Technical Analysis of CUDOS
According to Coingecko CUDOS currently stands at rank 535 with total market capital around $55,097,984 with the max supply of 10 Billion and the circulating supply of 1.65 Billion
The Basic Chart for All time.
If we check the basic overview for all time chat, we can see that CUDOS current market price is very close to resistance. Here, we see the pattern that the previous Support level(Feb 2021 — May 2021) is now acting as resistance where the current price is standing, this is one of the positive signs for the next bullish trend in CUDOS, why? As we know Support level change to the Resistance and Resistance Change to Support at certain period of time, from May 2021 CUDOS is below the last support where we can say that Support change to Resistance hence still it is standing below support level, but now we can see from last few trading session the CUDOS trying to break its Resistance, so as said above Resistance can change to Support, so here if it breaks its resistance then bullish trend is sure and this level will be act as next Support. Now lets see CUDOS with different Technical Indicators.
1-Day Candle Chart with Support & Resistance Level.
In the 1-Day Candle chart we can clearly see the levels of Resistance and the Support. The highlighted part shows that the CUDOS is now trying to break the resistance level, if it does which looks positive for it then we may see a one side big bullish movement in the next few trading sessions.
1-Day Candle Chart with SuperTrend Indicator.
SuperTrend Indicator is one of the best indicators to find the current market trend. The current support level according to the SuperTrend Indicator is $0.026. The highlighted part in yellow shows that the CUDOS has already broken the SuperTrend Resistance Level and then 3 time touches the the Support Level in last few trading sessions, the current movement of CUDOS is easily looks going up, also it is above the Support level, so this is another Bullish sign of CUDOS which shows that trend is now moving to the Bullish side and we should not miss this.
1-Day Candle Chart with Bollinger Bands Indicator.
Bollinger Bands Indicator helps to identify the overbought and oversold zones, in simple words the upper line indicates the overbought level and lower line indicates the oversold level. The highlighted part shows that the CUDOS is moving towards the overbought which means currently there is a buying pressure available, this is another key point for the Bullish trend in CUDOS. Buying pressure will take CUDOS at upside which mean bullish and as per the chart we can see it’s now trying to go at the level for $0.040, the buyers can take this as an opportunity to go with the buying pressure and soon it may reach to its all time high, then we may see continue bullish pattern.
1-Day Candle Chart with Support & Trend Line.
Here we can see that the Support Level is now continuing with the Trend Line. The Trend Line also helps us to know in which direction the price is moving whether it is going down or up.
The Trend Line clearly shows that the Price is moving up and if we see at the Support Level then we can understand that the Support Level is not so far if we consider the current market price. Since, Support Level is not so far and Trend Line shows up side, this is a good level for buyers to enter at the right time.
CONCLUSION.
Through this article, we have seen CUDOS with multiple Trading Indicators and its market price movement according to the Indicators. The applied indicators are showing the Bullish pattern in the CUDOS. The current market price looks like the right time to BUY CUDOS because the Support level is not so far and the Bullish side is an open target. 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
The Cudos Network is a layer 1 blockchain and layer 2 computation and oracle network designed to ensure decentralised, 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.
For more, please visit:
