The past few years have seen the content become a commodity. This has pushed Contentos prices to new levels, resulting in over $69 million in market capitalization. As a result, today’s trading session has seen a slight bullish move for ContentOS. However, this may not be enough, and the prices may reverse and continue the current bearish move.
Unfortunately, the cryptocurrency has struggled in the past few days. In the last 24 hours, ContentOS traded volume has decreased by 48 per cent. Although today’s prices are showing an improvement, the cryptocurrency also lost over nine per cent in yesterday’s trading session.
ContentOS has made significant milestones despite the falling prices in the past few months. In March, the platform was able to take its COS.TV platform from Beta mode. They also took the COS.Space Live and their token became integrated with Binance. The platform is also big on its users. In March, they were able to organize meetups in Vietnam, where they shared the vision of their platform.
The four-hour chart below shows the prices recently broke from an ascending channel. The chart also shows that the past few hours have been ContentOS prices trading sideways. Although today’s trading session shows a slight bullish movement, the chart shows that there have been points during the day when prices were below the opening prices.
The ContentOS prices have currently formed a bearish flag on the four-hour chart. Therefore, it is highly likely that the prices will continue falling. There is a high likelihood that the prices may fall until they hit the $0.0123 support level. This is likely to retest the support level before another upward move. Therefore, my ContentOS price prediction is a downward move likely to hit the support level.
However, if today’s trading session closes above $0.018, my trade analysis will be invalidated. On the other hand, it will also indicate a possibility that prices may still be bullish.
This post was last modified on Apr 07, 2022, 17:02 BST 17:02