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 has been consolidating inside a wedge structure for quite some time and has now seen a powerful breakout.
As mentioned above, UTK has broken out very strongly and is moving in the desired direction right now. This is primarily due to the big news of this day, yet even without anyone knowing, the Price Action and Technical Analysis hinted a strong incoming move.
It has punctured previous resistance and has to continue the pump; otherwise, it might come back to the same support area. Looking at technical indicators, we can see the MKAST Algorithm on the verge of a buy-condition. The MKAST Index shows 8/15 points while it is about to cross the ALMA and confirm the bullishness.
COTI has had a little bounce from the support area, yet got rejected and is currently testing the same area again.
It had the chance to bounce from the support area and continue the pump, yet it got rejected at the previous 61.8% Fibonacci level. It is currently testing the same area of support for a second time, which leaves COTI with the last hope for it – a double bottom reversal.
Should this fail, then new lows will be made soon. Looking at technical indicators, we still see MKAST Algorithm in a sell-position, which is very understandable. Further, the MKAST Index is showing 3/15 points while crossing down the ALMA.
REQ has hit the area of support and is currently on a bounce from there. It has punctured the 61.8% level and has to show strength soon.
As mentioned above, REQ is following strongly a rounded bottom reversal, where it just started the initial impulsive move. This is especially confirmed after mentioning last week a bullish divergence between the MKAST Index and the chart. The initial breakout a few days ago has a solid volume, which is further confirmation.
Looking at technical indicators, the MKAST Algorithm will be flipping into a buy-condition anytime soon, which is understandable and very supported by the price action.
All in all, there is an obvious line between all three competitors. UTK leads the race, bringing solid price action, a Binance listing, which should be causing way more holders and strong volume. Currently, after the wedge breakout, it is one of the strongest pairs in the whole market.
Following, we have REQ, which is opportunistic and promising. Showing strength at support and from indicators, it has many potentials, with slightly higher risk.
Finally, COTI. This one is struggling quite a bit and is not showing the strength needed for solid entries. A bounce has to happen soon; otherwise, it will get beaten down strongly.
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