42-coin Cryptocurrency Forecast

Strong day for 42-coin cryptocurrency price on Wednesday rising 6.87% to $47,219.26
(Updated on May 01, 2024)

42USD Signals & Forecast

Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The cryptocurrency should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The 42-coin cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $47,366.59. On a fall, the cryptocurrency will find some support from the short-term average at $45,817.96. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -15.54%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for 42-coin cryptocurrency

42-coin finds support from accumulated volume at $45,140.59 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This cryptocurrency has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $3,043.27 between high and low, or 6.89%. For the last week, the cryptocurrency has had daily average volatility of 5.51%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (42USD) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect 42-coin to open at $46,204.84, and during the day (based on 14 day Average True Range), to move between $43,661.29 and $50,777.22, which gives a possible trading interval of +/-$3,557.96 (+/-7.53%) up or down from last closing price. If 42-coin takes out the full calculated possible swing range there will be an estimated 15.07% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $47,450.54 (0.49%) than the support at $45,140.59 (4.40%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is 42-coin cryptocurrency A Buy?

The 42-coin cryptocurrency holds several negative signals and despite the positive trend, we believe 42-coin will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency.

Current score: -3.646 Sell Candidate Unchanged

Predicted Opening Price for 42-coin of Thursday, May 2, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.