COTI's wedge setting triggers bullish bets on the 0.05022 dollar breakout

COTI has formed a downward wedge pattern, indicating that a bullish breakout is likely if maintained above the $0.0475 support level. Resistance is at $0.05022 and the breakout target is at $0.0540 to $0.0560. The signals of technical indicators are mixed, but the recent MACD momentum indicates that bullish interest continues to increase. Failure to break through the resistance level may result in a retest of support level.