Coti continues to make an impact in the market. This is after weeks of price drops that have resulted in the cryptocurrency losing 37 per cent of its value. In today’s trading session, Coti is down by 6 per cent.
In my May 12 Coti analysis, I expected the prices to continue falling, partly due to the market conditions during that time. However, rather than prices continuing to fall, the cryptocurrency reversed the course during the late hours of the trading sessions. Since then, the prices have traded sideways. During that time, the prices have also made a significant move to the upside by forming a bearish flag, resulting in a 42 per cent gain.
Coti Price Prediction
In today’s trading session, Coti is down by 6 per cent, wiping yesterday’s gain. However, despite the current drop, the prices look to be trending upward and recovering from early session hours, where Coti had dropped by 13 per cent. The prices also look likely to continue with an in-session aggressive bullish move, which is likely to result in prices closing above the opening price.
Therefore, my Coti price prediction expects the prices to continue trending upwards in the late hours of the trading session. I expect the prices to hit the $0.12 price level between today and tomorrow’s trading sessions. If the prices close above the $0.12 price level, which is today’s opening price, I expect the bullish trend to carry on tomorrow. Such a high price close will also signal a likelihood that the prices will soon hit the $0.15 price level. Depending on the momentum and volatility of the crypto in the coming session, a possible $0.2 price level is also possible.
However, if the prices reverse the current bullish course and close the markets below the $0.104 price level, which is today’s lowest, then my trade will be invalidated. It will mean the resumption of the bearish trend. It will also mean a likelihood of the prices trading below the recent support level of $0.081.