Technical Analysis For CUDOS

According to Coingecko, CUDOS currently stands at rank 704 (fluctuating) with a total market capitalization of around $18,607,398 with a max supply of 10 billion and a current circulating supply of 3,526,197,954.

The price of CUDOS keeps going down in a lower-low formation. The circulating supply keeps increasing, which could be one of the possibilities for why the price keeps going down.

Maybe the price may go down a little more, but it is a good time to keep adding a few amounts of coins to a portfolio to build a huge quantity so that if the CUDOS price tries to go up to its all-time high level, we will get good returns.

Even though the price keeps going down, here we can see the total invested capital is still sustaining around its July 21 support level. Hence, as said, adding a few amounts of coins to a portfolio to build a huge quantity can be a good idea.

Here we can guess that the price is getting down but investors are still buying due to the overall capital being sustained.

Currently, it is not difficult to find support and resistance. Here, we can see that the CUDOS price has shown pump a couple of times in the last 2 months and the current price is at that same level, which can act as support and take the price up again.

In the last 2 months, the Cudos price moved up a couple of times, from around $0.005 to $0.007 and $0.0085. In the short term, we can use these current levels to achieve average returns.

The indicator Superichi is showing the current support and resistance levels that we have seen above according to its low and high levels.

The indicator Superichi shows the exact support level at $0.00518 for buying and the resistance level at $0.00844 for selling.

If the CUDOS price breaks out at $0.0085, then the next possible target will be around $0.01.

As said earlier, based on history, that the price may pump again. The result looks correct; the price started to pump on October 7th, 2022, but it did not touch the previous high point, and the price is down just after trying to cross the pivot level.

According to the Pivot indicator, till the CUDOS price is below the Pivot level, the bearish movement is ON, and once the CUDOS price gives a breakout above the Pivot level and closes above, we can say the beginning of the bullish movement.

The Pivot 1st Support currently shows at 0.005 but the level is at $0.0046. Hence, as said above, our support level for buying at $0.005 is not wrong.

The crypto market is currently in a bearish trend, but we never know when the bottom will come out and the bullish trend will start. However, in this article, we have seen the possible levels of the CUDOS price and how the movement can be expected based on support and resistance levels.

The key point here is that the CODOS price is in a lower-low formation but the total capital is still as it is, showing good strength and potential.

This article is just for educational purposes and does not make investment suggestions. Please do your own studies and research before making 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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