BlackCoin Cryptocurrency Forecast

Red day on Tuesday for BlackCoin
(Updated on May 07, 2024)

BLKUSD Signals & Forecast

The BlackCoin 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 $0.0215 and $0.0209. 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 Wednesday, March 13, 2024, and so far it has fallen -11.34%. Further fall is indicated until a new bottom pivot has been found. BlackCoin 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 BlackCoin cryptocurrency

BlackCoin finds support from accumulated volume at $0.0218 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 $0.0011 between high and low, or 4.98%. For the last week, the cryptocurrency has had daily average volatility of 6.75%.

Our recommended stop-loss: $0.0210 (-5.02%) (This cryptocurrency has high daily movements and this gives high risk. There is a sell signal from a pivot top found 55 days ago.)

Trading Expectations (BLKUSD) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect BlackCoin to open at $0.0220, and during the day (based on 14 day Average True Range), to move between $0.0204 and $0.0238, which gives a possible trading interval of +/-$0.0017 (+/-7.51%) up or down from last closing price. If BlackCoin takes out the full calculated possible swing range there will be an estimated 15.02% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0224 (1.27%) than the support at $0.0218 (1.35%), 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 BlackCoin 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 BlackCoin cryptocurrency to perform well in the short-term.

Current score: 2.835 Buy Candidate Unchanged

Predicted Opening Price for BlackCoin of Wednesday, May 8, 2024

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