Cook (COOK) is one of the newest members of the crypto world this year that catches the attention of global investors. Specifically, Cook was able to achieve an all-time-high (ATH) price of $0.8 in one of the crypto exchanges upon its listings. Truly, this kind of performance could drive high emotions inside the crypto market.
In terms of its technology, the COOK network aims to bridge the world of decentralized finance and offers it up as a curated menu of funds. Furthermore, the COOK platform uses a cross-chain technology to capture as many crypto users as possible into its network.
Moreover, the COOK network has its own native token: COOK. Interestingly, the COOK token can be used to pay for all the premium services offered on the platform. This token can be found or bought on exchanges such as Gate.io, Hoo.com, and MXC, to name a few.
Now that we are already knowledgeable about COOK and its technology, let us see the charts below in this COOK price analysis 2021 article.
Cook (COOK) Technical Analysis 2021
As seen in the graph above, COOK has managed to perform a price boost from its bearish price dip. This price boost covers a growth rate of almost +180% from April 26 to May 10. Truly, this event brings hope to the traders and investors of the network.
However, after the price surge in May, COOK broke out from its uptrend position at a decline rate of over -80%. As a result, the price of COOK nosedive from $.11 to $.019, a level that could cause FUD.
In this scenario, COOK must be able to find a way to raise its position against the bearish market. There are many ways to do it; one of them is by increasing its market cap and the volume of traders on its platform. In this case, COOK may regain its composure and smash the resistance level 1.
If it does, COOK can be seen trading above $.05, which is the pathway to reach resistance level 2. At this level, the crypto must endure the volatility of the crypto market in order to be back at the uptrend position of $.11.
Let us say that COOK made it successfully to $0.11, the price of COOK might further expand. In other words, the crypto may have the chance to pump and rally its position towards the skyrocketing price of $0.2 to $0.5 before the year ends. Of course, this will all be possible if the bullish market continues to favor COOK.
Conversely, if COOK fails to defend its position against the bearish market, the crypto’s price might further decline. As a result, COOK might have a hard time lifting its price if it goes lower than its $0.15 support level.
Meanwhile, the moving average convergence/divergence (MACD) of the crypto remains above the signal indicator. This means that there is a big chance that the crypto might experience a bullish trend. For this reason, traders and investors can still continue to trade with confidence without the fear of any major price reversals.
The crypto world is still recovering from the market decline in the past few weeks. The COOK crypto is one of the cryptocurrencies that hold its ground against the bearish market. For this reason, the price analysis for COOK in 2021 is $0.5.
Cook Protocol is developed on a cross-chain solution that establishes a generic asset management platform. It has its native digital asset called Cook Token.
Users can purchase COOK tokens from digital currency exchanges such as MXC.COM, and Gate.io
COOK is a good investment in 2021. Best of all, COOK has a huge possibility of overtaking its prior ATH of $0.35 this year.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.