CUC/USDT technical analysis June 2023; a roller coaster ride
CUC/USDT graph, candlesticks and lines. TA June 2023
Dear users and fans of Cyprus Coin,
During June, we published new documents Proof of assets (June 2) and Legal opinion (June 16), and we announced the creation of the CUC BEP20 coin that was released on the Mainet network, and on June 6, we announced a new team. But, unfortunately, none of the above brought long-term optimism to the WhiteBIT exchange.
Thus, the month started at a level around 1.80 USDT, and ended at approximately the same level. Although the price went up to 2.50 USDT at the beginning and in the second part of June, the buyers did not have enough desire to go further, and gave up to the pressure of the sellers who managed to bring the price back to around 1.90 USDT at the end of the month.
So, CUC/USDT is currently testing support at 1.80 > 2.00 USDT, and if it breaks, the next one is at 1.35 > 1.50 USDT. We believe that this is a lower limit below which sellers would not go down and exert long-term pressure.
On the other side on the way up, the first resistance could be at the level around 2.00 USDT, and the next stronger one at around 2.50 USDT. We suspect that the price will go higher at this moment towards the third, resistance located at 3.50 > 3.80 USDT.
Volume has decreased quite a bit in the last few days, hovering between 6k and 35k USDT per day.
Let’s see what July will bring. For the beginning of the month, we have strong price pressure.
CUPRUM COIN, The Nano Commodity of the Future
