Coin Edition - COTI has been trading within a range since the start of 2023, attempting to reclaim its red trendline as support. If successful, COTI may be able to break higher and rally via the green pathway toward the orange resistance near $0.1150.
COTI weekly price chart (Source: TradingView)
A weekly close above the red diagonal could potentially confirm a successful retest and provide bullish momentum for COTI. Unfortunately, COTI performed a weekly close below the red trendline, leading to a failed retest and subsequent price drop. It’s possible that after struggling to break higher, COTI may be attempting to flip the red diagonal back into resistance before it can rally further.
Coti is trading at $0.102, up by 0.67% on the day. The price has formed above its daily support at $0.101, which could potentially lead to a bounce higher if COTI reclaims the red trendline. If successful in this attempt, it is likely that traders may look for further opportunities as the green pathway would be back on the cards again.
With COTI near its overall resistance level of $0.1150, traders should keep a close eye on the price action in the near future to determine whether COTI will b…
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