Technical Analysis For CUDOS.
According to Coingecko CUDOS currently stands at rank 488 (fluctuating) with a total market capitalization of around $69,915,803 with a max supply of 10 Billion and a current circulating supply of 2,868,727,379.
CUDOS Market Price All-Time Basic Technical Chart.
All-time basic chart, here we can see that the CUDOS price is around its previous level from where it was pumped which means the CUDOS price is still around its Support Zone. Currently the entire cryptocurrency is in a bearish trend and in such conditions we can find CUDOS price is still around its Support level which is a good sign of strength.
CUDOS Market Capital All-Time Basic Technical Chart.
All-time basic chart with its Market Capital, we have drawn a horizontal line to show that the Market capital is sustained in CUDOS and just dropped to its previous down level and not more. At this point either we can go for hold and wait for the situation or look at the previous movement that was going up from this same level, so it will be a good level to average the position.
1-Day Candle Chart with Possible Support Levels.
If you remember the previous article in which we have shown the 1st level Support and the 2nd Strong level support, Now today we can see how our levels are performing, we can see in the chart that the CUDOS price dropped but sustained at our 2nd and Strong Support Level.
Some cryptocurrencies are slowly trying to recover and looking at the Chart it looks CUDOS price is an accurate level, previously it has given straight one side up upper movement from this same level. Now CODOS price is at the same level for which we already prepared as discussed in the last article. Again, at this point either we can go for hold and wait for the situation or look at the previous movement that was going up from this same level, so it will be a good level to average the position.
1-Day Candle Chart with Chaikin Money Flow (CMF) Indicator.
The Chaikin Money Flow value moves around 0 levels between + and — so it is possible that the value can go up and down from 0 level multiple times, hence if we take average level from 0 like +10 or +20 and -10 or -20, here average set to around -20 according to the previous moves so we can see even CUDOS price was dropped in previous trading sessions, still its an average level according to the Chaikin Money Flow indicator hence there is no need for panic selling and we have hold position tightly or it will be good level to average the position.
1-Day Candle Chart with Bullish Falling Pattern.
Bullish Falling Pattern is one of the up trend signs in which the price falls 3 times and each fall is lower than last fall, at 3rd fall level it is possible that the trend can take the reverse mode which means bearish change to Bullish.
Currently in CUDOS price we can find the same pattern, the current 3rd fall level and our 2nd strong Support level are at the same level which become more strong because two pattern levels are at the same point. As per indicator It will be possible that trend can go up now and also cross previous high points.
CUDOS Mainnet Launch.
CUDOS mainnet launch has been posted and expected to be in early February. There will be more changes coming with the Cudos mainnet launch like Interoperability, Developer ecosystem, Powering the metaverse, Token utility, Lower gas fees, Decentralization. This mainnet will switch CUDOS from the Ethereum network to the own Cudos network blockchain.
CONCLUSION.
Through this article, we see that CUDOS market capitalization is still with good strength. The complete cryptocurrency system is in bearish movement but we have already cleared with our level and have seen that the CUDOS price is behaving like the same so we don’t need to go with panic selling. As mentioned either we can go for hold and wait or current level is good to average the position. Migration of CUDOS from Ethereum network to its own Blockchain Network is postponed and expected to launch in February 2022, this migration will give a big boost to CUDOS.
This article is just for an educational purpose and not for investment suggestions. Please do your own study and research before any investment.
About Cudos
Cudos is powering the metaverse bringing together DeFi, NFTs and gaming experiences to realise the vision of a decentralised Web 3.0, enabling all users to benefit from the growth of the network. We’re an interoperable, open platform launchpad that will provide the infrastructure required to meet the 1000x higher computing needs for the creation of fully immersive, gamified digital realities. Cudos is a Layer 1 blockchain and Layer 2 community-governed compute network, designed to ensure decentralised, permissionless access to high-performance computing at scale. Our native utility token CUDOS is the lifeblood of our network and offers an attractive annual yield and liquidity for stakers and holders.
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