Cocos-BCX Price Analysis: COCOS Plunge -0.77%, How Low Will It Drop?


  • In terms of COCOS support floor, it is now $0.52.
  • COCOS/USD is confronted with resistance level of R1 at 0.66 dollars.
  • Cocos-BCX currently trades near $0.60
  • Cocos-BCX’s EMA(10) shows a upward trend.

22 April 2024 : In this article we will walk you through Cocos-BCX price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Cocos-BCX, Is COCOS a good investment? Cocos-BCX support & resistance levels etc. But before diving deep into the COCOS technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,424,670,627,946. The total trading volume stands at $61,208,178,847. Bitcoin shares 53.55 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $65,955.38 level after an upward movement of 1.16%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 0.59 percent reaching to $3,204.33 during the previous 24 hours.
While publishing this blog, BNB traded at $600.00, following a price change of 4.25% within the same time frame. SOL the native coin of Solana is down by -0.19 and currently trading at $151.21. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Cocos-BCX Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Cocos-BCX (COCOS)

COCOS Resistance Levels COCOS Support Levels
Resistance Level 1 $0.66 Support Level 1 $0.52
Resistance Level 2 $0.74 Support Level 2 $0.46
Resistance Level 3 $0.80 Support Level 3 $0.37

Cocos-BCX Performance

The price of Cocos-BCX (COCOS) is at $0.60, down -0.77% in the past 24-hours and has a price change of -2.79% over the week. One day trading volume for BTC is 10,945,367.00 USD while total marketcap reached $25,172,475,360.00 USD. There are almost 42,024,919,552 are in circulation out of 100000000000.

Cocos-BCX Price Analysis

COCOS price analysis for 22 April 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Cocos-BCX.

Moving Averages Price Indicator
Simple Moving Average (10) 0.58 Buy
Exponential Moving Average (10) 0.58 Buy
Simple Moving Average (20) 0.59 Buy
Exponential Moving Average (20) 0.59 Buy
Simple Moving Average (50) 0.61 Sell
Exponential Moving Average (50) 0.61 Sell

While COCOS’s Williams %R indicator is at -76.31 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The COCOS/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term sell signal as the MACD line is moving below Signal Line Which means bears are dominating in the market. The Relative strength index (RSI) for COCOS Coin is currently hovering at 32 for 14-days average line, which means COCOS is just recovering from a oversold condition. COCOS has a nearest resistance of $0.66. A bullish breakout in this resistance level would boost the uptrend momentum. The buyers could then target the resistance R2 placed at $0.74. Alternatively, if the investors turn against the Cocos-BCX (COCOS), the bears might control the market and take COCOS price below the crucial support level of $0.52.

Conclusions

As of now, Cocos-BCX is not doing well and is trading in reddish zone. In order to invest in the digital currency, crypto investors want to see the COCOS move into the positive zone. In 2022 and beyond, the Cocos-BCX price has a significant likelihood of rising. It's important that you do your own research before making a decision on whether or not this is a smart investment for you.