CUC/USDT; technical analysis September 2022, daily chart
Dear users and fans of Cuprum Coin,
In order to give you the best possible insight into the technical movement of our Cuprum Coin on the market, our founder, a professional analyst and trader with 19 years of experience in all markets, decided after one month to show the technical support and resistance levels on the daily chart and briefly show his seeing;
“So, after a stormy start in August, and the various events we wrote about, and after a month of somewhat normal trading, I am free to show and explain my technical view.
Although I still think CUC/USDT liquidity is very poor, and it’s only been a little over a month since our listing, the daily technical picture still shows some important levels of support as well as resistance.
Therefore, you can see on the chart that the highest CUC level in September was 7.00 USDT, while the lowest was 3.00 USDT. In my view, both levels were reached at certain moments due to lack of liquidity, although the bottom with a fairly large amount of sales at that time of some 400 CUCs.
What is much more relevant though is the strong support level, which is between 4.00 and 4.50 USDT, as well as the current first strong resistance level between 5.30 up to 6.00 USDT.
I believe that this strong level of support, apart from the technical sense, is also strong from a psychological point of view, especially because in the past month the lowest daily closing level was 4.30 USDT, while the highest daily closing level was 5.80 USDT.
Although our pre-sale buyers continue to put selling pressure around the 5.00 to 4.50 USDT level, my view is that very few will decide to sell below 4.00 USDT, which has proven to be very rare so far, as I have already mentioned above, only in one day in September.
In my career I have made many short-term as well as long-term technical analysis, but also movement predictions that have turned out to be correct, (a few examples of what I have done publicly and for free) I will never do that here, of course because CUC is my crypto currency.
However, I will continue to provide you with monthly technical analysis and levels that I consider relevant to help you buy, but also to sell our CUC.
Given that CUC is still in a very early stage of market creation, with low liquidity the levels shown can be easily exceeded, but with the increase in liquidity the technical picture will become stronger and stronger, I believe already at the end of this year 2022.
At the end of this article, I will write something about the importance of TA in trading, and investing.
Many retail traders and investors ignore TA, but it is very important in the movement of all currencies, cryptocurrencies, stocks, commodities, etc. Without it, trading wouldn’t make any sense. I’ve always said this about currency and stocks movements; fundaments determine the movement in the long term, and TA determines how it will reach that level. Linear movement never exists, because then there would be no profit in trading.
Although it is a little different with cryptocurrencies, because 99.99% of them have no fundamental value, TA is very important in the movement. Remember my TA with BTC and ETH when I predicted the H&S pattern and the potential ATH when I started the CUC pre-sale. It’s working for sure, don’t ignore the same.
Btw. CUC has a fundamental value, one of the rare in the market, think of that when you study my analysis. 😉
Take care and always think twice before making a decision to buy or sell.”
Founder/CEO, Cuprum Coin