We are looking for a blog post (500 words) about the (COTI) technical analysis 2021. We would like to know the author’s opinion, and what he/she thinks will happen with (COTI) by 2021.
COTI (COTI) is a cross-chain protocol that enables the transfer of value and payments across blockchains. It’s a new platform that connects public and private blockchains and enables seamless value transfer and payments. It’s a widely used protocol by many of the largest blockchains, such as Bitcoin and Ethereum, and was used on the Cofound.it crowdfunding platform. COTI is written in Golang and is powered by Ethereum Virtual Machine (EVM).
COTI (COTI) is a cryptocurrency having it’s own blockchain protocol. COTI implements the Qubic protocol in it’s blockchain, making it’s blockchain one of the first to implement it’s own blockchain. COTI is also one of the newest cryptos to hit the markets, with various exchanges adding support for it’s trades, it is expected to become a powerful force in the crypto markets. Here is our Technical Analysis of COTI (COTI) for Crypto Traders for the year 2021.
We utilize historical data, price analysis, RVOL, MA, and other information about COTI to evaluate the cryptocurrency’s future trajectory in 2021 COTI Technical Analysis.
COTI is the first enterprise-grade digital finance platform that removes all intermediaries and enables any business to create their own custom payment solution. Also, utilizing our unique Trustchain protocol, you may digitize any money. It includes strong features like as Paypal and Alipay, allowing companies to set their own custom rules and ultimately control their payment system, saving time, data, and money.
COTI Market Situation at the Moment
At the time of writing, the COTI price was $0.41, with a 24-hour trading volume of $286,089,601 according to CoinGecko. COTI, on the other hand, has risen by 1.2 percent in the past 24 hours.
In addition, there are 868,672,118 COTI coins in circulation. COTI is now available for purchase on the Binance, Huobi Global, HitBTC, Hotcoin Global, and Bitcoin.com Exchanges.
COTI Technical Analysis 2021
At the moment, COTI is ranked 177th on CoinGecko. COTI may be pushed to new heights by current advancements and improvements. Let’s take a closer look at the COTI technical analysis for 2021. COTI’s weekly time frame chart is shown below.
Ascending Scallop Pattern (COTI/USDT) (Source: Tradingview)
During a bullish rise, the ascending scallops pattern may be seen. This pattern seems to be shaped like a J with a little rightward slant. An upward breakout is one that occurs above the pattern’s highest high, while a downward breakout occurs below the pattern’s lowest low.
Furthermore, the hypothesis explains why there is a price decrease at the commencement of the pattern. The descent is smaller, and it reverses, giving the bottom a broader appearance. The price continues to climb after the reversal, and the whole pattern resembles a slanted J.
COTI is now trading in a $0.38 range. If the current trend continues, the price will rise to the $1.50 level. If the trend continues to the downside, the support level of $0.09 will be reached.
COTI’s relative strength index (RSI) is shown in the graph below.
COTI RSI RSI RSI RSI RSI (Image courtesy of TradingView)
The RSI is still at 67.63, as seen in the chart above. COTI’s price is almost overbought, as shown by this. This demonstrates the need of traders trading cautiously, since a big price reversal may occur.
COTI’s Relative Volume is shown in the graph below. It’s a metric that shows traders how the current trading volume has evolved over time in comparison to the prior trading volume.
COTI’s RVOL is now below the cutoff line, indicating the weaker players in the current trend.
Moving Average of COTI
The chart below depicts COTI’s Moving Average (MA). MA aids traders in identifying patterns.
MA COTI (Image courtesy of TradingView)
COTI is now in a bullish trend. COTI, on the other hand, is trading close to the 50 MA (short-term), and it is currently trading around the 200 MA. COTI may be able to rise over 200 MA (long-term) in the near future.
It fully changes to a bullish condition if it climbs over the 200 MA level. Furthermore, there is a significant chance of a trend reversal at any moment.
COTI vs. Bitcoin: A Comparison
The price comparison between COTI and BTC is shown in the graph below.
Chart comparing the prices of COTI and BTC (Source: TradingView)
The trend of the BTC can be seen on the chart, and COTI is going in lockstep with the trend. This means that when the price of BTC rises or falls, the price of COTI rises or falls as well.
With the continuing enhancements and improvements to the COTI platform. COTI has a bright future in the cryptocurrency industry. COTI, on the other hand, has the potential to reach new heights.
$0.6 is a bullish COTI price forecast for 2021. As previously said, it has the potential to reach tremendous heights, but it may also reach $1.5 if investors believe that COTI is a worthwhile investment in 2021.
What exactly is COTI?
COTI is one of the world’s first decentralized payment-focused blockchain systems. Merchants, governments, payment DApps, and stablecoin issuers may all utilize it.
COTI is available for purchase in a variety of places.
Many cryptocurrency exchanges, including Binance, Huobi Global, HitBTC, Hotcoin Global, and Bitcoin.com Exchange, have COTI listed.
Will COTI soon hit a new ATH?
With the COTI platform’s continuing advancements and enhancements, it has a good chance of achieving its ATH shortly.
Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.