Analyzing CUDOS Price Action
According to Coingecko CUDOS currently stands at rank 541(fluctuating) with a total market capitalization of around $63,562,674 with a max supply of 10 Billion and a current circulating supply of 2,837,535,061.
CUDOS Market Price All-Time Basic Technical Chart.
As per the basic chart of CUDOS, the price looks moving in a downtrend. The Trend line is showing how the price is touching the upside and then moving to the downside. However, if we check previous low points so we can see that it’s actually not a big fall. Still, at this moment, we need to invest carefully as its a big Support Zone, no doubts that CUDOS will pump big but for some reason, if it does not happen like that then we can enter later when there is a possibility and take a good amount of quantity at the bottom.
CUDOS Market Capital All-Time Basic Technical Chart.
Comparing CUDOS price, the market capital seems to look good, still, it is on the uptrend side.. The Market capital is currently below the Black line (Support-Resistance) and trying to go up means about to break the resistance. If market capital breaks this line and starts moving above it then there will be a huge possibility that CUDOS price will pump straight upside.
1-Day Candle Chart with Trend Line.
As per the Trend Line on 1 Day chart, we can see the CUDOS price is in a downtrend movement. But we can also need to understand that it’s a strong Support zone where currently CUDOS prices stand.
The investor can patiently monitor this level and look for the Trend Line, when the price is close to the Trend line then either it will break or again it will go down as similarly happened last 3 times. When price breaks Trend Line then we can enter as after breaks we may see the next bullish trend.
The current Price of CUDOS is at the Support Zone which is also a good level to have some amount of tokens.
1-Day Candle Chart with Support — Resistance
The horizontal line is indicating about Support and Resistance. Overall the Cudos price is at Support Level but we look closely then we can see the current price is actually below the line and about to cross.
If the Cudos price successfully crosses the line at above then we can say bottom out or resistance breakout which further can lead CUDOS price up. However, it’s a decision-making scenario where either you can go for a wait and watch, see if the price crosses the line, or enter now and hold some tokens.
1-Day Candle Chart with Bollinger Bands.
Bollinger bands are clearly saying that there will chance for a big upside as CUDOS price is about to cross the upper band of the Bollinger band, this means it is possible that the huge buying may see around this level.
The Bollinger band lower and upper are very close no,w, when this happens it is possible that price can start moving heavily either upside or downside. However, looking at the other indicators currently, the CUDOS price is a Support zone so here the chances are for an upside rally.
Here also we can go for the wait and watch, both upper and lower bands are close so between these two band there will be very less movement/fluctuation, so either we can wait and see, if price starts moving up then we can enter or if somehow price down then the lower band is close so we will get best opportunity to buy at the lower band.
CONCLUSION.
Through this article, we see that CUDOS market capitalization is still on the upside. There is no huge fluctuation currently so we have enough time to see the price and make a decision at the right time. Overall the CUDOS price is at support Zone and can possibly bottom-out means the next movement can expect to be bullish.
This article is just for an educational purpose and not for investment suggestions. Please do your own study and research before any investment.
About Cudos
The Cudos Network is a layer 1 blockchain and layer 2 computation and oracle network designed to ensure decentralized, permissionless access to high-performance computing at scale and enable scaling of computing resources to 100,000’s of nodes. Once bridged onto Ethereum, Algorand, Polkadot, and Cosmos, Cudos will enable scalable compute and Layer 2 Oracles on all of the bridged blockchains.
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