COTI/USDT Chart Analysis



General Status:



• The chart has broken out of a long-term falling channel formation.


• The price, which touched the lower and upper trend lines during the previous intra-channel movements, showed a strong break and started an upward trend.



Target and Prices:



1. Short-Term Goals:


• 0.27 - 0.37 USDT: First potential resistance zones after the breakout.


2. Medium Term Goals:


• 0.65 - 0.85 USDT: Medium-term target ranges after the big breakout.


3. Long Term Goal:


• 1.00 - 1.15 USDT: Formation target and psychological resistance.



Support and Resistance Zones:



• Support Regions:


• 0.15 USDT: The bottom of the broken formation.


• 0.21 USDT: Current support level.


• Resistance Zones:


• 0.27 USDT: First resistance.


• 0.37 and 0.65 USDT: Medium-term strong resistances.



Indicators:



1. Moving Averages (MA):


• The 50 and 200-day moving averages are crossing upwards, supporting the uptrend.


2. RSI:


• Close to overbought zone, there is a risk of correction.


3. MACD:


• It has moved into positive territory, the upward momentum continues.



Formations and Formation Reversals:



• Falling Channel Breakout:


• The major channel has been broken and the price has entered a new uptrend.


• Symmetrical Triangle Formation:


• The recent compression has been broken upwards.



Trend Direction:



• In general, an upward trend prevails.


• A channel breakout may be the beginning of a long-term uptrend.



Strategy Proposal:



1. Short Term Strategy:


• Purchases can be made in movements above 0.21 USDT.


• The first target can be set as 0.27 and then 0.37 USDT.


2. Medium Term Strategy:


• After confirmation of the breakout, 0.50-0.65 USDT can be targeted.


• 0.15 USDT can be used as the stop-loss level.


3. Long-Term Strategy:


• Above 1.00 USDT can be targeted, but profit realizations should be made during this process.



Risks:



• The overbought zone in RSI and other indicators indicates a risk of correction.


• General market conditions and Bitcoin movements should be followed carefully.



In conclusion, COTI/USDT seems to have started an uptrend with a strong breakout pattern. However, caution should be exercised against corrections and stop-loss should be used.