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 showing great strength and sudden movements after very bullish announcements. It has broken out of a bullish falling wedge and is currently breaking above the previous key-area of support while turning it into local support. Looking at technical indicators, such as the MKAST Algorithm, one can see that it shows a bullish condition, which is entirely understandable and overdue for UTK. The MKAST Index is currently retracing a tiny bit and showing 11/15 points, which speaks in favor of the bullish bias and further continuation upwards.

 

COTI/USDT

(Click the image for higher resolution)


COTI has been moving very slow and rather disappointing lately. It has been trapped in a tight range below previous support and cannot break above the local resistance's key area. COTI has to make a decisive move above the resistance. Otherwise, it will have to be testing previous lows again. Nevertheless, it is worth mentioning that this can be seen as a possible consolidation below resistance and could be leading into a breakout. Looking at technical indicators, such as the MKAST Algorithm, one can see a bullish condition and the price moving above the LenLen ribbon. It can be an indication of a soon reversal and break of resistance.

 

REQ/USD

(Click the image for higher resolution)


REQ has made a strong breakout move and is currently retracing a little into the previous key-level support. The retrace is followed by a relatively low volume, which confirms that this is an actual retrace and not a newly emerging trend. Looking at the technical indicators, such as the MKAST Algorithm, one can identify a newly emerged buy-condition. Such buy-condition is entirely understandable and correct since REQ shows bullishness and could be quickly set up for a healthy continuation. Looking at the MKAST Index, one can see it showing 12/15 points, which is quite strong and rising, which is once again supporting the bullish narrative.

 

Conclusion

All in all, it is an obvious line between all three competitors. UTK is leading the race very strongly and is pushing hard against its competitors. It is very bullish and possible to see a substantial upside soon. Following it is REQ with a strong move above its key-area of support and finally flipping it into local support. Finally, COTI is not moving very strongly and is still trapped in the range below resistance and unable to break it yet.


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.