ADA has traded low in the last few months and is a bullish trend COTI: Analysis
- The global crypto market is in the red and most of the coins are down.
- Analysis shows that ADA has been declining in the last six months.
- COTI can also move to an upside-down head and shoulder pattern.
(ADA) appears to be even lower than its current price of $ 0.5529 as the current crypto market signal is red. Meanwhile, as predicted by crypto analyst and founder of crypto capital venture Dangan Bardello, Cardano’s algorithm stablecoin, COTI (COTI), is expected to surge.
On June 3rd, Gambardello tweeted, “It’s a day like Cardano and COTI.” Next, I also attached a technical analysis video of both ciphers.
It’s a day like # Cardano & # Coti $ ADA $ COTIhttps: //t.co/opPKbdF34l
— Dan Gambardello (@cryptorecruitr) June 2, 2022
In his YouTube video, Gambardello first addressed the topic of Cardano (ADA), stating that “powerful things are happening on the charts.” Gambardello specifically mentioned the fact that ADA has shown a decline in the last six months. This means that Cardano is ready to set a higher low than it bounces off.
In detail, the momentum oscillator indicator is the lowest ever, and from a technical analysis point of view, this is the best time for ADA to bounce. But he said the opposite could happen and the ADA could be integrated.
ADA prices over 9 and 20 EMA (Source: TradingView)
Meanwhile, regarding COTI (COTI), Gambardello pointed out that RSI is downhill to the oversold territory. At the moment, COTI is the most oversold ever.
Also, COTI’s head-shoulder trading pattern can shift to an upside-down head-shoulder pattern. This means that the coin can move from the end of the bear to the beginning of the bull.
In addition, Gambardello speculated that if things went well in the crypto market, COTI could move upwards, repel resistance and form a right shoulder.
Meanwhile, the CEO of COTI Shahaf Bar-Geffen is confident in Jed’s rugged design.
Disclaimer: The views and opinions expressed in this article are for the author only and do not necessarily reflect the views of CoinQuora. The information in this article should not be construed as investment advice. CoinQuora recommends that all users do their own research before investing in cryptocurrencies.