ChainOpera AI’s (COAI) price, after a theatrical nosedive of 90%-from October 12 to 20-managed to stumble back above $19. Looks like it’s trying to fool us into thinking “all’s well,” but don’t be fooled-fragility is the new black. Beneath the superficial optimism, the charts whisper tales of fatigue and impending chaos, as if the market itself is yawning through a long meeting.
Yes, the surface still shows a bullish face, but peel back the layers-like an onion-and you find cracks, crevices, and possibly a full-blown fissure. The question remains: will this rebound last or will it give way to yet another embarrassing correction? Stay tuned-spoiler alert: the drama is just beginning.
Divergences Show Buyers Losing Control-The Market’s Not So Comfortable
The Relative Strength Index (RSI), that magical gauge of buy versus sell strength, is flashing a classic “nice try, but no cigar” bearish divergence.
Between October 16 and October 24, COAI’s price hit higher highs, while RSI, the ever-faithful sidekick, printed lower highs. In other words, prices keep climbing, but the strength to push them higher is waning-a sneaky hint of exhaustion. 😅
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The Money Flow Index (MFI), that trusty measure of how much cash is actually sashaying in or out, confirms the trend of waning interest. From October 19 to October 23, prices made higher lows, yet MFI dived lower-like a bad sequel. That divergence screams “fade-out,” signaling that the money inflows are drying faster than a summer lawn.
Combine RSI and MFI unilaterally deviating from the price action, and you’ve got a recipe for a trend reversal-sweetened with a dash of market drama. Basically, demand is slipping away, but prices keep pretending it’s all good. Classic case of “fake it till you make it”-or until the market decides to pull the rug.
Meanwhile, hype is running amok. COAI’s social mentions skyrocketed by 1,300% in a single day-clearly, fueled more by FOMO and FUD than genuine interest. 🤡 Most of the tokens are still hoarded by the few wealthy whales, turning this into a high-stakes game of “who blinks first.”
Bearish Pattern? Maybe. But Breakouts Keep the Market Guessing
On the 12-hour chart, our beloved COAI is riding within an ascending trendline, forming a bullish triangle-a pattern traders like because it hints at continuation (or so the narrative goes). Fibonacci levels mark the critical support and breakout zones, acting as the market’s version of fairy dust.
The resistance at around $22.44? That’s the forbidden fruit. If the price can’t punch through it convincingly, we’re heading south-possibly tumbling to $15.52 or even $9.81, translating into a gut-wrenching 50% haircut from today’s lofty heights. 😱
On the flip side, a victorious breakout above $22.44 (closing the 12-hour candle above that level, not just a spike) could unleash a rally towards $28.03 and then up to $33.62-if the market’s feeling generous.
So for now? The bullish structure is still technically in place, but under the hood, the indicators are whispering “weak rally.” The foundation might be cracking, and it’s only a matter of time before the market’s patience runs out.
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2025-10-24 17:57