COTI is exhibiting upward movement towards a key resistance level on the 4-hour chart, with rising volume indicating a potential breakout.
Rising Momentum Toward Resistance
The 4-hour chart shows COTI grinding upward from an early August low of $0.048, forming consistent higher lows. This steady structure reflects strong buying demand over recent sessions. The move has brought price into contact with a multi-week descending resistance line from late July. A tweet from CryptoBull_360 noted that "#COTI is getting ready for a massive breakout from the resistance zone in 4Hr TF."
Technical Structure and Breakout Potential
The market appears to be completing an ascending triangle formation, a pattern often linked with upward continuation. Price action has been tightening beneath resistance, with buying pressure gradually absorbing sell orders. The Volume Profile shows a concentration of recent trading activity below current levels. This suggests reduced overhead supply, allowing a confirmed breakout to advance without heavy resistance.
Price Levels and Risk Parameters
As of writing, COTI is trading at the price of $0.05449, a 10.17 percent decrease in the course of the last 24 hours but an increase by 0.20 percent in the course of the last week. Nonetheless, the structure of the 4-hour chart holds up short-term weakness on condition that support holds over $0.055. A confirmed breakout could target the $0.083 region, representing a gain of over 25% from the breakout level.
Traders are closely watching both breakout confirmation and invalidation levels, as the future dynamics of COTI will depend on whether the price can overcome critical resistance.
