Auroracoin Cryptocurrency Forecast

Auroracoin cryptocurrency downgraded to Sell Candidate
(Updated on Jun 22, 2024)

AURUSD Signals & Forecast

There are few to no technical positive signals at the moment. The Auroracoin 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 $0.118 and $0.131. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 30, 2024, and so far it has fallen -32.81%. 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). Auroracoin gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Auroracoin cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.102 and $0.0951. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, Auroracoin finds support just below today's level at $0.102. If this is broken, then the next support from accumulated volume will be at $0.0951 and $0.0947.

This cryptocurrency may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0008 between high and low, or 0.717%. For the last week, the cryptocurrency has had daily average volatility of 4.39%.

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

Trading Expectations (AURUSD) For The Upcoming Trading Day Of Sunday 23rd

For the upcoming trading day on Sunday, 23rd we expect Auroracoin to open at $0.113, and during the day (based on 14 day Average True Range), to move between $0.104 and $0.122, which gives a possible trading interval of +/-$0.0093 (+/-8.22%) up or down from last closing price. If Auroracoin takes out the full calculated possible swing range there will be an estimated 16.45% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.102 (10.05%) than the resistance at $0.131 (16.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Auroracoin cryptocurrency A Buy?

The Auroracoin cryptocurrency holds several negative signals and despite the positive trend, we believe Auroracoin will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.603 Sell Candidate Downgraded

Predicted Opening Price for Auroracoin of Sunday, June 23, 2024

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