Technical Analysis For CUDOS
The CUDOS network is helping blockchain achieve its next adoption level. The underlying Cudo network has been under development since 2017, is live with over 300,000 users signed up in over 145 countries, and around 50,000 nodes running various blockchain and compute workloads on the Cudo network.
Some interesting facts about Cudos
- CUDOS seen a meteoric rise in user growth — 528% in just 1 year!☄️
- users of CUDOS have seen a 34% increase in Bitcoin revenue💰
- Their software is active on over 60,000 connected devices daily 🖥& software has been used to mine on over 4000 different types of hardware!🤯
Today 14th August 2021, the CUDOS is standing at $0.03 with its total market capital around $56,144,717, till now it is down by -3% in the last 24 hours trading session.
As per the latest data available on coingecko, the CUDOS is at rank 489 today in the Cryptocurrencies.
Circulating Supply: 1,616,127,223(approx. 1.6 billion)
Total Supply: 10 billion
According to the Technical point of view the CUDOS looks very strong on its chart and especially with its Market Capital.
The Progress Of CUDOS Market Capital
If we look at the all time Market Capital then we can clearly see that the total market capital of CUDOS is continually getting increased day by day.
From looking at the increasing market capital we can see the growth into the project and can predict the future price.
Based on Resistance and Support we are able to understand its future price, however to get accurate levels we will use SUPERTREND iNDICATOR.
This is the current chart of CUDOS which means we are looking at 14th August 2021. The Chart is set to 30 minutes.
Here, we can see that the current trending price of CUDOS is just close to the 200 MA, but support is still so far which stands around at $0.028 — $0.030. If we look at the previous move, fall was expected after such a big spike.
Now, we will see CUDOS with the 1day candle time frame.
Here, we can clearly see that the trend was respected to the Trend line but now it has broken(shown by arrow) already so here we can expect some spike anytime at this level.
Second thing, the SuperTrend Support Level has already been tested two times and today looks like again coming at the SuperTrend Support Level which could be the good time again to buy freshly or add more investment if already bought at any level.
One more thing we can notice in the 30 minutes candle chart and 1 day candle chart that Support is standing at around the same level $0.025 to $0.030.
Keeping the Trend Line as it is and if we try to look at the chart on Weekly basis, we can see the same levels and more confidence on its future price that we can easily see on the chart.
The $0.10 seems to be seen quickly in the next few trading sessions, and if it breaks the $0.10 level then we may miss the very good opportunity today.
Overall the CUDOS look strong on its chart as we see that the Market capital is also increasing day by day. Looking at the improvement in the Market capital and looking at the progress of CUDOS the current trading price seems to be undervalued which is a very good opportunity for an investment. However, it is just a Technical analysis view as per the chart reading for education purpose and this is not for any investment intention, please do your research and study before any investment.