Cudos token Technical analysis
According to Coingecko CUDOS currently stands at rank 603 (fluctuating) with a total market capitalization of around $27,832,187 with a max supply of 10 Billion and a current circulating supply of 3,373,824,633.
CUDOS Market Price All-Time Basic Technical Chart.
Looking at the basic chart of CUDOS price, the trend keeps moving downside. The CUDOS price keeps moving into the lower low formation hence it is hard to comment on what will be the last low point.
In this current situation, we can keep adding small amounts and increasing the quantity because even with a small investment, we will get double the quantity.
The CUDOS price moving down but with low volume and we have not seen any significant fall hence it is good that we can keep adding small amounts and patiently wait for a positive trend because the Crypto currency market is a dynamic market in which anything can possible at any time hence we should not lose this opportunity.
CUDOS Market Capital All-Time Basic Technical Chart.
The CUDOS price is in a lower low formation, but if we look at the Market capital in CUDOS, then we can see it is still above its all-time low.
Market capital in CUDOS is still around its previous support level which is a good sign to increase Market Capital at this level like the previous one which will further help to increase its price too.
1-Day Candle Chart with Bollinger Bands.
As per the Bollinger Bands, the CUDOS current price is trading on a Lower band. Here, if we look at the previous two points shown by the arrow, we can see the current price is somewhere around the same level.
The CUDOS price is at a lower band hence the oversold trend may end and buying may start at any time.
Previously it went up two times from this same current level, hence possible that the price may go up again from this level. We should also remember that as mentioned above that the price is currently lower low formation. Hence, instead of a big investment, we just keep adding small amounts and monitoring the movement of CUDOS price.
1-Day Candle Chart with Money Flow Index (MFI).
In this, as per the Money Flow Index (MFI), we can see the MFI price is just entered in the above 20 levels from the bottom which is a lower level.
It’s a very simple indication for short team trade, this can be a good level for entry or average and hold till the MFI price touches the upper level.
1-Day Candle Chart with Pivots Points.
According to the Pivot levels, the current CUDOS price is trading between Pivot Level and 1st Support, even though the price is not yet touched its 1st Support still needs to consider that the current level is a Support Level as we can see last 2 dips and then price went up from this same level.
The Pivot 1st Support stands at $0.006 and the Pivot Level is at $0.012. The month is ending today (31st July 2022) hence we can expect that this current level may become 1st Support in the next month, that is for the month of August 2022.
From looking at the past trend as per the Pivot levels, a Buy at the 1st Support will be the safe side and for a short trade, selling at the Pivot level will be a good decision.
As per coinmarketcap, below is the chart of total unique addresses that hold CUDOS in the last 3 months.
Top CUDOS addresses by balance.
As per coinmarketcap, below is the chart of addresses with the highest amount of Cudos holdings in the network in the last 3 months.
In this article, we have seen the possible levels of the CUDOS price and how the movement can be expected. The key point that we need to note here is that the CUDOS price is in a lower low formation, hence we can keep adding small amounts and increasing quantity will be a safe trade.
The Mentioned indicators in this article all show price at the bottom level which is the Support Level, hence as per Pivot this level can become 1st Support for next month that is August 2022. Even if the CUDOS price keeps moving down, we have seen that the CUDOS Market Capital is not yet down that much.
This article is just for an educational purpose 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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