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 moving remarkably strong over the last few weeks and holds its support just as strong.
It has been listed on Binance, saw a powerful pump, and retraced right back into resistance with remarkably low volume. The HTF downtrend that can be seen on UTK seems already exhausted, and there is a lot of movement and bullish buy-volume inside, which supports the strength of UTK.
Looking at technical indicators, one can see that the MKAST Algorithm is still on a sell-condition, which is self-explanatory since the downtrend even has not been broken to the upside. Further, the MKAST Index 7/15 points, which is quite bullish, and it is on the way of crossing the index ALMA to the upside.
COTI has been on a strong downtrend for quite a while and has been breaking one support after the other. Nevertheless, right now, there is some hope in the market structure. One can see a falling wedge in the current structure, which is inherently a bullish structure and would be looking for a breakout to the upside. Looking at the volume, the buy-volume is rising towards the end of the falling wedge tip. Especially this, in combination with the price currently trading at the 78.6% Fibonacci level, grants this structure its integrity.
Looking at technical indicators, we can see the MKAST algorithm still on a sell-condition, which is self-explanatory since the downtrend is technically still ongoing, and a true trend-change still needs to happen.
The MKAST Index shows 8/15 points, which is a bullish sign and could be supporting the possible breakout soon.
REQ has been moving to the downside for quite a while. It has reached the key-area of support with a falling wedge, which had the breakout rather lackluster and is currently consolidating at exactly that area. The volume is still experiencing some spikes, and the price is rounding up for a potential reversal from here.
The MKAST Algorithm is showing some strength for the last few days as well. The LenLen Ribbon has crossed up into a bullish condition, so has the Algorithm print green candles.
The MKAST Index is at 8/15 points, which is relatively high at an area of support and could lead to a strong reversal here since the strength from “behind the scenes” builds up.
All in all, we can see once again an obvious line between all three competitors. UTK is, as usual, leading the race and making the biggest and strongest moves. Where others have been breaking the support areas and continuing with lower lows, UTK has been holding the area of support quite strongly.
Following the lead is COTI, with finally a strong opportunity for a breakout. Surprisingly high volume in an inherently bullish market structure, which in combination could be a strong mover over the next week.
Finally, tightly behind COTI, there is REQ, which had its chance of a strong breakout after the falling wedge yet failed it and is pushing sideways along at the area of support. This slight sideway push diminishes with low volume and could fail anytime if it does not see a strong pump ASAP.
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