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 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/USDT

(Click the image for higher resolution)


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/USD(Click the image for higher resolution)


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. 

 

Conclusion

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. 


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.