Bitpanda Ecosystem Token USD Cryptocurrency Forecast

Big movements in Bitpanda Ecosystem Token USD cryptocurrency price on Friday moving 10.34% between high and low
(Updated on May 17, 2024)

BESTUSD Signals & Forecast

The Bitpanda Ecosystem Token USD cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.519 and $0.499. A breakdown below any of these levels will issue sell signals. Bitpanda Ecosystem Token USD has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen -7.49%. 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).

Support, Risk & Stop-loss for Bitpanda Ecosystem Token USD cryptocurrency

Bitpanda Ecosystem Token USD finds support from accumulated volume at $0.558 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the cryptocurrency tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the cryptocurrency moved $0.0529 between high and low, or 10.34%. For the last week the cryptocurrency has had daily average volatility of 2.07%.

The Bitpanda Ecosystem Token USD cryptocurrency is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some cryptocurrencies may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the cryptocurrency manages to break the trend before that occurs.

Our recommended stop-loss: $0.536 (-5.10%) (This cryptocurrency has low daily movements and this gives low risk. The RSI14 is 95 and this increases the risk substantially. There is a sell signal from a pivot top found 63 days ago.)

Trading Expectations (BESTUSD) For The Upcoming Trading Day Of Saturday 18th

For the upcoming trading day on Saturday, 18th we expect Bitpanda Ecosystem Token USD to open at $0.547, and during the day (based on 14 day Average True Range), to move between $0.558 and $0.571, which gives a possible trading interval of +/-$0.0066 (+/-1.17%) up or down from last closing price. If Bitpanda Ecosystem Token USD takes out the full calculated possible swing range there will be an estimated 2.35% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.558 (1.16%) than the resistance at $0.574 (1.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Bitpanda Ecosystem Token USD cryptocurrency A Buy?

Bitpanda Ecosystem Token USD holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Bitpanda Ecosystem Token USD of Saturday, May 18, 2024

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