Analysts Eye 590% Gains In COSMOS Crypto, If It Does This

Cosmos crypto price made headlines with a potential 590% gain based on a Power of 3 setup, a 60% surge in user activity, and Nomic’s audit success.

Price phases: Accumulation, Manipulation, and Projected Distribution

The monthly timeframe shows a ‘Power Of 3’ setup in Cosmos cryoto price as it squared towards a projected gain of 590%. It breaks down into three separate phases — accumulation, manipulation, and distribution.

In the accumulation phase, the price consolidated below and above an ascending channel. Liquidity accumulated sideways as players positioned themselves at increased prices.

This was a foundational phase to determine future price movements.

Then, in the manipulation phase, the price broke below the accumulation zone through stop losses to conduct a liquidity grab. It is followed by a usual auto-cough to cull the weak hands off the market and continue to accumulate.

The final distribution phase targets a price of $38.37 and therefore a potential upwards of 590% from current levels.

It’s the last phase of the Power of 3 setup, but this is a final distribution of liquidity at higher price levels.

This classic pattern of accumulation, manipulation, and distribution indicates a bullish outlook for Cosmos.

Increased Adoption Reflects Rising Demand for Cosmos Crypto

In the past three weeks, active users rose by roughly 60%. The monthly active user is a unique, paid, and revenue-generating address, meaning that users are using the network, compared to just having a wallet and housing some test coins.

You can see a strong comeback for user activity following a dip earlier in 2023 shown on the graph. With this current uptick, the ecosystem feels like it saw a reversal in its utility and user engagement.

This compared favorably to previous sharp increases likely due to Cosmos ecosystem announcements. Developments that may have brought fresh interest to its user base can also be attributed.

It also indicated increased network activity, possibly stemming from the launch of a new dApp, a partnership, or something to enhance the network’s functionality.

The increasing demand for the Cosmos Hub is evident in its growing monthly active users pointing towards the Cosmos Hub as a revenue-generating blockchain.

Furthermore, the data validates Cosmos crypto’s importance in the space. It shows an increase in user adoption and participation in the crypto ecosystem.

Nomic Audit Milestone in Cosmos

Recently, the nomic team audited their nomic codebase as a whole, from the nomic team itself. That stamps the credibility and technical solidity of any achievement and builds trust in the fact that the platform actually works.

This decentralized Bitcoin bridge emphasized above is NomicBTC, the most decentralized Bitcoin bridge.

With NomicBTC, decentralized Bitcoin interactions become possible, strengthening the interoperability of blockchain space.

This sealed a security audit for Nomic and the Cosmos ecosystem as a whole. It brings a new level of trust and increasing the adoption.

Notably, this development illustrated the paramount importance of security and decentralization of blockchain infrastructure.

It explains how Nomic is helping out with the larger blockchain ecosystem by offering an important secure and decentralized Bitcoin bridging component for a wide range of use cases.

Cosmos Crypto Key Levels and Indicators to Watch

Looking at the Cosmos’ chart, it is telling us of an ascending channel, which indicates a bull run, having higher highs and higher lows.

The price is above both the 50-period SMA at $5.957 and the 200-period SMA at $4.938, confirming bullish momentum.

With the blue line above the signal line and values above zero, the True Strength Index indicates bullish momentum.

This is also supported by the Awesome Oscillator (AO), which shows positive green bars indicating increasing buying pressure.

The next price point to breach is $7.00, followed by $9.00. But, a rejection at the resistance could lead to a pullback to support at $5.957 or the channel’s lower boundary.

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