COTI Price Prediction: COTI Skyrockets 330% In A Month As This AI Blockchain Presale Charges Towards $1.5 Million

The COTI price pumped more than 330% in the past month to trade at $0.2405 as of 2:25 a.m. EST as investors bet big on the altcoin’s prospects. 

The COTI Price Falls Out Of A Bullish Channel And Tests Support 

4-hour chart for COTI/USDT (Source: TradingView)

The COTI price printed a series of higher highs and higher lows on its 4-hour chart over the past couple of days, resulting in the formation of a positive price channel. However, the altcoin has broken below the lower boundary of this channel at the start of today’s trading session. As a result, the crypto is resting on the $0.23780 support level. 

Should the COTI price drop below this key support, it may be at risk of testing the subsequent mark at $0.19410 in the following 24 hours. Continued sell pressure at this point could then pull it down to $0.14548, with an extremely bearish scenario potentially leading to COTI falling to as low as $0.10827 in the short term.

This bearish thesis could be invalidated if the COTI price manages to close a 4-hour candle back within the positive price channel in the next 12 hours. In this alternative scenario, the crypto may resume its climb.

The COTI Price May Drop Some More As Bearish Technical Flags Emerge

Technical indicators on COTI’s 4-hour chart suggest the crypto may correct in the next 48 hours. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators are flagging bearish.

The RSI line broke below its Simple Moving Average (SMA) line in the past 24 hours, and has since been breaking away below the SMA line. This signals that sellers have taken back control from buyers, as well as a continued reduction in bulls’ strength. There is still room for the COTI price to drop before it enters oversold territory as well, since the RSI is situated at just under 70.

Meanwhile, the MACD indicator is on the verge of triggering a significant bearish technical flag, as the MACD line falls towards the MACD Signal line. These two lines intersecting in the next 24 hours could be a sign of COTI’s positive trend undergoing a bearish reversal.

While The COTI price remains at risk of potentially losing a key support level, eTukTuk is making substantial strides in the crypto market as its presale races towards $1.5 million.

A Framework For Electric Vehicles

eTukTuk is an AI-powered blockchain infrastructure project that aims to reduce global carbon emissions through its green AI technology.  To achieve its goal, the project introduces an electric version of the three-wheeler taxi known as the tuktuk. This is a popular mode of transport in highly-populated developing countries such as Bangladesh and Pakistan, which gives eTukTuk access to a large potential user base from the get-go.

eTukTuk is the world's first #blockchain project to revolutionise one of the world’s most popular forms of transportation. 🔋🛺

We are replacing dirty, petrol-powered TukTuk bikes with clean, electric-powered TukTuks in places where people need them the most. 🌏#RealFi pic.twitter.com/pUgbqovLk8

— eTukTuk (@eTukTukio) July 26, 2022

With this in mind, eTukTuk has prioritized low costs to better appeal to governments and mini taxi drivers in these developing countries. Through strategic partnerships with local manufacturers, the project drastically reduces the cost to build its mini taxis. This makes it cheaper for governments to roll out the solution and also gives mini taxi drivers some much-needed financial relief by increasing tight profit margins.

A 10X Opportunity

eTukTuk’s appeal to developing countries and its focus on keeping costs low could lead to a surge in adoption. This may then also send the project’s native token, TUK, skyrocketing as more and more people purchase and transact with the altcoin. 

Investors are rushing to get in on this opportunity during the project’s early days, as demonstrated by its presale surging past $1.4 million.

Selling for just $0.02725, the crypto can be purchased using either ether (ETH), Tether (USDT) or bank card. Potential buyers will want to hurry, however, since the token’s price is set to increase in about six days as eTukTuk’s presale approaches its next stage, and the risk is that the stage sells out faster.

TUK can be purchased here.

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