Bullish or Bearish CUDOS technical analysis
According to Coingecko CUDOS currently stands at rank 532 (fluctuating) with a total market capitalization of around $75,935,224 with a max supply of 10 Billion and a circulating supply of 2,246,870,715.
Currently, we can see that the entire crypto market is looking in a bearish movement. However, as per the technical point of view, the CUDOS is still looking Bullish in this bearish market. Fundamentally, CUDOS leading with the great project and team behind it is working hard for it.
CUDOS Market Price All-Time Basic Technical Chart.
If we look at the above CUDOS chart from all-time then it’s a clear understanding that the Support level was strong and up movement has already started, there will be chances for the bottom out here which mean the price may go high from this bottom level. The investor has to look at this level because the price for such an innovative Crypto project will not come again.
CUDOS Market Capital All-Time Basic Technical Chart.
Not to worry even the Market Capital chart looks in a down way as it is expected that short selling is possible in the current bearish crypto market. However, if we look from the start then it is a clear understanding that Market Capital is still very high from the first which is a good sign for stability.
1-Day Candle Chart with Support & Resistance Level.
In the last few articles, we mentioned our first target that is around $0.04 — $0.05 which was achieved in previous trading sessions. If we look at the current chart with Support and Resistance, we can see the price went above resistance and gave a good breakout, currently due to short selling the price moved down but still, it is around support and resistance that resistance can become support here and further rises in a price.
1-Day Candle Chart with Rate Of Change (ROC) Indicator.
The ROC indicator is arranged against zero. When the value of the ROC indicator moves above or below the zero line accordingly we can say the Bullish and Bearish sides, but sometimes it happens when the value of the ROC indicator moves above or below the zero line quickly it moves reverse hence we draw a line at the average below level.
We can see the value of the ROC indicator has moved up from the below average level and currently the value of the ROC indicator is at the same place, this can be another good sign and level for investors to buy at dip because as per the history the price of CUDOS may go up from here.
1-Day Candle Chart with 200 Moving Average Level.
200 MA is normally used by long holder traders and it helps to find the strength in Assets. Due to Newly coin the 200 MA display on the CUDOS chart from mid of August 2021. In the first arrow, we can see how the CUDOS price reacted from the 200 MA level, however, due to recent short selling the price of CUDOS again came back to the 200 MA level, this is normal behavior of the market.
Looking at the first arrow and further rise in a CUDOS price, the second arrow could be a second chance for investors because as per the 200 MA concept the price can start moving up from here, and maybe possible that it will not come back at the same level again. This means CUDOS has been given a second chance at this level.
1-Day Candle Chart with Trend Line.
The Trend line also still shows that the CUDOS price is in the up direction and currently coming towards the Trend Line which will be a good time for investors. The CUDOS price is above the Trend line so currently do not have to worry about the current crypto bearish market, even the CUDOS price broke the Trend line and started moving down. We have next support very close as per the Support and Resistance levels.
CONCLUSION.
Through this article, we have seen CUDOS Price is still looking Bullish in a current Bearish crypto market. CUDOS moves up with support at every level as per the different Technical Indicators, so there are a lot of safe zones if investors can consider all these levels at this early stage then the risk ratio will be also very small.
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.
For more, please visit:
