🚀 $COTI Trending Alert: Bullish Momentum or Resistance Trap? ⚡
COTI is currently making waves on Binance, recently surging +15.40% to hit a local high of 0.1673. Despite the broader market's volatility, it remains a hot topic on Binance Square as traders watch for a major trend shift.
🔍 Technical Breakdown:
Current Status: After hitting a recent high, the price is pulling back to a critical support zone.
MACD: Attempting a bullish crossover, though volume needs to remain high to confirm a sustainable move.
RSI(6): Currently in the 30-70 neutral zone. This suggests the initial "overheated" pump has cooled off, providing room for another leg up if support holds.
Patterns: On daily timeframes, $COTI is forming a clean ascending triangle, which is historically a bullish continuation pattern.
📉 Trade Setup
🟢 Long Setup (Support Bounce)
Entry Zone: $0.150 - $0.155 (Near the secondary support level).
Target 1: $0.180 (Key breakout point).
Target 2: $0.200 (Psychological resistance).
Stop Loss: $0.142 (Below recent structural support).
🔴 Short Setup (Trendline Rejection)
Entry Zone: $0.170 - $0.175 (Near the descending trendline).
Target 1: $0.150
Target 2: $0.130 (Retest of previous local lows).
Stop Loss: $0.185
💡 Summary: COTI is showing strong resilience compared to other Layer 1 and payment tokens. If it can successfully break and retest the 0.180 level, it could open the doors for a much larger rally toward 2024 peaks.
