Dear users and fans of Cuprum Coin,
At the beginning of 2023, we saw the rise of the crypto market, after more than a year of sell-off. Unfortunately, although our CUC did not have the strength to pull like the rest of the market, in January 2023 it had the smallest price range since we started trading on the market.
However, considering the still very small volume, as well as the very small quantity on ask/demand, large price fluctuations are easily possible.
Although it is noticeable that the bears have slowed down a bit in selling, they still hold the price very firmly in their hands, placing sell orders at a narrow distance.
What pleases us is that the technical picture is taking shape more and more, and we have more and more indicators that will mean a lot to us tomorrow when the volume increases. Thus, on this analysis, we can see the so-called MA 55 and MA 100 (MA – Moving Average), which I consider very authoritative in the price movement.
So we can see that even these lines are not in our favor because they push the price further down, and a reversal of sentiment can happen if the price crosses and stabilizes at around 3.50 USDT for a few days.
So, on the chart we can see how the price in January squeezed between a low of 2.5951 USDT and a high of 3.3494 USDT. It touched the lowest on two occasions, on January 6 and January 26, while it touched the highest on January 13.
Support is still being shown at the levels of around 2.50 to 2.80 USDT and if the sellers decide to sell at that level, a new buyers appears again.
These are still very small quantities, but we can say that sellers are also not inclined to oversell their CUCs below the price of 3.00 USDT, where perhaps 100-200 CUCs could be collected, not more.
It’s a strange that buyers don’t recognize this opportunity, because CUC is trading at less than 3% of its valuation, and that will be very indicative at some point. Warren Buffet would say for this; “Price is what you pay, value is what you get”. Think about it, it might be remembered in the future as far as CUC is concerned, and we can’t go back in time.
A small range in the price can sometimes mean breaking up or down, we’ll see what February will bring us in that regard.
CUC/USDT analysis December 2022.
CUPRUM COIN, The Cryptocurrency of the Future