Toucan Protocol: Base Carbon Tonne USD Cryptocurrency Forecast

Toucan Protocol: Base Carbon Tonne USD cryptocurrency price ended at $0.608 on Sunday, after losing 2.97%.
(Updated on May 19, 2024)

BCTUSD Signals & Forecast

There are few to no technical positive signals at the moment. The Toucan Protocol: Base Carbon Tonne 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 $0.638 and $0.662. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -58.35%. 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). Toucan Protocol: Base Carbon Tonne USD gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Toucan Protocol: Base Carbon Tonne USD cryptocurrency

Toucan Protocol: Base Carbon Tonne USD finds support from accumulated volume at $0.584 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 $0.0320 between high and low, or 5.27%. For the last week, the cryptocurrency has had daily average volatility of 3.54%.

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

Trading Expectations (BCTUSD) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Toucan Protocol: Base Carbon Tonne USD to open at $0.619, and during the day (based on 14 day Average True Range), to move between $0.560 and $0.657, which gives a possible trading interval of +/-$0.0483 (+/-7.94%) up or down from last closing price. If Toucan Protocol: Base Carbon Tonne USD takes out the full calculated possible swing range there will be an estimated 15.89% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.584 (3.91%) than the resistance at $0.649 (6.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Toucan Protocol: Base Carbon Tonne USD cryptocurrency A Buy?

The Toucan Protocol: Base Carbon Tonne USD cryptocurrency holds several negative signals and despite the positive trend, we believe Toucan Protocol: Base Carbon Tonne USD will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency.

Current score: -3.515 Sell Candidate Unchanged

Predicted Opening Price for Toucan Protocol: Base Carbon Tonne USD of Monday, May 20, 2024

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