Reef Finance (REEF) and COTI Technical Analysis: What to Expect?
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Reef Finance (REEF) and COTI Technical Analysis: What to Expect?

May 27, 2021      Dalmas Ngetich

COTI and REEF prices are rebounding from reliable support lines. COTI/USDT could stretch to $0.60 as REEF/USDT rally to $0.05 in a buy trend continuation pattern.

Reef Finance (REEF)

In the quest for cross-chain trading, Reef Finance launched on Polkadot. It bears differentiating features like a yield engine and a smart liquidity aggregator.

Past Performance of REEF

The token’s revival is evident after last week’s lurching.

At spot rates, REEF prices are stable against the greenback, ETH, and BTC on the same period on the back of contracting trading volumes.

On the last day, participation stands at around $241 million. It is decent trading volumes, pointing to the depth of REEF’s markets and confidence from traders.

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Day-Ahead and What to Expect

The REEF/USDT technical analysis doesn’t offer concrete guidance on trend direction. Overly, the market remains in range with caps at $0.02 and $0.05.

There were hints of sell pressure, but REEF bulls are resilient, soaking bears and giving buyers a chance.

REEF/USDT Technical Analysis

The path of the least resistance is still northwards.

As mentioned, REEF/USDT prices are in range mode, despite losses of May 19.

Aggressive REEF traders may load the dips as long as prices trend above $0.02. Their immediate target can be $0.05, the resistance of the recent trade range.

If prices fall below $0.02—the 61.8 percent Fibonacci retracement level of the Q1 2021 range, REEF may sink to $0.01—or worse.

COTI

The Ethereum and Binance Smart Chain-based enterprise-grade DeFi platform depends on the COTI token. From the protocol, users can build payment solutions or digitize currencies.

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Past Performance of COTI

There is a V-shaped reversal after COTI prices sunk to $0.15. However, buyers are flowing back as participation signals.

Trading volumes are up 18 percent to $67 million. At the same time, COTI is down five percent versus the USD.

Day-Ahead and What to Expect

COTI technical analysis points to rejuvenation.

However, bears still have the upper hand despite the three-bar bullish reversal from the 78.6 percent Fibonacci retracement level of the Q1 2021 trade range.

Resistance remains at the $0.25 and middle BB. If bulls come on top, COTI/USDT could tear up to $0.60.

COTI/USDT Technical Analysis

Even with optimism, COTI sellers may flow back.

Confirmation of Q1 2021 gains depend on surges above $0.25 and the middle BB. There could be a bull foundation following this week’s gains.

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Nonetheless, a high volumes break above $0.25 would mark the beginning of gains towards $0.60.

Losses below $0.15 may trigger a dump down towards $0.05—Q1 2021 lows.

#COTI #COTI/USDT #DeFi #REEF #Reef Finance #REEF/USDT
Dalmas Ngetich
Dalmas Ngetich

Dalmas has been passionate about the blockchain and crypto space ever since he’s heard about it. As someone who’s been closely following the trends in the crypto space, Dalmas is excited about what lies ahead in this niche and is all set to explore it. While he’s been advocating crypto adoption for a number of years, he’s himself a HODLer, which makes his voice authoritative and credible.