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The price movement in the COTIUSDT daily market suggests that price activity will likely attract considerable upside momentum. This can be seen through the indications provided by technical indicators applied to the market, signaling that bullish activity is gaining ground. Let’s explore this further below.
Price action in the COTIUSDT daily market has resumed an upward trajectory after a brief period of consolidation. This consolidation occurred below the middle Bollinger Band. Additionally, the upper and lower Bollinger Bands had contracted, signaling a gain in momentum, which resulted in an upward thrust in prices.
The ongoing session has continued this trend as upside forces dominate. Furthermore, the price candles are brushing against the uppermost Bollinger Band, while the Stochastic Relative Strength Index (Stochastic RSI) lines continue to rise toward the overbought region. These indicators suggest that price action has the potential to extend further upward.
The COTIUSDT Market Remains Strongly Bullish
The COTIUSDT 4-hour market has remained bullish for eight consecutive sessions. Although there have been some pauses, none have resulted in a significant bearish move as buyers continue to scoop into the market. This has kept the market above the upper Bollinger Band. Meanwhile, the Stochastic RSI lines have reached the 100 mark in the overbought region.
Additionally, the lines are dragging sideways, indicating that upward momentum remains strong. Although, traders should anticipate a potential retracement, but the market seems poised to hit the next technical resistance. Therefore, traders can continue using crypto signals targeting the $0.1200 price level.
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