COCOS Price Prediction: COCOS BCX Increases Significantly by 37.5%

In the last 24 hours, COCOS BCX (COCOS) has seen a significant price increase of 37.50%. The 24-hour trading volume for COCOS was. At the time of writing, the price of COCOS is trading at $1.03 with a 24-hour trading volume of $152,995,594. 

Over the past 7 days, COCOS has experienced a substantial price increase of 54.1%. With a circulating supply of 71 million COCOS, the current market capitalization of COCOS BCX is $69,326,945.

COCOS Technical Chart Analysis 

After a long consolidation phase lasting since the fall of the largest crypto exchange FTX in December, the price of COCOS saw an incredible spike from $0.75 to $1.35. This sudden spike in the day’s move has kept investors wondering whether to invest in the coin or not. 

According to the chart above, the price of COCOS experienced a series of bearish moves after hitting its all-time high of $5.44. The price reached $0.46, but on November 26, the price spiked on a bullish move, reaching $0.97. However, bears came in, pushing the price down. The market price has been in a consolidation phase, playing out between highs of $0.75 and a low of $0.49.

However, the price broke above the configuration phase on February 16 in a sharp spike that hit $1.3, only to settle at the $0.9 mark. The market price opened today, 17th February, on a bullish strength and hopefully will touch new levels. 

The 200-day moving average is also swinging below the market price, indicating the bullish move expected. Should the bull run continue, we predict the price of COCOS to reach $1.5 towards the end of February and, consequently, $2.5 by the end of Q1 of 2023.

COCOS Price Prediction: COCOS/USDT Indicator Analysis

The relative strength index is all bullish after consolidating between the 50 and 70 level mark. However, in just 24 hours, the RSI is trading above the 70 level, indicating strong buy signals for traders and investors.

Moving averages are widely used in financial markets to help smooth out the price action over a specific period. The goal of using a moving average is to reduce the noise in the data and identify trends more clearly. 

Moving averages are a lagging indicator based on past price action rather than predicting future movements. The market price is trading above the moving averages, with the 50-day and 200-day moving averages acting as significant supports.

COCOS Alternatives

Investors are currently excited about AI cryptocurrency coins such as FGHT and MEMAG, which are the native tokens of the Fight Out and Meta Masters Guild ecosystems, respectively.

Fight Out is a move-to-earn (M2E) initiative, while Meta Masters Guild is a Web3 mobile gaming platform. Both projects aim to create sustainable gaming ecosystems that can endure over the long term. Additionally, their native tokens are still in the presale phase.

Despite being in the presale stage, FGHT has already raised more than $4.2 million, with only eight days remaining before the price increase. Meanwhile, MEMAG has collected over $4.6 million and is only one day away from the final stage.

Industry analysts are optimistic about the prospects of both tokens, predicting that they will perform very well when listed on exchanges. To take advantage of early entry benefits, investors are advised to invest early.

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