Acoin Cryptocurrency Forecast

Is Acoin cryptocurrency still a buy after falling -5.33% on Wednesday?
(Updated on May 01, 2024)

ACOINUSD Signals & Forecast

There are few to no technical positive signals at the moment. The Acoin 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 $0.0037 and $0.0056. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -55.99%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this cryptocurrency may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Acoin cryptocurrency

There is no support from accumulated volume below today's level and given the right condition the cryptocurrency may perform very badly in the next couple of days.

This cryptocurrency may move very much during the day (volatility) and with periodic low trading volume this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0002 between high and low, or 7.11%. For the last week the cryptocurrency has had daily average volatility of 4.06%.

Acoin is oversold on RSI14 (17). Some cryptocurrencies may drop long and hard while being oversold on RSI before turning, which increases the general risk.

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

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

For the upcoming trading day on Thursday, 2nd we expect Acoin to open at $0.0035, and during the day (based on 14 day Average True Range), to move between $0.0031 and $0.0038, which gives a possible trading interval of +/-$0.0003 (+/-10.08%) up or down from last closing price. If Acoin takes out the full calculated possible swing range there will be an estimated 20.16% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $0.0036, some $0.0002 (5.63%) from the current price of $0.0034, our system finds the risk reward not very attractive.

Is Acoin cryptocurrency A Buy?

Acoin holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this cryptocurrency.

Current score: -5.665 Strong Sell Candidate Unchanged

Predicted Opening Price for Acoin of Thursday, May 2, 2024

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