COTI Crypto – Technical Analysis of this Cardano Project and Price Update and Prediction!
I want to talk about a partnership or a platform that is built on the cardano blockchain, which is kodi. He talked about code, the end of june, and you can take a look at that video that i did earlier back in june um. If you follow the link at the top of the video now um. I encourage you to watch that first because it talks about that video talks about a lot of the fundamentals. Why? I think the project has a lot of potential, and i know since then a lot of new subscribers have come in. So many of you guys wont have seen that video, but i think it was pretty a pretty good one actually back then, and i encourage you just to watch it because in this video i dont really want to talk about a lot about the fundamentals. I you know, nothing fundamentally has changed really if anything um. It is getting more interesting because you know cardano, smart contracts are being rolled out and everything, but we want to take a look at the price because i cant cody has recently broken out and i think its going to break out further. I think there is much more potential, i think, its still a good price, but as always not financial advice. Yes, so please always do your own research, so cody i talked about it is a price chart. I talked about it when we were back here in june, where the price was 13 cents.
We are now at 38. back then it was number 246 by market cap. Its now 170 shows you that its outperforming some of the other cryptocurrency projects um. Of course, no wonder its part of the cardinal blockchain ecosystem, so of course, as smart contracts are being rolled out and cardano is getting more popular, this one is getting more popular as well. There might still be a possibility to get in at a good price. At least for me, im going to buy a bit more um, especially if you take a look at 8x, which is another project only built on cardano. This has, like you know from lets, say from from back in june, probably need to take a look back in june. We were somewhere cant even go back that far, i think, but we were something at 26 cents. We are now at two dollars. Roughly you know just below two dollars and cody. You know isnt there, yet it is only like 3x uh from then so. For me, there is much more potential in koti, especially it has a genuine use case anyway, its not just a decks, its actually a payment platform, and everything is getting more digitalized and its recently seen here in august, a really massive boost, so its consolidated since then. So it might be a good time to get in thats. Why im going to do it um i bought some back then im going to buy some more um.
I need to see where i can buy it. I think i bought it on finance back then, but maybe now i can buy it somewhere else um and we take a look at the price now. So anybody who listened to this and bought some at the time was really good, um good opportunity. So, where are we now we are now here? This is the four hour chart of kodi and what we can see clearly, i think it hasnt seen that boost. Yet i think if we compare it, for example, to the cardinal chart um you know, cardano is cardano. Is already up up here somewhere um this one hasnt seen new all time high, you know were forming a cup and handle here clearly now so weve got that cup formation consolidation yeah! This is now the handle, and this is a clear breakout point if we get above this level, thats a clear breakout for me so were on the four hour chart now so lets just um lets just see where, where we are then – and i need to draw A line here, thats a clear breakout point guys if we manage to get above this level. This is so clear: 49 cents. This is so clear. You can clearly see that here here and here these were all resistance levels, and this is such a clear point um. So there is even now scope to get up there. I think that would definitely be another attempt from 37 to 48, even if you take profits at 48.
You know that would be a good trade, at least for me, but not financial advice. But then you know some people might want to wait for the breakout above 49 cents. That would be another good trade, in my opinion, because then you can definitely get to the all time high. Is it the all time high um at 60 cents um but yeah from now to 60 cents? I mean that is a big big potential. However, i think, depending on you know, is the closer we move to the 12th of september. I think this one will will kick off further. I mean nobody can promise it, but looking at this bullish formation cup and handle very bullish, i think there will be a breakout attempted, i think well get through um looking at the fundamentals and even if we dont get through at this stage long term. This is for me, a really really good investment and um. As i said, i just need to repeat it, not financial advice because im a bit biased, maybe as well, but i really like the fundamentals. I like the chart, how it looks. You know that we really have this very clear in this case, really a very clear you rarely get them very clear, but this is so clear, this cup and handle formation. This is so clear and we can very clearly also see here this um this handle currently forming um wow, i mean for me, um, im gon na buy more today actually um.
If we take a look at the or the daily. This is the four hour chart. If we look at it daily when we can see where were coming from, as always with these projects, oftentimes the earlier you get in the better, but we can so clearly see that cup and handle working out um. So on the on the daily here. Lets. Take a look were, above all the moving averages back. When i did that video in june, we were actually below all the moving averages, which was probably a good time to buy. We were nearly in oversold territory on the rsi im gon na. Take the stochastic out here what i want to show you is the macd. The macd has made a bearish cross recently, but that was because we were consolidating, after that huge pump here to 49 cents, um, which looking back was a clear resistance level. Looking at previous resistances and however, this is seems to be turning now again after weve seen a big pump in the last few days, and the good thing is, the rsi is not in overbought territory yet so we seem to be going up again. Yeah, there is scope to the upside again from an rsi point of view, and what is really nice is that this 20 day moving average the green line yeah this um green line here – is providing support. So you can clearly see how the price bounced off the daily 20 day, moving average thats providing support.
I dont see that trend slowing down in any way at the moment, which is confirmed by the rsi we can see where we are coming from. We came from here got a steeper trend now so were actually moving up, and i think cardano is actually like doing this, so we could, if we say something could be happening now. We could see an even even steeper trend to the upside, and i dont see it slowing down it in any way at the moment, very strong, green candle at the moment and when i finish this video im going to buy some more um im, not going to Wait for the breakout, because you know even if we get rejected again at 49, so i cant promise. We we break through the 49 cent level, but even if we get rejected um, i will hold them long term. I mean i bought some at 13 cents. I dont know how many of you guys did the same or definitely before today, because this is just a project with a lot of potential. For me, cant really see any major resistance levels before us getting to the 49, which is probably why we had that huge pump. Here i mean there might be one here like at 40 cents yeah there might be one um yeah. We had that before havent. We so 40 cents, its probably another resistance level where we here, where we had some resistance here before yeah.
You can clearly see that here, but the overall trend is to the upside, and even you know all in there. We had resistance here as well, and this is daily bias as well, but all the time frames are showing um an uptrend. I just showed you lets just double check that, but we can see it on the hourly and thats, obviously hourly on the hourly. We are, above all, the moving averages on the four hour chart. We just checked. We were on the daily we just checked. We were lets, take a look at the just week. The weekly need to get back to the weekly and on the weekly as well. Above all, the moving averages, um yeah, very interesting – i cant really say anything else. We have even made that bullish cross here on the macd um on the 16th of august. I think so. That means that is where the macd line crossed the zero line above the zero line, and also we have a green histogram. For me, i mean looking at the potential and the chart big potential, its going up at the moment im going to transfer some funds now and buy some more kodi all right. Let me know if youre doing the same again, not financial advice. I hope you appreciate the update a lot of you guys wanted to hear some more about cardano partnerships and projects. So there is one cody, because i talked about it before um and yeah.
I hope you liked it.