COTI/USDT Price Increases by Over 7% to Become Second Most Gainful Coin

The COTI/USDT market has continued its recent upward retracement from the previous session, pushing it to claim the second spot on today’s crypto daily top movers list. However, signs suggest that price movement may already be encountering resistance. Let’s examine the ongoing session and the outlook for subsequent sessions.

COTI Statistics:
COTI Price: $0.1047
Market Capitalization: $180,151,437
Circulating Supply: 2,000,000,000
Total Supply: 2,000,000,000
CoinMarketCap Rank: 251

Key Price Levels:
Resistance: $0.1150, $0.1300, $0.1450
Support: $0.1000, $0.0850, $0.0700

COTI/USDT Market Shows Signs of Weakness

The COTI/USDT market rebounded in the previous session, with today’s session continuing that momentum. This occurs while price action remains below the lower limit of the Bollinger Bands (BB) indicator. As a result, bearish traders seem to be gaining momentum, causing downward pressure on the session.

The appearance of an upper shadow on the latest price candle confirms the presence of selling forces. However, the Stochastic Relative Strength Index (Stochastic RSI) lines are still rising from the oversold region, indicating that bullish momentum may still influence the market.

COTI/USDT Price Explosion Faces a Challenge

In the COTI/USDT 4-hour market, price action attempted an upward breakout, as seen with the market surge following a contraction in the BB indicator. This move met moderate rejection at the upper limit of the BB indicator, leaving a noticeable upper shadow. At the same time, the Stochastic RSI lines are already in the oversold region, and both lines have converged at this limit.

For further upward movement, these lines would need to drift sideways. Therefore, traders relying on crypto signals targeting price levels of $0.1100 and above should exercise caution, as the market may face challenges in reaching that target.

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