BABB / US Dollar Cryptocurrency Forecast
Red day on Saturday for BABB / US Dollar cryptocurrency after losing 0%
(Updated on Jun 01, 2024)
No changes to the price of BABB / US Dollar cryptocurrency on the last trading day (Saturday, 1st Jun 2024). During the last trading day the cryptocurrency fluctuated 6.32% from a day low at $0.000095 to a day high of $0.0001. The price has fallen in 5 of the last 10 days and is down by -12.73% for this period.
The cryptocurrency lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to fall -47.75% during the next 3 months and, with a 90% probability hold a price between $0.00003460 and $0.00007447 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BAXUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 31, 2024, and so far it has fallen 0%. 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 BABB / 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 $0.0001 and $0.0001. 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 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 BABB / 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 has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the cryptocurrency moved $0.000006 between high and low, or 6.32%. For the last week the cryptocurrency has had daily average volatility of 6.60%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BAXUSD) For The Upcoming Trading Day Of Sunday 2nd
For the upcoming trading day on Sunday, 2nd we expect BABB / US Dollar to open at $0.00009733, and during the day (based on 14 day Average True Range), to move between $0.00009025 and $0.0001, which gives a possible trading interval of +/-$0.00000575 (+/-5.99%) up or down from last closing price. If BABB / US Dollar takes out the full calculated possible swing range there will be an estimated 11.98% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.0001, some $0.000009 (9.38%) from the current price of $0.000096, our system finds the risk reward not very attractive.
Is BABB / US Dollar cryptocurrency A Buy?
BABB / 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: -4.240 Sell Candidate Unchanged
Predicted Opening Price for BABB / US Dollar of Sunday, June 2, 2024
| Fair opening price June 2, 2024 | Current price |
|---|---|
| $0.00009733 ( 1.39%) | $0.000096 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BAXUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0001 | 7.64 % | |
| R2 | 0.0001 | 5.25 % | ||
| R1 | 0.00009963 | 3.78 % | ||
| Current price: | 0.000096 | |||
| Support | S1 | 0.00009504 | -1.00 % | |
| S2 | 0.00009363 | -2.47 % | ||
| S3 | 0.00009133 | -4.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0001 | 16.67 % | |
| R2 | 0.0001 | 15.63 % | ||
| R1 | 0.0001 | 9.38 % | ||
| Current price | 0.000096 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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