BTC $56794 -1.43% BUY ETH $4554.13 3.13% BUY XRP $0.9884 0.03% BUY Buy $WORTH Bitcoin Legal & Tax Resources Telegram Channels REVIEWS Crypto Mixer Reviews DeFi Project Reviews Exchange Reviews ICO Review & Rating IEO Reviews & Rating Project Reviews Contact Us Careers FOLLOW US ON: Advertise Contribute HOME / PRICE ANALYSIS COTI Price Analysis: The Dynamic Support Of 50 EMA Has Turned To Resistance Now; Is This A Start Of A Downtrend?? By Brian Bollinger Published 46 mins ago Updated 10 mins ago The COTI coin price indicated another bearish reversal when the price was rejected from the $0.67 resistance. However, this time retracement phase deepened more than expected and even breached the crucial support of $0.047. However, a positive news we have is ‘Coinbase’, one of the most trusted custodians now supporting COTI. ADVERTISEMENT Key technical points: The 200 EMA line stands as a crucial support level for the COTI coin price The intraday trading volume in the COTI coin is $173.8 Million, indicating a 16.34% hike. Source- COTI/USD chart by Tradingview The COTI coin price initiated this remarkable rally in august, which made a New-Time High of $0.675. After this, the coin went through a usual correction and recovery phase to continue its uptrend; however, the price couldn’t pass the higher high resistance and indicated another bearish reversal. On November 16th, the coin price breached the support of the previous lower high of $0.47 mark, suggesting even more fall for COTI. This deeper correction phase managed to obtain proper support from the 200 EMA line and is currently retracing back to retest the same level. While travelling in an uptrend, the COTI coin price received dynamic support from the daily 50 EMA line. However, with this bearish reversal. the coin broke down from this support EMA, and now it’s contributing as a resistance for the retest mentioned above. The Relative Strength Index(47) states a bearish sentiment within this coin. COTI/USD 4-hour Time Frame Chart Source- COTI/USD chart by Tradingview Contracting to the bearish signals noted above, the COTI coin price action projects a bullish outlook in this lower time frame. The coin price resonated in a falling parallel channel for the recent price fall. On November 29th, the price gave a bullish breakout from this pattern, suggesting a new rally. However, the price is still experiencing strong rejection from the $0.47, and its the critical point of our price analysis. If the price sustains below this resistance, the crypto traders can grab an excellent short opportunity in this coin; moreover, an extra confirmation will be obtained once the price breaks down from the daily 200 EMA. ADVERTISEMENT ✓ Share: TRENDING PRICE ANALYSIS Breaking: This Thiel-Backed Institutional Crypto Exchange is getting Traction, Here’s Why Breaking: Softbank Set to Invest $150 Million in Female Dominated Metaverse Project Zepeto Chinese Magazine Estimates Binance CEO’s Net Worth, Here’s the Catch Breaking; South Korea Set to Postpone Controversial Crypto Taxation to 2023 Breaking: Indian Finance Minister Confirms the New Crypto Bill to be Different from February’s Draft Shiba Inu (SHIB) Price Pumps 30% in the Wake of Kraken Listing, Can it Retest ATH? Ripple’s Latest Crypto Service for Financial Companies to Allow XRP Trading Shiba Inu Price Prediction: SHIB Rally Aims For A 74% To New Record Highs With Support From Kraken Bitcoin Price Analysis: BTC Trades Above $57K As MicroStrategy Extends The Adoption Curve Breaking: MicroStrategy Buys Additional 7,002 Bitcoin (BTC) Worth $414 Million Disclaimer About Author Loading Next Story ✕ English Portuguese Español CATEGORIES News Price Analysis CryptoGuru Project Reviews INTERVIEWS CONTACT Advertise Submit Press Release Write For Us Careers COMPANY About Us Privacy Policy Editorial Policy Sitemap FOLLOW US ON: CONTACT US Advertise Contribute © 2021 CoinGape Media About Us Privacy Policy Write For Us Advertise