CUDOS Technical Analysis to stay updated with price actions
According to Coingecko CUDOS currently stands at rank 668 (fluctuating) with a total market capitalization of around $20,332,524 with a max supply of 10 Billion and a current circulating supply of 3,458,206,156.
CUDOS Market Price All-Time Basic Technical Chart.
Since the entire Crypto market is currently suffering from the bearish trend, as per the above basic chart, we can see that the CUDOS price also keeps moving down in a lower-low formation. However, there was no huge or sudden fall we have seen and the price slowly moved down which is good because in such a movement we get enough time to invest at some dips.
When the entire market is in a bearish movement, we just can’t think more and consider a good opportunity to keep adding small amounts into the portfolio so that quantity keeps increasing which will give a good benefit in the future. The circulating supply is also increasing slowly.
CUDOS Market Capital All-Time Basic Technical Chart.
Even though the Cudos price is in a lower low formation, we can see the Cudos Market Capital is still sustaining around its support level from where it was going up previously.
This can also state that it seems a lot of transactions are executing at this level and investment keeps getting added at this level.
1-Day Candle Chart with Moving Average 50/100/200.
The bottom line is 50 days, the middle line is 100 days, and the upper line is 200 days. Here, we can see the CUDOS price movement since March 2022, after a dip the price tried to go up but only touched the 50 days and 100 days then again got down.
The short trader can take benefit from such movements as buying at the dip and selling when it touches the 50 days and 100 days, also short traders can use this until the 50 days do not cross to the 100 days, when it crosses then instead of selling the opportunity may be available to hold more.
The long traders as said above can keep adding a small amount at every dip and increase the quantity in the portfolio.
The key point that needs to be noted here is that the distance between 50 days and 100 days is getting closer and it is possible that the 50 days will cross 100 days soon which will be a good indication of the up trend.
1-Day Candle Chart with Pivots Points.
Looking at the Pivot indicator, we can see the price was pumped from the S1 at the end of last month. Price movement drawn by a circle, we can see a quite similar pattern of this movement was seen at the end of July 2022, and then next price was pumped big.
However, the current price is below the Pivot level which indicates that the market movement is still bearish. But, it is still at the same level as where the price pumped at the end of last month which creates the possibility that the price may start pumping again.
1-Day Candle Chart with RSI.
According to the RSI indicator with 14 days, we can see that the RSI price just crossed a lower level from below and entered which was a good point to take an entry. However, the current CUDOS price is still at the same level hence an opportunity for entry is still looking active there.
There will no much difference in the CUDOS current price and RSI’s lower level, but still, safe traders they can wait till the RSI price come down again around the lower level, once touch then a good point to take an entry, then either sell when RSI touches middle level or can hold if crossed it, but if crossed it again from above then can take a decision whether hold or sell.
In this article, we have seen the possible levels of the CUDOS price and how the movement can be expected. Currently, the entire crypto market is suffering from a bearish trend, since the CUDOS price is undervalued hence it can be a good time to increase the quantity in the portfolio by adding a small amount.
The key point here is Moving averages of 50 and 100 are getting closer, if 50 somehow crosses 100 then we can expect a Bull rally, until that time we have also seen that there are some good levels for short-term trading.
This article is just for educational purposes and not for investment suggestions. Please do your own study and research before any investment.
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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