The Contentos price has been in a tight range on Monday as the cryptocurrency industry consolidates. The COS token is trading at $0.000625, where it has been in the past few days. This price is about 27% above its lowest level in June, bringing its total market cap to over $21 million. Like other altcoins, Contentos has seen its price crash by over 90% from its peak in 2021.
What is Contentos?
The content industry is a giant one Today, the industry is dominated by some of the biggest companies in the world like News Corp, New York Times, Warner Bros, and Disney among others. All these are highly centralized companies that depend on advertisers and subscriptions. Advertisements are estimated to be worth over $530 billion per year.
Contentos is a blockchain project that is attempting to disrupt the content industry using smart contracts. The platform describes itself as the Ethereum of Digital content, meaning that it accepts all types of decentralized applications (dApps).
The idea behind Contentos is relatively simple. Publishers of all kinds can come up with content and then distribute it around the world. These publishers are then paid using COS, the platform’s native currency. They also benefit from having verifiable digital assets and a transparent industry pricing model. It will achieve this through NFTs, which will be unveiled in Q2 of 2022.
Contentos have also launched Cos.TV, a decentralized platform for videos. Creators publish their videos in the YouTube-like platform and are paid.
Still, while the content industry is ripe for disruption, I am a bit skeptical about whether Contentos has what it takes. In my view, it will continue being a niche project that will not gain mass usage. For one, its creators are paid in COS, a coin that is extremely volatile. At the same time, it is competing with extremely large and popular platforms like YouTube and TikTok.
Contentos price prediction
The four-hour chart shows that the COS price has been in a consolidation phase in the past few days. The coin has formed a symmetrical triangle pattern that is shown in blue. It is also oscillating along the 25-day and 50-day moving averages while the Average True Range (ATR) indicator has continued dropping.
Therefore, with this triangle nearing its confluence level, there is a likelihood that the Contentos price will have a brakout in the near term. In my view, I suspect that this breakout will be bullish, with the next key resistance level being at $0.0075. On the other hand, if it makes a bearish breakout, the key support level will be at $0.0055.