Technical Analysis For CUDOS
According to Coingecko CUDOS currently stands at rank 604 (fluctuating) with a total market capitalization of around $25,928,780 with a max supply of 10 Billion and a current circulating supply of 3,325,917,323.
CUDOS Market Price All-Time, Basic Technical Chart.
As per the basic chart of CUDOS price, the price trend is still looking at the downside. Here, if we pick each high point from mid of October 2021 to till date, then we can see the current CUDOS price is moving out of the Trend line, we can say somehow the price is trying to sustain at the current level.
Till the price is moving around this level is a good time to keep investing a smaller amount weekly or monthly, and keep adding coins into the portfolio and hold.
CUDOS Market Capital All-Time, Basic Technical Chart.
The Total Market Capital in CUDOS still maintained its level and did not fall like its price which means the CUDOS market capital is still having good strength.
The CUDOS price may not be picking up trend movement due to current Crypto market behavior. However, the CUDOS Market Capital looks good. ,
As the CUDOS Market Capital is still moving at its support level from where it went up in July 2021 hence it may be possible that the Market capital will start increasing in CUDOS as its sustaining for a long time at this level only.
1-Day Candle Chart with Support & Resistance.
If we look at the CUDUS price chart from 12th May to till date, then we can see that the CUDUS price went up multiple times from where it is currently trading at, hence the bottom of this current range will be considered as Support which is $0.0078.
The upper level means the resistance level stands at around $0.012. Here either we can go for a short-term trade in which we can buy CUDUS at the current level and sell at $0.012. We can also buy a good amount of quantity at the current level and then sell 50% at $0.012, further holding the rest of 50%.
1-Day Candle Chart with Pivot Point Levels.
If we look at the CUDOS price by applying the Pivot Point indicator then, we can see the CUDOS price went up at the end of June 2022 and the start of July 2022, similarly, it went up at the end of July 2022 and the start of August 2022.
Also, we see above that the CUDOS price is currently trading at the Support Level from where the possible chances are for a price pump. Hence according to this, we can guess that the CUDOS price may rise during the end of the August 2022 period and the start of September 2022.
However, according to the Pivot point, the CUDOS price first-level support for August 2022 stands at $0.0065.
1-Day Candle Chart with Rate of Change (ROC).
Applying the Rate of Change (ROC) indicator, we can see that the price of the Rate of Change (ROC) has just crossed the 0 levels from below to above which means the price has just entered the positive zone. This is a sign of the bullish trend.
As we see above, the current CUDOS price is at its Support level and now we see that the Rate of Change (ROC) price has just entered the bullish side. The buyers can add assets at this level and for a short-term trade, the resistance will be the same as mentioned above, also as mentioned we can go to sell 50% at $0.012, further holding the rest of 50%.
CONCLUSION
In this article, we have seen the possible levels of the CUDOS price and how the movement can be expected. Even though the CUDOS price keeps moving down, we have seen that currently, it is moving outside of the downtrend, also the CUDOS Market Capital is not yet down and still sustaining at its support level which shows good strength.
This article is just for educational purposes 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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