Bitpanda Ecosystem Token USD Cryptocurrency Forecast
Is Bitpanda Ecosystem Token USD cryptocurrency still a buy after falling -8.87% on Friday?
(Updated on May 31, 2024)
The Bitpanda Ecosystem Token USD cryptocurrency price fell by -8.87% on the last day (Friday, 31st May 2024) from $0.84 to $0.768. During the last trading day the cryptocurrency fluctuated 0% from a day low at $0.768 to a day high of $0.768. The price has risen in 4 of the last 10 days and is up by 33.18% over the past 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 -159 shares and in total, 161 shares were bought and sold for approximately $123.72 .
The cryptocurrency lies in the upper part of a very wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $0.84 will firstly indicate a stronger rate of rising. Given the current short-term trend, the cryptocurrency is expected to rise 9.39% during the next 3 months and, with a 90% probability hold a price between $0.379 and $0.92 at the end of this 3-month period.
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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 $0.692 and $0.560. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Thursday, May 30, 2024, and so far it has fallen -8.87%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this cryptocurrency may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Bitpanda Ecosystem Token USD cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.610 and $0.595. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, Bitpanda Ecosystem Token USD finds support just below today's level at $0.610. If this is broken, then the next support from accumulated volume will be at $0.595 and $0.577.
This cryptocurrency may move very much during the day (volatility) and with periodic low trading volume this cryptocurrency is considered to be "very high risk". 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 24.83%.
Our recommended stop-loss: $0.727 (-5.44%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (BESTUSD) For The Upcoming Trading Day Of Saturday 1st
For the upcoming trading day on Saturday, 1st we expect Bitpanda Ecosystem Token USD to open at $0.768, and during the day (based on 14 day Average True Range), to move between $0.730 and $0.81, which gives a possible trading interval of +/-$0.0380 (+/-4.94%) 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 9.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.84 (9.73%) than the support at $0.610 (20.57%), 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 Bitpanda Ecosystem Token USD cryptocurrency A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Bitpanda Ecosystem Token USD cryptocurrency to perform well in the short-term.
Current score: 2.799 Buy Candidate Unchanged
Predicted Opening Price for Bitpanda Ecosystem Token USD of Saturday, June 1, 2024
Fair opening price June 1, 2024 | Current price |
---|---|
$0.768 ( 0%) | $0.768 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BESTUSD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.768 | . | |
R2 | 0.768 | . | ||
R1 | 0.768 | . | ||
Current price: | 0.768 | |||
Support | S1 | 0.768 | . | |
S2 | 0.768 | . | ||
S3 | 0.768 | . |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0.84 | 9.73 % | ||
Current price | 0.768 | |||
Support | S1 | 0.610 | -20.57% | |
S2 | 0.595 | -22.54% | ||
S3 | 0.577 | -24.86% |
FAQ
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