COTI Tests $0.065 Resistance Amid 25.0% Upside Potential

COTI is currently testing a critical resistance zone on the 4-hour chart near the $0.065 level, a key area that has historically acted as a ceiling for the asset’s price. The market has shown increasing buying pressure in recent sessions, with volume momentum building as the price approaches this pivotal level. A confirmed breakout above $0.065 could signal a sharp move toward $0.083, representing over 25% upside from the resistance level [1].

The price has been forming a consistent pattern of higher lows since early August, rising from a low of $0.048 and converging toward the descending resistance line from late July. This tightening price action suggests the market is consolidating ahead of a potential breakout, with the 4-hour chart displaying signs of strong demand. The ascending triangle structure is particularly notable in this context, as it is a classic continuation pattern often followed by a directional move [1].

According to CryptoBull_360, a strong flip off from the resistance zone could trigger a massive breakout, reinforcing the possibility of rapid upward movement if buyers manage to secure a close above the key level [1]. The volume profile further supports this possibility, showing reduced overhead supply above the breakout point, which could allow for a smoother and potentially accelerated move higher.

However, the current price of $0.05449 reflects a 10.17% decline over the past 24 hours, indicating recent short-term weakness. Traders are closely monitoring whether the $0.055 level holds as support, which would be crucial for maintaining the bullish structure. If the resistance fails to break, the price could retrace to test this support level again, potentially altering the market’s near-term trajectory [1].

A confirmed breakout would align with the measured move of the triangle pattern and could set the stage for a rally toward $0.083. Conversely, a breakdown below the support zone could negate the bullish configuration and introduce new downward pressure. This dynamic makes the current price action particularly important for traders and investors, who are observing both confirmation and invalidation levels with heightened interest [1].

As the price continues to hover near the critical $0.065 resistance, the outcome will likely be determined by how buyers and sellers react to the approaching breakout zone. Volume and closing action will be key indicators of market direction, with traders advised to remain cautious given the high volatility associated with such technical inflection points [1].

Source: [1] Floki Fear and Greed Index | Multiple Timeframes (https://cfgi.io/floki-fear-greed-index/)