$XNY /USDT Technical Analysis: Breakout or Fakeout? 📈
The 4H chart for Codatta (XNY) shows a sharp bullish surge, with the price gaining +3.92% in the last 24 hours to reach $0.004609. This move comes as the project transitions into its 2026 "Forge" roadmap, focusing on automating data royalty settlements for AI.
Market Dynamics & Key Indicators
Trend: Bullish but stalling. While the price is holding above the EMA(25) and EMA(99), it is currently struggling to break the $0.0048 resistance.
RSI (6): Neutral at 41.72. After an overbought peak earlier this week, the RSI has cooled down, suggesting that the "frenzy" is over and the price is looking for a new base.
MACD: Currently showing a bearish crossover on the 4H frame, signaling that short-term momentum is fading even as the price remains relatively stable.
Fundamental Context: Codatta has recently surpassed 19 million registered users and is scaling its AI data knowledge protocol with partners like Alibaba Cloud.
Trade Setup
1. Long Setup (The "Cup and Handle" Play)
Entry: Look for a confirmed candle close above $0.0048 (EMA7 and local resistance).
Target 1: $0.0052 (Recent peak).
Target 2: $0.0056 (Psychological barrier).
Stop Loss: Below $0.0041 (EMA99 support).
2. Short Setup (Retracement)
Entry: Rejection at $0.0048 or a breakdown below the $0.0044 support level.
Target 1: $0.0039 (Major demand zone).
Target 2: $0.0035 (2026 bearish support target).
Stop Loss: Above $0.0051.
