Real-world transaction – focused payment token, $COTI looks to be poised for some a bullish run, after a stretch of bearish price action. This possible reverse, in the coin’s value trajectory follows the announcement of the upcoming release of physical, Coti Pay, payment cards.
Directed Acyclic Graph (DAG) technology based digital asset, $COTI, appears poised for bullish price action, following the Distributed Ledger oriented Fintech company’s announcement – on Monday, May 10th -of the impending release of their mutli-financial asset (both, fiat and crypto) payment app/banking platform, Coti Pay‘s physical debit cards. There is no date, as to when the cards might be available, however applicants will be notified within the coming weeks.
The announcement, of physical Visa-powered payment cards, forms part of the firm’s strategy, geared towards providing a seamless Distributed Ledger-based, multi-asset, payment network. The release of the Payment Cards – as the firm points out – will coincide with the rollout of Coti Pay banking accounts, with IBAN numbers.
“Those who applied for a COTI debit card will receive an email with the instructions for opening a COTI bank account. A COTI Pay debit card will be sent to users shortly after they have completed this process.” – COTI
On our Binance charts – price action streamed through TradingView – the COTI/USDT market seems to be setting up to break out of a complex retrace that saw the token’s value descent from a high of $0.60. The 24hr time frame shows the coin opening the day at the $0.33541 support level, before sinking to a low of $0.32503.
At time of writing $COTI seems to be travelling at $0.33260 to the daily high of $0.33541. A break above the $0.34045 level, should afford one more confidence in a possible continuation – into the next few days – of upward momentum.
Relying on the Ichimoku indicator, price action is still below the cloud, with the Tenkan , and Kijun turning flat. At time of writing, price had just broken above the Kijun line. Price may still develop slowly, over the next week, or bust back downwards – instead of running. With the Stochastic RSI in oversold territory, a clear break above $0.41680, or $0.45037 should offer a good buy point.
$COTI Spot and Perpetual Futures are up, 3.4% at press time. Not enough movement to confirm a trend switch, but things seem to suggest that the market may be beginning to price the impending Coti Pay, Visa Card release, in.
