Balancer / US Dollar Cryptocurrency Forecast
Weaker technical forecast for Balancer / US Dollar as cryptocurrency downgraded to Sell Candidate.
(Updated on Apr 24, 2024)
The Balancer / US Dollar cryptocurrency price fell by -4.94% on the last day (Wednesday, 24th Apr 2024) from $4.05 to $3.85. During the last trading day the cryptocurrency fluctuated 7.27% from a day low at $3.85 to a day high of $4.13. The price has risen in 5 of the last 10 days and is up by 0.26% over the past 2 weeks. Volume has increased on the last day by 7 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, 8 million shares were bought and sold for approximately $31.89 million.
The cryptocurrency has broken the very wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $3.88. A reaction back to this level may hold a second chance to get out before further falls.
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BALUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.785%. 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 Balancer / US 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 $3.93 and $4.56. 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 Balancer / US Dollar cryptocurrency
Balancer / US Dollar finds support from accumulated volume at $3.84 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 $0.280 between high and low, or 7.27%. For the last week, the cryptocurrency has had daily average volatility of 5.51%.
Balancer / US Dollar 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 (BALUSD) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Balancer / US Dollar to open at $3.94, and during the day (based on 14 day Average True Range), to move between $3.50 and $4.20, which gives a possible trading interval of +/-$0.351 (+/-9.12%) up or down from last closing price. If Balancer / US Dollar takes out the full calculated possible swing range there will be an estimated 18.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.84 (0.26%) than the resistance at $4.66 (21.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Balancer / US Dollar cryptocurrency A Buy?
The Balancer / US Dollar cryptocurrency holds several negative signals and despite the positive trend, we believe Balancer / US Dollar 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: -3.853 Sell Candidate Downgraded
Predicted Opening Price for Balancer / US Dollar of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $3.94 ( 2.42%) | $3.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BALUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.22 | 9.70 % | |
| R2 | 4.12 | 6.92 % | ||
| R1 | 4.05 | 5.20 % | ||
| Current price: | 3.85 | |||
| Support | S1 | 3.84 | -0.354 % | |
| S2 | 3.77 | -2.07 % | ||
| S3 | 3.66 | -4.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.68 | 21.56 % | |
| R2 | 4.67 | 21.30 % | ||
| R1 | 4.66 | 21.03 % | ||
| Current price | 3.85 | |||
| Support | S1 | 3.84 | -0.260% | |
| S2 | 3.82 | -0.779% | ||
| S3 | 3.63 | -5.71% |
FAQ
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