KEY TAKEAWAYS

• Chain Opera AI (COAI) fell by 90% following its all-time high.

• COAI has regained its footing with a significant bounce.

• Is COAI’s bullish trend over, or will the price move to new highs?

Chain Opera AI (COAI) has been one of the most volatile new tokens on the market, following a 13,500% price increase with a 90% decline.

After bouncing again today, the COAI price is halfway back to its all-time high.

With that in mind, let’s examine the charts and determine whether the COAI price will move to new highs or if the bounce is just a relief rally.

COAI Price Increase

The COAI price fell shortly after launch, reaching a new all-time low of $0.140 on Sept. 26.

However, COAI regained its footing shortly afterward and gradually moved upward.

The trend changed on Oct. 6, when the COAI price movement became parabolic.

COAI’s rally since then has been extraordinary. After a 13,500% price increase, it hit a new all-time high of $45.97 on Oct. 12 (red icon).

Even though the COAI price has fallen since, it regained its footing today and has bounced, retracing a portion of its previous decline.

COAI’s bounce (green icon) has created an ascending parallel channel containing the COAI movement.

The price currently trades in the channel’s lower portion, making a breakdown more likely than a breakout.

Momentum indicators still lean bullish. The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) are increasing.

Because of the lack of sufficient price history and mixed readings, it is unclear if the COAI trend is bullish or bearish.

Instead, more consolidation inside the channel could occur before COAI rallies or breaks down.

Social Sentiment for COAI

Interestingly, there is a lack of interest in COAI based on its social sentiment despite the massive price rally.

COAI mentions peaked on Oct. 12 but has fallen since and is nearly nonexistent despite the ongoing price bounce.

The only notable news or mention is that ChangeNOW has listed it alongside USDe and 2z.

Some believe CLO will be the next COAI since the former rallied to new highs shortly after listing.

However, despite being one of the best-performing cryptocurrencies in the past few weeks, there is no interest in the project.

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Final Thoughts

COAI’s explosive rally and sharp pullbacks highlight how unpredictable this token has become.

While indicators still suggest momentum, the lack of strong social interest could limit upside in the near term.

Whether the COAI price breaks out from its channel or gets rejected could determine what happens next.