Cardano stablecoins: USDA and Djed Introduction In recent years, stablecoins have come under increased scrutiny of regulators. The main concerns are the principles of operation of algorithmic stablecoins, the transparency of reserves, and the adequacy of the centralized stablecoins provision. Incredibly often, the problems were discussed after the collapse...
Fortunately, the exit from the downward channel has taken place and the price compression in the resistance area is well underway. Considering the state of the indicators as well as the good news about the launch of DJED, a strong upward movement to reach the specified target is not far off. Stoploss is indicated in the image.
COTI support at bottom of long-term channel, downward sell pressure will be minimal and unable to break support sub $0.285. Project has a lot of activity, catalyst events for bullish reversal for COTI are plentiful. COTI to $1+ in Q1 2022 with $DJED algorithmic stablecoin in the Cardano ($ADA) ecosystem along with other milestone accomplishments.
On the D1 COTI broke out of the handle and looking for continuation. RSI indicates bearish divergence, Stochastic overbought .Note the yellow A/D line diverging, indicating large outflow of money. 0.60c is support, but i'm not optimistic this will hold if COTI drops more. Not to bullish (for now)