DigitalCash / Dollar Cryptocurrency Forecast
DigitalCash / Dollar cryptocurrency downgraded to Hold/Accumulate
(Updated on Apr 24, 2024)
The DigitalCash / Dollar cryptocurrency price fell by -3.81% on the last day (Wednesday, 24th Apr 2024) from $31.52 to $30.32. During the last trading day the cryptocurrency fluctuated 6.64% from a day low at $30.26 to a day high of $32.27. The price has been going up and down for this period, and there has been a 2.64% gain for the last 2 weeks. Volume has increased on the last day by 47 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 49 million shares were bought and sold for approximately $1.49 billion.
The cryptocurrency lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $28.53 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 20.82% during the next 3 months and, with a 90% probability hold a price between $34.48 and $57.15 at the end of this 3-month period.
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DASHUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 9.03%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The DigitalCash / Dollar cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $30.56 and $34.78. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely.
Support, Risk & Stop-loss for DigitalCash / Dollar cryptocurrency
DigitalCash / Dollar finds support from accumulated volume at $29.88 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $2.01 between high and low, or 6.64%. For the last week, the cryptocurrency has had daily average volatility of 5.80%.
Our recommended stop-loss: $29.27 (-3.46%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (DASHUSD) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect DigitalCash / Dollar to open at $30.95, and during the day (based on 14 day Average True Range), to move between $27.41 and $33.23, which gives a possible trading interval of +/-$2.91 (+/-9.60%) up or down from last closing price. If DigitalCash / Dollar takes out the full calculated possible swing range there will be an estimated 19.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $29.88 (1.45%) than the resistance at $30.80 (1.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is DigitalCash / Dollar cryptocurrency A Buy?
DigitalCash / Dollar holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.323 Hold/Accumulate Downgraded
Predicted Opening Price for DigitalCash / Dollar of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $30.95 ( 2.08%) | $30.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DASHUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.96 | 8.71 % | |
| R2 | 32.19 | 6.17 % | ||
| R1 | 31.72 | 4.61 % | ||
| Current price: | 30.32 | |||
| Support | S1 | 30.18 | -0.455 % | |
| S2 | 29.71 | -2.02 % | ||
| S3 | 28.94 | -4.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.06 | 15.63 % | |
| R2 | 32.09 | 5.84 % | ||
| R1 | 30.80 | 1.58 % | ||
| Current price | 30.32 | |||
| Support | S1 | 29.88 | -1.45% | |
| S2 | 29.54 | -2.57% | ||
| S3 | 28.10 | -7.32% |
FAQ
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