Journalist
Posted:
As the broader market begins to recover, ChainOpera (COAI) is grabbing the attention of crypto enthusiasts. Not only because of its massive 39% price uptick, but also because the rally appears to be opening the door for further upside.
After hiking by over 39% in just 24 hours, the altcoin’s price hit the $0.445 level. At the same time, a significant surge in market participation was recorded, with the same evidenced by the 340% spike in trading volume to $36.64 million. Such a sharp increase in volume could be a sign of heightened interest from traders and investors .
Previously, COAI had fallen by more than 95% on the charts. Following its most recent gains, it remains to be seen whether the crypto will continue its upside or face a period of correction.
ChainOpera (COAI) price action eyes 45% rally
On the daily chart, COAI’s price had hit the key resistance level of $0.45 at press time – A level it had been struggling to break since December 2025. In the past, the altcoin has attempted to breach this level more than four times. However, each time the price reached it, a reversal followed soon after.
Source: TradingView
If COAI breaks out and closes a daily candle above the key resistance level of $0.45, it could see an impressive 45% price jump and potentially reach the $0.685-level in the coming days. However, a daily close below $0.3880 could invalidate this bullish outlook.
At press time, the Average Directional Index (ADX), an indicator that measures trend strength, had reached 33.66 – Well above the key threshold of 25, signaling a strong directional trend in the asset.
Meanwhile, the Relative Strength Index (RSI) stood at 70.87, indicating that the asset was approaching the overbought zone and flashing strong bullish momentum.
Investors and traders show mixed sentiment
Additionally, derivatives data platform Coinglass and on-chain analytics firm Nansen hinted at mixed sentiment among investors and traders, with some engaging in profit-taking while others continuing to follow the trend.
Nansen’s latest data revealed that over the last 24 hours, COAI reserves across exchanges (both CEXs and DEXs) increased by 1.94%. Such a hike in exchange reserves alluded to potential selling pressure, something that could lead to a short-term pullback in the crypto’s price.
Source: Nansen
Meanwhile, traders appear to be aligning with the ongoing momentum too.
Data revealed strong betting activity around the $0.385-level on the downside (support) and $0.465 on the upside (resistance). At these levels, traders built approximately $780,000 in long leveraged positions and about $272,000 in short leveraged positions, reflecting a bullish short-term outlook.
Source: Coinglass
Final Summary
- COAI’s price reached a make-or-break level and breaching it could help altcoin rally by another 45%.
- Both investors and traders exhibited mixed sentiment, with COAI reserves on exchanges climbing by 1.94% too.
