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Reef Finance (REEF) and COTI Technical Analysis: What’s Next?

Analytics

cryptoknowmics.com 11 August 2021 12:26, UTC
  
Reading time: ~3 m

Reef Finance and COTI prices are within a bullish breakout pattern. REEF/USDT may soar to $0.035 while COTI/USDT is on the way to $0.25 in the short term.

Reef Finance (REEF)

The Polkadot-based product offers liquidity aggregation, adding automation to resolve present pain points in DeFi. REEF is useful for governance.

Past Performance of REEF

REEF bulls are undoubtedly in the driving seat—pumping.

Specifically, the token is trading within a bullish breakout pattern, resoundingly reversing the May 19 bear bar.

REEF is up four percent at the time of writing versus the greenback on the back of rising trading volumes.

Day-Ahead and What to Expect

The REEF/USDT token has reversed losses of the second half of May 2021, signaling the end of the bear reign from an Effort-versus-Results perspective.

Overly, the underlying buy momentum is strong now that bull bars are banding along the upper BB, a strength marker, supporting the uptrend.

A conclusive close above $0.02 with equally high trading volumes cements buyers, opening REEF crypto token to May 2021 highs of around $0.0035.

REEF/USDT Technical Analysis

REEF Price Daily Chart for Aug 11

Buyers are in control, reading from price action in the daily chart.

In a bullish breakout pattern, every low may offer a loading opportunity for aggressive bulls targeting $0.035 — May 2021 highs.

The reversal of the May 19 conspicuous bear bar marks the end of selling pressure from a volume analysis perspective.

COTI

The platform's blockchain is unique. By using chaining, it guarantees the security and privacy of its users. COTI is the protocol's internal currency.

Past Performance of COTI

The tables are turning. Buyers are now flipping sellers as per the candlestick arrangement in the daily chart.

Presently, the coin is trading in a bullish breakout pattern inside early June 2021 territory.

COTI is now up an impressive 10 percent, propped by rising trading volumes.

Day-Ahead and What to Expect

COTI prices are roaring.

Considering the level of participation and arrangement in the daily chart, every low is technically a loading opportunity as long as prices hold above $0.15.

At this pace, COTI prices could race towards $0.25 in the medium in a buy trend continuation pattern after deep corrections in Q2 2021.

COTI/USDT Technical Analysis

COTI Price Daily Chart for Aug 11

From the daily chart, COTI buyers are taking the lead.

As bull bars band along the upper BB, the 20-day moving average inclines positively, and COTI/USDT trade in a bullish breakout pattern, every low may offer a loading opportunity for aggressive traders.

In this case, COTI buyers can target $0.25 in the short-term as long as prices trend above $0.15.


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