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 quite strongly lately. The descending triangle support has been tested multiple times now and is holding like a champion.
The latest test of the key-area of support has been a full fake-out below the license, and it pumped right after back above it. It is currently testing the same area of support, which might be understandably worrying for some traders, yet from a technical standpoint, it is very natural and healthy.
Should UTK here show the strength and remain above the key-area of support, there is over 50% of upside potential for it following the by then undoubted break of downtrend resistance.
Looking at technical indicators, one can identify the ongoing sell-condition of the MKAST Algorithm, which is fine and can turn around very quickly, especially when looking at the MKAST Index, showing 2/15 points indicating a healthy oversold condition.
COTI has been moving slowly lately and has been consolidating below the previous key-area of support. Recently, it broke the key-area of support with a bullish structure of a falling wedge yet didn't see a strong breakout from thereon.
Currently, it is experiencing a form of consolidation below the primary resistance, which is inherently bullish.
Looking at the MKAST Algorithm, one can identify a slightly bearish condition due to the falling price below the support and the failure to break above the resistance.
Nevertheless, the MKAST Index shows some unprecedented strength and consistently makes higher lows, which is an inherently bullish sign at a stale and relatively flat price.
REQ has regained the key-area of support and is setting up for continuation. Currently, one can see how it retraced into the reclaimed key-area of support and was re-testing slowly. One can identify the current market structure as a bull-flag, which is inherently bullish and one of the best-known continuation patterns between experienced traders.
The volume in the structure is shallow, giving the needed integrity and confirming the bullish case once more.
Looking at the MKAST Algorithm, one can see a buy-condition, which is ongoing for a long time, and currently sees the re-test of the key-area of support and the MKAST LenLen Ribbon, which is one of the most bullish signs. Not to mention the MKATS Index, which has been creating higher lows consistently for almost one month.
This time all three have a strong to moderate bullishness to them, which leads to the main criteria of the most significant opportunity for an experienced trader.
The first place is shared by UTK and REQ, both in their ways very bullish, reclaiming their key-area of support and setting up for another impulsive and robust movement to the upside. The re-tests have been done, the bullishness is established, and the upside's potential is very high.
Following these two, is only COTI left, which has been struggling lately to create the needed bullishness for a strong breakout. It seems more like the bullishness is building in its background and not yet showing on the chart.
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