Here’s one for my metaverse buddies!
Cudos just busted above its long-term consolidation pattern to signal that more bullish moves are in the cards.
Just how high can it go?
CUDOS/USD: 4-hour
CUDOS/USD 4-hour Forex Chart
Decentralized blockchain Cudos is joining forces with Dream VR to build a metaverse that brings gaming, DeFi, entertainment, NFTs, online real estate (and more!) all in one platform.
Sounds pretty exciting, huh?
No wonder CUDOS/USD busted through the top of its symmetrical triangle pattern!Price is pulling back to the former resistance level, which happens to line up with a longer-term area of interest. Stochastic is just starting to turn lower, so the correction might keep going until oversold conditions are met.
Just stay on the lookout for a bullish moving average crossover that seems to be underway. These indicators might also hold as dynamic support levels on a larger pullback.
If bulls keep charging, CUDOS/USD could be in for a rally that’s the same height as its triangle pattern.
Keep in mind that the collab between Cudos and Dream VR is still in its early stages, so more details are yet to be announced. Cudos has been striking partnerships left and right, following its successful Project Artemis testnet and leading up to its mainnet launch soon.
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