$COTI has experienced a notable decline of -3.884% in the last 24 hours.
The price fluctuated between a high of 0.05254 and a low of 0.04952.
With the overall market in a downtrend, this suggests a weak trend for COTI.
The Bollinger Bands indicate the price is nearing the lower band of 0.04962, signaling potential for a short-term rebound.
Current support sits at 0.04952, while resistance is at 0.05216, creating a tight trading range.
Bitcoin's undefined influence means COTI's movement may be driven by specific market sentiment rather than its correlation to Bitcoin.
Traders should consider adopting a short-term strategy given the high volatility and the current bearish trend.
Key takeaway: Vigilance is needed; COTI may test support levels before any upward movement occurs.
