakeSwap.

COOK Technical Analysis 2021

Currently, COOK holds 2851th place on CoinMarketCap in terms of market capitalization. Do you think the latest upgrades, changes, and developments in the COOK blockchain can help the crypto’s price to reach higher? Now let’s proceed to the chart in this COOK price prediction article.

Cook Protocol Technical Analysis — How Much Will COOK be
COOK/USDT chart showing Descending Scallop pattern (Source: Gate.io)

Based on the chart above, the monthly time frame chart indicates the Descending Scallop pattern. Usually, this pattern will be followed by a downtrend position. However, the pattern can also change and move into an uptrend direction if the bearish market turns against the crypto. Meanwhile, this chart above took over a month for the pattern formation to take place.

As shown above, at the beginning of this period, COOK shifted from a bullish trend to bearish. This is a result of the huge supply that takes place during the period.

1621358826 347 Cook Protocol Technical Analysis — How Much Will COOK be
COOK MACD and Relative Strength Index (Source: Gate.io)

When it comes to Moving Average Convergence/Divergence (MACD), the MACD is about to perform a bullish crossover against the signal indicator. This means that traders and investors may expect a bullish day ahead once the bullish crossover takes place. However, if the MACD points towards a downward direction, it will be a different story.

Furthermore, the Relative Strength Index (RSI) is at level 40, this shows that COOK is nearing the oversold state. As a result, traders can trade with confidence without worrying about any major price reversal.

The chart below indicates the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of COOK.

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COOK 30-day SMA and 50-day EMA (Source: Gate.io)

Since the start of 2021, COOK’s price has seen more bullish moves which are greater than the previous one. More so, these are continued by fluctuations, consolidations, and corrections instantly. Taking this into account, COOK has a competitive market in 2021.

Conclusion

COOK 2021 technical analysis shows that cryptocurrency has a fantastic future ahead in 2021.  Also, the project looks promising as it has high aims, a use case, and clear goals that target a broad market.

Bullish COOK price prediction 2021 is $0.5. COOK could also reach a new all-time high price if investors have decided that COOK is a good investment in 2021. Furthermore, together with growing adoption, positive price predictions, and a community composed of thousands of retailers, COOK is likely to be a good investment this year.

FAQ

What is COOK?

Cook Protocol is developed on a cross-chain solution that establishes a generic asset management platform. It has its native digital asset called Cook Token.

How to buy COOK tokens?

Users can purchase COOK tokens from digital currency exchanges such as MXC.COM, and Gate.io

Will COOK Hit $0.5 soon?

COOK is a good investment in 2021. Best of all, COOK has a huge possibility of overtaking its prior ATH of $0.35 this year.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.





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