COTI Coti Pay: 1M Chart ReviewHello friends, today you can review the technical analysis idea on a 1M linear scale chart for COTI (COTIUSDT).
COTI Pay price on a monthly chart moved past the recent resistance and looks to head higher. Fibonacci Retracement levels shown along with 200 SMA and RSI.
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Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
Cotipay
COTI 1D Wanted a price of $2.20, but it could be $0.23Today we will consider the trading pair COTIUSDT
They say that the COTI project has great prospects, because it is an ecosystem designed specifically to solve problems associated with traditional financial services. The COTI platform helps structures and organizations save time and money, solving issues such as the digitization of any currency or the creation of a payment system and others.
Whether it's true or not, it's up to you to decide, we are used to trading what we see on the chart.
On the chart of COTIUSDT we see not a confident update of the absolute maximum of the price. And all this growth was associate with the signing of an agreement on cooperation with Adapay or not?. But it has not been launched yet, and it is not known whether it will be launched in time, but the price behavior on the chart will tell us everything in time).
For a confident long it is necessary that COTIUSD price will not fall below the area of $0.45-0.55 . Under these conditions, the way will be opened for the growth up to $0.90 to begin with.
Then there may be a consolidation, which we will have to analyze separately what will happen in it.
If all cards will converge, and news background will be cracking from the positive, the cost of a coin COTI quietly can grow to the range of $ 1.90-2.20
If you see weakness in COTIUSDT pair, you will see that buyers barely keep it in the range of $0.45-0.55 — run away from it, because lower, the level of $0.24-0.25 will draw price with a magnet
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COTI. Room for upside?Chartwise COTI looks reasonable. Price is respecting the ascending supportline, despite the market correction yesterday. As long as RSI can stay up/above 50 it looks like price can move upwards pretty easy. Only thing that concerns me is the A/D divergence from price. This indicates COTI is (heavily) distributed which can indicate price is held down (artificially). As long as distribution remains elevated, i expect price to remain suppressed.
🌠COTI Mainnet 2.0 - C&H / Inverted H&S"We’re excited to announce that COTI’s Mainnet 2.0 will go live on November 2nd, 2021 at 2 pm UTC."
This is probably one of the best-looking charts right now. There are two very clear price patterns visible on the daily chart, the price is currently in its all-time-highs levels and now we've just heard the positive news. All signs are telling us that COTI is set to enter a new price discovery phase very soon.
Entry: buy at bottom trendline of this handle (flag) -- or buy once the price breaks out of it-- or -- buy later on a local pullback
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About COTI:
COTI is one of the world’s first blockchain protocols that is optimized for decentralized payments and designed for use by merchants, governments, payment DApps and stablecoin issuers.
COTI Pay is the first application. It describes itself as a fully encompassing finance on the blockchain. The COTI Group launched in March of 2017, while the Staking Platform Launched on Jan. 1, 2020.
It is an ecosystem that is designed specifically to meet all of the challenges associated with traditional finance, including latency, fees, global inclusion and risks. This is done through the introduction of the DAG-based protocol as well as infrastructure that is completely scalable, private, inclusive and fast.
Source: coinmarketcap
COTI, not looking bullis atmOn the D1 COTI broke out of the handle and looking for continuation. RSI indicates bearish divergence, Stochastic overbought .Note the yellow A/D line diverging, indicating large outflow of money. 0.60c is support, but i'm not optimistic this will hold if COTI drops more. Not to bullish (for now)
COTI / USDTCOTI / USDT: Technically, we are still in the downtrend here.
Coti just had some positive news, and looks like the project is developing pretty fast: with the debit cards, partnership with Cardano (ADA Pay) and so on.
However, after the previous massive move, correction is still in place.
We need to make sure we have really broken out of the trendline and the down trend is over.
Fundamentally, I think this project has good potential, medium market cap and nice partnerships on the horizon.
Happy trading everyone! And please, always dyor :)