COTI Crypto – Price Update and Technical Analysis! Countdown to Breakout?
I talked about kodi before which is a decentralized payment system based on the cardano ecosystem, and it is very likely that were going to attempt another breakout of this 40 cent level. Very soon i mean ive been making videos for the last couple of days on kodi talked about od cody when we were down here at some point: um 13 cents. I think that was a really good time to buy people asking. Is it still? Is it too late now? To be honest, i cant answer that not financial advice, it all depends on your investment horizon and everything, but i bought im buying because i invest long term anyway, but i also think that were going to get do another attempt of this 40 cent level very soon And if we break through that, we can definitely get to the all time high, which is 45 to 50 cent in the next run, and if we get through the all time high i mean, i think, like the sky is the limit there isnt really a lot Coming then so, lets see what were currently forming here on the daily is a huge cup and handle so weve got that cup shape here, which is bullish, and the handle currently were currently in the formation of the handle were about to complete that formation of the Handle you can see that we already attempted a breakout of 40 cent. We dropped off, we attempted another breakout didnt manage to get through, but – and that is what we saw with bitcoin and its now broken out of the um above the 50 500.
So weve seen that weve seen that with other cryptos weve seen it with algorand. We are making higher lows and we are getting closer to this horizontal resistance line. Whenever you get a horizontal line, that is very good to trade, its very clear on the chart. So we we see higher lows, we made attempts to break out didnt manage to get there, but we cant pull away from that level anymore. So you can see the high the low is getting higher and higher and the sellers are really weak. We cant really see any red candles here anymore and that upward movement, just a very small one, that trend line is still valid and just going up here and in the next it cant take more than a few days. Well, do another breakout attempt, but that could be imminent. That could be imminent were getting squeezed into this apex between that 40 cent line, um or ‘ to be on to be very accurate, um its not very clear to to put onto the charge, probably more like 40 um, but this is the daily. So we have more clarity when we go down to the four hour and the hourly chart um. But what is important were going to do another breakout attempt and what we can clearly see. The green candles are getting bigger. Actually you can see that from down here. The green candles are getting bigger, were getting were gaining momentum. Weve got support here of these moving averages and its just looking so bullish were really in this ascending triangle, which is a bullish pattern as well were in a cup and handle shape so thats.
Why? I bought um some more yesterday and um im investing in the long term anyway, but its looking all from a chart point of view, its looking so bullish and even though, in the daily we are sort of in the red at the moment on the macd. I think were going to make a bullish cross over here again very soon, and i say that because it is looking more bullish on the shorter term on the four hour see that we dropped off this um nearly getting into the red territory. But with the current upward movement, i think we actually will get back up so that you can see that later on the daily as well and the macd. The rsi is going up as well, which is good in an uptrend, clearly showing that – and we can already see here on the hourly that we try to get into the red zone on the macd but were sort of getting now back into the green zone. Um. On the histogram – and we are – we have made another bullish cross over here on the hourly, so you will later see that on the 4 hour and then the daily as well, if that uptrend continues – and the good thing is here on the hourly – we are getting Back above the 50 on the rsi, so were getting back into bullish territory. So if we take a closer look here on the hourly, what were actually doing um, you can really see that were getting squeezed into this range here and were just you know here.
Actually, on the hourly, we have a very clear micro, ascending triangle, so youve got a horizontal support line here, a resistance line here and then and ascending um ascending support line. So there will be something happening in the next few hours because we are getting squeezed into this apex here and then from here we might attempt the breakout to 40 cents right thats, pretty much everything. Quick summary. Let me know what you think: im extremely bullish on kodi at the moment, especially from you know. Fundamentally anyway, and i talked about that in previous videos, but from a technical side of things as well. I think it sort of decoupled itself a little bit from from cardano anyway. I think its doing its own thing. Of course there are relations, but this is very clear. Weve got a horizontal line here, which we dont have on the cardano chart, and we see these ascending triangles, which we also dont, see with cardano at the moment. I think this is even looking more bullish than cardano on the chart at the moment. Right. So quick update. That was hope. You liked it. If you did, please smash the like button and if you want to follow me on this crypto journey.