NULS price analysis after recent sell-off

NULS/USD has advanced from $0.51 above $2 since the beginning of December, and the current price stands at $0.91.

Technically looking, NULS remains in a bear market, and the risk of further decline is still not over.

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.

NULS provides the perfect foundation to build your application and enables its users to customize their side-chain to fit with their requirements.

The microservice-layer design of NULS allows you to evolve much more quickly and to organize around autonomous cross-functional teams.

NULS was designed with a mission to solve problems that hinder the growth and development of blockchain.

Existing blockchains are limited in performance, cross-chain communication is still being explored, and according to the team behind NULS, users will stay away from blockchains that aren’t completely trustworthy.

The utility token of this project also has the name NULS, and it is important to say that it can be used to set up nodes, create tokens, vote, and stake. 

Users can stake NULS in many projects on the NULS SCO platform or stake to earn more NULS or NVT through cross-chain technology.

Many important projects already collaborate with NULS, and the most popular ones include BitMart Labs, Chain Capital, IBG, and Ulysses Capital. Mario Blacutt, Western Regional Director of NULS, said:

We want to implement a framework where companies can build their business solutions using blockchain technology in the most cost-effective way possible. Our partners enjoy the benefit of NULS technical expertise and blockchain business solutions in an ecosystem designed for success.

NULS is continuously working on new features and upgrades, which are very important for expanding its ecosystem.

The popularity of this blockchain project is rising across the globe, while more and more exchanges are offering NULS cryptocurrency.

Bears in control of NULS

NULS has achieved an impressive gain in a very short period, and it has reached highs above $2 on December 03.

NULS is currently down more than 50% from its recent highs, and the risk of further decline still persists.

Data source: tradingview.com

The strong resistance level stands at $1.5, and if the price jumps again above this level, it would be a “buy” signal, and we have the open way to the $2.

Summary

NULS is a global open-source community blockchain project that provides fluid, cost-effective, time-saving solutions for developers. NULS is currently down more than 50% from its recent highs registered on December 03, and the risk of further decline still persists.

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