- Summary:
- Since June 19, the Cosmos price has been aggressively bullish, surging by 86 percent to the current price of $10.9.
Since June 19, the Cosmos price has been aggressively bullish, surging by 86 percent to the current price of $10.9. Today, the trend looks poised to continue, with prices already up by two percent.
Part of today’s market gain is due to a 17 percent surge in trading volume, which has pushed it to $348 million. Cosmos has also been growing in traction among blockchain users due to its cutting-edge technology and growing ecosystem, which can power blockchains, allowing for scaling and interoperating them with each other.
Cosmos Price Analysis
The intraday trading data also shows a strong push to the upside. For starters, Cosmos opened today’s trading session aggressively bearish, and the prices had fallen by 7 percent at one point. However, as the session progressed, the trend started to reverse, and in the past few hours, the prices have surged by 5 percent, wiping out almost all losses that were made in the morning.
Therefore, there is a high likelihood that the current aggressive push to the upside will see the prices wiping out yesterday’s price drop. There is also a high likelihood that we may also see prices hitting the $12.3 resistance level. In the next few trading sessions, I expect prices to rise and trade above the $15 price level.
Part of the reason for my aggressive bullish analysis is due to the long-term Cosmos price action that has the crypto rising by 86 percent since June 19. Today, the strong bullish move looks to be continuing for the long term. However, should the price of Cosmos fall below today’s price low of $10.49, then my bullish analysis will be invalidated. It will also indicate a likelihood of a possible long-term bearish trend.
Cosmos Daily Chart
