- COTI has closed above a key support area, sustaining a bullish momentum.
- Current support has been consistent since the summer of 2022.
- COTI could climb towards $0.1 if bullish momentum is sustained.
The crypto analyst Rekt Capital has confirmed a bullish sentiment for COTI, the native token of the decentralized payment transaction network COTI.
While sharing a screenshot of his chart analysis and explaining the patterns, Rekt noted COTI’s price at $0.084915 to be above significant support. According to Rekt, COTI needed to establish a bullish momentum by displaying measurable stability around this region. If that happens, the price will climb toward the $0.1 level.
Recently, Rekt has paid close attention to COTI’s price development. In a post shared about 21 hours earlier, Rekt noted COTI’s price behavior around the $0.084861 level. A level that he considered being weekly support. Rekt predicted that the said level was critical to COTI’s future price development. Closing above the level would signify a bullish trend while closing on the other side would flip the support for resistance.
In the overall trend, Rekt believes the $0.084861 level to be critical in the scheme of things. Since the summer of 2022, the level has acted as a support for COTI/USD three out of the last four times it was tested. That qualifies it as a crucial level to consider under technical analysis.
COTI surged along with other cryptocurrencies at the beginning of the year, rallying from $0.05058 to $0.1235 before retracing to its current level. As of the time of writing, COTI traded at $0.08583, having gained 1.92% in the last 24 hours.
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Source: https://coinedition.com/crypto-analyst-predicts-bullish-coti-reversal-from-current-level/