COTI (COTI) Technical Analysis 2021 for Crypto Traders
In COTI Technical Analysis 2021, we use past statistics, price analysis, RVOL, MA, and much other information about COTI to analyze the future trend of the cryptocurrency.
COTI is the first enterprise-grade digital fintech platform that eliminates all middlemen and allows any organization to build their own personal payment solution. And also, digitize any currency using our proprietary Trustchain protocol. It provides powerful features like Paypal and Alipay and allows businesses to create their own unique rules and ultimately own their payment system to save time, data and money.
COTI Current Market Status
According to CoinGecko, the COTI price is trading at $0.41 with a 24-hour trading volume of $286,089,601, at the time of writing. However, COTI has increased by 1.2% in the last 24 hours.
In addition, COTI has a circulating supply of 868,672,118 COTI coins. Currently, COTI trades in Binance, Huobi Global, HitBTC, Hotcoin Global, and Bitcoin.com Exchange.
COTI Technical Analysis 2021
COTI holds the 177th position on CoinGecko right now. The recent development and upgrades might push COTI to reach new heights. Now, let’s deep dive into the COTI technical analysis 2021. The weekly time frame chart of COTI is shown below.
Ascending scallops pattern is observed during a bullish rally. This pattern appears to be in the shape of a J that is slightly tilted to the right. A breakout above the pattern’s highest high is considered an upward breakout, while a breakout below the pattern’s low is considered a downward breakout.
More so, the theory explains that at the start of the pattern, there is a price drop. The drop is smaller, and it reverses back, resulting in a wider bottom. Following the reversal, the price continues to rise, and the entire pattern appears as a tilted J.
Currently, COTI trades in a range of $0.38. If the trend continues then it will lead to a further surge up to the $1.50 Level. If the trend reverses to the down side, then it will reach the support level at $0.09.
COTI RSI
The below chart shows the relative strength index (RSI) of COTI.
As shown in the above chart, RSI remains at 67.63. This shows that COTI’s price is nearly overbought state. This shows that traders have to trade carefully, however, major price reversal could take place.
COTI RVOL
The below chart shows the Relative Volume of COTI. It is an indicator that indicates to traders how the current trading volume has changed over a period of time compared to the previous trading volume.
Currently, the RVOL of COTI lies below the cutoff line which represents the weaker participants in the current trend.
COTI Moving Average
COTI’s Moving Average (MA) is shown in the chart below. MA supports traders to find trends.
Currently, COTI is in a bullish state. However, COTI price is closely above 50 MA (short-term), and it is now along with 200 MA. Possibly, COTI can also move above 200 MA (long-term) soon.
Once it moves above 200 MA level, it completely goes to a bullish state. Moreover, there is a high possibility of trend reversal at any time.
COTI Price Comparison With Bitcoin
The below chart shows the price comparison between COTI and BTC.
From the chart, we can identify the trend of the BTC and COTI is moving at the same level as the trend. This indicates when the price of BTC increases or decreases, the price of COTI also increases or decreases respectively.
Conclusion
With the ongoing developments and upgrades that are taking place within the COTI platform. COTI has a great future ahead in this crypto market. However, COTI can reach new heights.
Bullish COTI price prediction 2021 is $0.6. As mentioned above, it may reach great heights, however reaching $1.5 is also possible, if investors have decided that COTI is a good investment in 2021.
FAQ
COTI is one of the world’s first blockchain protocols optimized for decentralized payments. It is designed for use by merchants, governments, payment DApps, and stablecoin issuers.
COTI is listed on many cryptocurrency exchanges that include Binance, Huobi Global, HitBTC, Hotcoin Global, and Bitcoin.com Exchange.
With the ongoing developments and upgrades within the COTI platform, it has the high possibility of reaching its ATH soon.
Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
The post has appeared first on thenewscrypto.com
Read more: https://thenewscrypto.com/coti-technical-analysis-and-coti-price-analysis-2021-for-crypto-traders/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
