NULS/USD is trading down more than 80% from its record level, and according to technical analysis, this crypto remains in a bear market.
Open-source community blockchain project
NULS is a global open-source community blockchain project with modular-based architecture enabling customizable modules and cross-chain operability.
Existing blockchains are limited in performance, and the demand to solve real-world use cases is becoming more evident.
Many blockchains that currently exist have a narrowed focus on the problems they selectively solve, while NULS can comfortably fit the needs of a wide range of businesses and easily handle development improvements without threatening the underlying protocol. The NULS team added:
The lack of talented blockchain developers is a barrier that will continue to exist and hinders the growth of the industry. NULS will become the solution to this problem with the goal of building an ecosystem that benefits developers, businesses, and supporters of the project.
NULS provides fluid, cost-effective, time-saving solutions for developers and empowers them to develop a market-leading product.
Developers don’t have to be blockchain experts to build their applications, and they can evolve and scale up much more quickly with NULS.
The microservice-layer design of NULS makes it easy for developers to quickly create modules for anything and customize their side-chain to fit with their requirements.
It is important to mention that NULS is a community-driven project while the NULS Foundation ensures the cooperation and success of the ecosystem.
The utility token of this project also has the name NULS, this token is more than just a store of value, and it can also be used to set up nodes, create tokens, pay transaction fees, reward miners, and vote.
Users can stake NULS in many projects on the NULS SCO platform or stake to earn more NULS or NVT through cross-chain technology.
NULS is continuously working on new features, and many important projects have already collaborated with NULS. The most popular ones include BitMart Labs, Waterdrop Capital, Chain Capital, IBG, and Ulysses Capital.
Technical analysis
Technically looking, NULS remains in a bear market, but the current price level represents good value for what you pay, and maybe now could be a good time to find a good entry point.
If the price jumps above $0.50, it would be a signal to trade this cryptocurrency, and the next price target could be around $0.60 or even above.
The current support level for NULS stands at $0.30, and if the price falls below it, we have the open way to a support level that stands at $0.20.
Summary
NULS is a global open-source community blockchain project that offers a simple programmable environment. Technically looking, NULS remains in a bear market, but the current price level represents good value for what you pay, and maybe now could be a good time to find a good entry point.
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from Market Analysis – Invezz
