Admittedly, the last few days have not been the most pleasant time for crypto traders as the value of the Bitcoin price is seen to be at risk of falling to the $ 40,000 resistance level.
Despite this sharp decline, a handful of cryptocurrencies appear to be significantly better than other markets by recording weekly gains in the BTC and US dollar currency pairs.
COTI, is among the cryptocurrencies that have exhibited a huge reputation in recent times for posting the latest all -time high (ATH) of $ 0.61.
With that achievement, COTI has managed to generate a 160% jump in the September trading session so far with a market capitalization of over $ 455 million.
Basically, COTI has partnered with Ardana where it brings crypto stablecoin payments to fiat for the Cardano community, as well as consumers and merchants around the world.
We are happy to announce that we've taken the first step in Defi over Cardano, by partnering with Ardana, to bring stablecoin crypto-to-fiat payments to the Cardano community, as well as consumers & merchants worldwide.https: // t .co/ShZ8SbseHt @ArdanaProject @CardanoStiftung $ COTI pic.twitter.com/EWz4Ou4TXD
- COTI (@COTInetwork) September 23, 2021
Ardana is a stablecoin hub to Cardano that will bring the DeFi primitives needed to bootstrap and sustain the economy to Cardano.
Let’s take a look at the current movement chart of the COTI/USDT price.
It can be observed that COTI jumped drastically resulting in a 113% jump in just 2 days.
From a technical point of view, COTI is still in a bullish state and is hovering above the $ 0.50 resistance level.
If COTI remains bullish, the $ 0.60 resistance zone will be the main focus to test before making a higher jump and making the latest ATH.
Meanwhile, if COTI shows a bearish trend, the $ 0.48 RBS (resistance become support) zone should be tested first before making a decline to a lower level.
At the time of writing, COTI is trading at the $ 0.53 price level up almost 40% in the last 24 hours. The coin is currently at 127th chart in the crypto market.
