Banana.finance USD Cryptocurrency Forecast

Stronger technical forecast for Banana.finance USD cryptocurrency price after Thursday trading.
(Updated on May 16, 2024)

BANANAUSD Signals & Forecast

There are few to no technical positive signals at the moment. The Banana.finance USD 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 $1.02 and $1.28. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen 0%. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Banana.finance USD cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.94. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the cryptocurrency price.

In general the cryptocurrency tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the cryptocurrency During the last day, the cryptocurrency moved $0 between high and low, or 0%. For the last week the cryptocurrency has had daily average volatility of 5.59%

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

Trading Expectations (BANANAUSD) For The Upcoming Trading Day Of Friday 17th

For the upcoming trading day on Friday, 17th we expect Banana.finance USD to open at $1.01, and during the day (based on 14 day Average True Range), to move between $0.91 and $1.11, which gives a possible trading interval of +/-$0.0979 (+/-9.71%) up or down from last closing price. If Banana.finance USD takes out the full calculated possible swing range there will be an estimated 19.43% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $1.04 (3.47%) than the support at $0.94 (6.99%), 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 Banana.finance USD cryptocurrency A Buy?

Banana.finance USD 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. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -4.048 Sell Candidate Upgraded

Predicted Opening Price for Banana.finance USD of Friday, May 17, 2024

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