Prices Drop Despite Recent Developments

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Con­tentOS is down by more than 3 per cent after show­ing huge signs of a bull­ish move in yesterday’s trad­ing ses­sion. The drop has wiped all the gains made yes­ter­day and set a new two-day price low. The drop is also a resump­tion of a strong long-term bear­ish move that has seen Con­tentOS drop­ping by 38 per cent in April. 

The plat­form, which aims to solve how con­tent is pro­duced, dis­trib­uted, reward­ed and trad­ed, has con­tin­ued to gain trac­tion in the past few months. The plat­form has been able to take some oth­er plat­forms from the Beta phase to live. This includes prod­ucts such as COS.SPACE and COS.TV.

How­ev­er, even with more users com­ing into the project, the project has strug­gled to main­tain its trad­ing vol­ume. In the past 24 hours, for instance, COS trad­ing vol­ume has dropped by 38 per cent, bring­ing the total trad­ed using the cryp­tocur­ren­cy to around $9 mil­lion. Although the fig­ure looks sig­nif­i­cant, a 38 per cent drop in a sin­gle day is like­ly to result in a bear­ish trend.

The trad­ing vol­ume has also strug­gled through­out the year. For instance, on Feb­ru­ary 22nd, the cryp­tocur­ren­cy had a trad­ing vol­ume of $70 mil­lion. This was fol­lowed by huge fluc­tu­a­tions in trad­ing vol­ume, includ­ing a drop to $3 mil­lion on April 22, 2022. Such fluc­tu­a­tions and drops in trad­ing vol­ume have part­ly played a part in the cur­rent strong bear­ish trend of COS.

ContentOS Price Prediction

The four-hour chart below shows Con­tentOS is still in a strong bear­ish move. The prices have also hit the upper trend­line of a descend­ing chan­nel, result­ing in a strong and aggres­sive bear­ish move. Cur­rent­ly trad­ing at $0.01390 after surg­ing more than five per cent, it is like­ly that the cur­rent price gains are a result of price correction.

There­fore, I expect Con­tentOS prices to resume the down­ward trend, pos­si­bly in today’s trad­ing ses­sion. There is also a high like­li­hood of the prices hit­ting the $0.0134 sup­port lev­el. The cur­rent bear­ish move will like­ly result in prices also trad­ing below $0.01300 for the first time since March 14, 2022.

ContentOS 4‑hour Chart



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