Balancer / US Dollar Cryptocurrency Forecast
Red day on Friday for Balancer / US Dollar
(Updated on May 03, 2024)
The Balancer / US Dollar cryptocurrency price fell by -0.196% on the last day (Friday, 3rd May 2024) from $3.57 to $3.56. During the last trading day the cryptocurrency fluctuated 4.59% from a day low at $3.42 to a day high of $3.58. The price has been going up and down for this period, and there has been a -12.02% loss for the last 2 weeks. 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 -8 million shares and in total, 659 thousand shares were bought and sold for approximately $2.35 million.
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.43 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -5.16% during the next 3 months and, with a 90% probability hold a price between $3.25 and $5.53 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BALUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. 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 $3.69 and $4.24. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 3.64%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Balancer / US Dollar cryptocurrency
Balancer / US Dollar finds support from accumulated volume at $3.44 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.157 between high and low, or 4.59%. For the last week, the cryptocurrency has had daily average volatility of 6.40%.
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 Saturday 4th
For the upcoming trading day on Saturday, 4th we expect Balancer / US Dollar to open at $3.52, and during the day (based on 14 day Average True Range), to move between $3.27 and $3.86, which gives a possible trading interval of +/-$0.295 (+/-8.28%) up or down from last closing price. If Balancer / US Dollar takes out the full calculated possible swing range there will be an estimated 16.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.44 (3.45%) than the resistance at $3.84 (7.77%), 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?
Balancer / US Dollar holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency.
Current score: -2.459 Sell Candidate Unchanged
Predicted Opening Price for Balancer / US Dollar of Saturday, May 4, 2024
| Fair opening price May 4, 2024 | Current price |
|---|---|
| $3.52 ( 1.23%) | $3.56 |
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 | 3.68 | 3.18 % | |
| R2 | 3.62 | 1.50 % | ||
| R1 | 3.58 | 0.458 % | ||
| Current price: | 3.56 | |||
| Support | S1 | 3.46 | -2.91 % | |
| S2 | 3.42 | -3.95 % | ||
| S3 | 3.36 | -5.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.17 | 17.04 % | |
| R2 | 3.97 | 11.42 % | ||
| R1 | 3.84 | 7.77 % | ||
| Current price | 3.56 | |||
| Support | S1 | 3.44 | -3.45% | |
| S2 | 3.44 | -3.51% | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy Balancer / US Dollar Cryptocurrency.
