Auroracoin Cryptocurrency Forecast

High volatility in Auroracoin cryptocurrency price on Tuesday which ended trading at $0.104
(Updated on Jul 02, 2024)

AURUSD Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $0.124 and $0.129. 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 -37.93%. Further fall is indicated until a new bottom pivot has been found. 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

Auroracoin finds support from accumulated volume at $0.102 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 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 $0.0193 between high and low, or 18.51%. For the last week, the cryptocurrency has had daily average volatility of 17.61%.

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 Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Auroracoin to open at $0.111, and during the day (based on 14 day Average True Range), to move between $0.0895 and $0.119, which gives a possible trading interval of +/-$0.0150 (+/-14.31%) up or down from last closing price. If Auroracoin takes out the full calculated possible swing range there will be an estimated 28.63% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.106 (1.78%) than the support at $0.102 (2.62%), 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 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 Buy to a Sell candidate.

Current score: -3.250 Sell Candidate Downgraded

Predicted Opening Price for Auroracoin of Wednesday, July 3, 2024

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