It is, but it's closer than you might think after it's found its way down the side of the engine. Taste is a dead giveaway if you want to go there haha.
Coolant is red too and a lot of leaks will find their way to the bottom of the bellhousing which could make you leap to transmission.
I just fixed a leak like this - thought it was trans pump seal at first, turned out to be a coolant line on the firewall.