Cryptocurrency

Cindicator CND Price Analysis

About Cindicator

Founded in 2015, Cindicator builds predictive analytics by merging collective intelligence and machine learning models.

Price History

Since June 2019, Cindicator (CND) has been working inside a well-defined range where the vast majority of trading volume since 2017 has taken place, as shown by the coloured VPVR bars on the right-hand side of the chart below.

Cindicator price prediction CND bitcoin btc

Over the past week price has dipped back into the accumulation range, now sitting directly above the POC (red line) – which is defined as the price level for the selected time period with the highest traded volume.

The Bull Case

Not only is price set to execute a topside retest of the POC in the coming days, but it will likely do so while simultaneously retesting a daily 100/200 Simple Moving Average (SMA) cross, generally considered to be an extremely bullish signal. Additionally, with 61% of token-holders having been holding for more than a year, as well as 60% of exchange volume over the past 7 days being outgoing, it appears that long-term CND whales have been continuing to add to their positions. If price can indeed find support above the POC and SMA, price would likely make a significant move to the upside with the first target area being in the 175-195 sats range representing a 75-95% increase from where it sits now.

The Bear Case

With only 33% of long-term holders sitting in profit at current prices, a failure to hold either the POC or SMA – be it on its own or due to Bitcoin price action – may lead to a strong capitulation move and push Cindicator prices to at least the bottom of the accumulation zone in the 50-65 sats range.

Yaniv Son is a cryptocurrency trader and former professional poker player turned poker coach and author at spinandgostrategy.com

Relevant news