We will be conducting a macro analysis between the three competitors UTK, COTI, and REQ while analyzing their technical status and comparing all three together in the end. 


 

UTK/USDT

(Click the image for higher resolution)

 

UTK has recently broken down local uptrend support after bouncing from a key-area and retested the key-area again. 

As just mentioned above, UTK retested the key-area as shown in the chart for a second time with a more significant bounce in between. This is technically looking like a double bottom on little higher timeframes. Especially seeing a bounce on this snapshot, it is slowly but surely confirming the support and the double bottom structure. 

For such a double bottom reversal structure to work out entirely, UTK would have to reach the red key-area and reclaim it as a support. Nevertheless, since the first valley was round and long-lasting, the second valley mostly follows a V-shape, with a steep reversal and pump to the resistance. 

Looking at technical indicators, we can see MKAST Algorithm clearly showing a buy-condition that confirms the narrative of a potential bounce. Also, the MKAST Index is showing strength while increasing at 9/15 points and crossing above its ALMA. 

 

COTI/USDT

(Click the image for higher resolution)

 

COTI has failed its possible reversal structure and went down to the lower key-area of support, where it is trading right now, hoping for a bounce and a soon reversal. 

Just as mentioned above, COTI failed the wedge reversal structure and moved very quickly and in a relatively non-appealing way to the downside. Currently, it is trading at the most crucial key-area of previous resistance and support. This area is very highly important and is the “Last Resort” of COTI. 

Looking at technical indicators, we can see the MKAST Algorithm still in a long-lasting sell-condition, which is expected.

The price is currently above the LenLen Ribbon, which could become support and support the bounce. 

The MKAST Index has shot up from 0 to 7/15 points and shows the strength of multiple conditions at the same time. This is further support and confirmation for a possible bounce. 

 

 

REQ/USD

(Click the image for higher resolution)

 

REQ already failed its first wedge reversal and is currently switching into a bigger falling wedge, leading to an actual reversal. The most vital sign inside of this wedge is once again the volume. In the beginning, the sell-volume was relatively high and causing a lot of trouble and finally the breakdown to this key-area. Nevertheless, the sell-volume is decreasing steadily right now at the tip of this falling wedge and is an indication that it might break to the upside. 

Looking at more technical indicators, the MKAST Algorithm is still on a sell-condition, yet it is lasting longer, and since the ribbon is fragile and the price is hugging it, it could be indicating a soon reversal of this condition. The MKAST Index is also rising and creating a bullish divergence during the rise, leading to a reversal. 


Conclusion

To summarizes all three competitors; we can see once again a very clear line throughout. 

UTK is leading the deal; they are not only leading in partnerships, but also in strength and bounce and even reversal potential. A double bottom confirmation here would be a dream come true for many investors and lead directly to even higher levels. 

Following UTK, we have REQ, which had its nasty breakdown, has the blood behind itself, and is now setting up for a bounce from the key area of support and a falling wedge into a bullish divergence, which give strong ideas and support of the bounce-potential. 

Last but not least, there is COTI, which is looking weak and exhausted. It is clearly at the last chance for it to bounce, and it needs all strength that there is from all supporters of COTI; otherwise, it will fail this level and go lower and even deeper down. 

 


 

DISCLAIMER

 

The content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained on our Site constitutes a solicitation, recommendation, endorsement, or offer by Upblock or any third party service provider to buy or sell any cryptocurrencies (also called digital or virtual currencies, crypto assets, altcoins and so on). Trading and investing in cryptocurrencies (also called digital or virtual currencies, crypto assets, altcoins and so on) carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrencies, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading and seek advice from an independent financial advisor. ICO's, IEO's, STO's and any other form of offering will not guarantee a return on your investment.

Any opinions, news, research, analyses, prices, or additional information contained on this website is provided as general market commentary and does not constitute investment advice. Upblock will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. All opinions expressed on this Site are owned by the respective writer and should never be considered as advice in any form.