Balancer / US Dollar Cryptocurrency Forecast
Balancer / US Dollar cryptocurrency price ended at $2.59 on Tuesday, after losing 1.89%.
(Updated on Jul 02, 2024)
The Balancer / US Dollar cryptocurrency price fell by -1.89% on the last day (Tuesday, 2nd Jul 2024) from $2.64 to $2.59. During the last trading day the cryptocurrency fluctuated 6.77% from a day low at $2.51 to a day high of $2.68. The price has fallen in 7 of the last 10 days and is down by -16.99% for this period. Volume fell on the last day along with the cryptocurrency, which is actually a good sign as volume should follow the cryptocurrency. On the last day, the trading volume fell by -9 million shares and in total, 15 million shares were bought and sold for approximately $38.32 million.
The cryptocurrency has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($2.77) are considered to be a "second chance" to get out. According to the fan-theory $1.81 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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BALUSD 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 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 $2.90 and $3.41. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -36.98%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Balancer / US Dollar 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 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 $0.170 between high and low, or 6.77%. For the last week, the cryptocurrency has had daily average volatility of 6.61%.
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 Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Balancer / US Dollar to open at $2.59, and during the day (based on 14 day Average True Range), to move between $2.41 and $2.77, which gives a possible trading interval of +/-$0.176 (+/-6.81%) up or down from last closing price. If Balancer / US Dollar takes out the full calculated possible swing range there will be an estimated 13.62% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $2.64, some $0.0500 (1.93%) from the current price of $2.59, our system finds the risk reward not very attractive.
Is Balancer / US Dollar cryptocurrency A Buy?
Balancer / US Dollar 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: -7.198 Strong Sell Candidate Unchanged
Predicted Opening Price for Balancer / US Dollar of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $2.59 ( 0.129%) | $2.59 |
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 | |
|---|---|---|
| R3 | 2.76 | 6.69% |
| R2 | 2.70 | 4.19% |
| R1 | 2.66 | 2.64% |
| Price | 2.59 | |
| S1 | 2.53 | -2.38% |
| S2 | 2.49 | -3.93% |
| S3 | 2.42 | -6.44% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.06 | 18.15% |
| R2 | 3.01 | 16.22% |
| R1 | 2.64 | 1.93% |
| Price | 2.59 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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