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 powerfully lately, yet it lost some strength at a critical level of support. That keylevel was showing strength, yet was punctured already too many times. Currently, UTK is moving inside a falling wedge, which is inherently a bullish structure and can break out. The wedge volume is decreasing steadily, which shows that this is just a retrace and not a newly emerging trend. Furthermore, the wedge is approaching a critical level of support, which might give even more power for a strong bounce soon.
Looking at technical indicators, the MKAST Algorithm shows a very understandable sell-condition that has some strength to it at the current moment. The MKAST Index is decreasing as well and showing with it a slight bullish divergence.
COTI has been moving slowly lately and is still trapped at the key-level of support of the 78.6 Fibonacci level. This level gives excellent support for the slowly moving COTI, yet it has some indications that it might break down soon again. The sell-volume lately has been significant and spiking above the Volume MA.
The MKAST Algorithm is still showing a buy-condition, yet COTI cannot hold the price above the MKAST LenLen Ribbon. When looking at the MKAST Index, one can see 3/15 points, which indicates a bearish situation and not yet fully oversold conditions. All these indications are supporting a bearish narrative as soon as the keylevel of support breaks.
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REQ has been moving in a rather disappointing manner lately. It had broken the key-area of resistance and was in the middle of re-testing it with a bull-flag. Nevertheless, it has broken below the key-area again and is currently trading below it. The sell-volume is again substantial and highly significant, indicating that this is instead a newly emerging trend and not just a retrace.
Looking at the MKAST Algorithm, one can identify a very new sell-condition, which is entirely understandable because the price started moving below the key-area. The MKAST Index shows 1/15 points, right after leaving oversold conditions, which might be a good sign at the moment, yet it is not the best sign because it might just as well enter the oversold conditions very soon again.
UTK has the highest chance of opportunity for experienced traders. As the price moves in a retracing manner and even inside a falling wedge, it creates a substantial opportunity for traders to take advantage of it and look for orders around the key-level of support. Following right behind is COTI, which has been struggling lately but still has the chance to hold its support of the 78.6 Fibonacci level. Should that level break, an experienced trader would immediately look for short entries. Finally, REQ, which has been a significant disappointment lately and is showing weakness at support. Should this weakness not immediately reverse, it will break the key-area of support and endure significant downside.
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