Blocknet Cryptocurrency Forecast

Blocknet cryptocurrency price ended at $0.0359 on Saturday, after gaining 0.0809%.
(Updated on Jun 01, 2024)

BLOCKUSD Signals & Forecast

A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -3.62%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Blocknet cryptocurrency holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the cryptocurrency giving a positive forecast for the stock. On further gains, the cryptocurrency will meet resistance from the short-term Moving Average at approximately $0.0362. On a fall, the cryptocurrency will find some support from the long-term average at approximately $0.0339. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal.

Support, Risk & Stop-loss for Blocknet cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0284 and $0.0280. 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, Blocknet finds support just below today's level at $0.0284. If this is broken, then the next support from accumulated volume will be at $0.0280 and $0.0279.

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 $0.0002 between high and low, or 0.546%. For the last week the cryptocurrency has had daily average volatility of 2.61%.

Our recommended stop-loss: $0.0343 (-4.26%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 31 days ago.)

Trading Expectations (BLOCKUSD) For The Upcoming Trading Day Of Sunday 2nd

For the upcoming trading day on Sunday, 2nd we expect Blocknet to open at $0.0358, and during the day (based on 14 day Average True Range), to move between $0.0346 and $0.0371, which gives a possible trading interval of +/-$0.0013 (+/-3.52%) up or down from last closing price. If Blocknet takes out the full calculated possible swing range there will be an estimated 7.05% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0389 (8.34%) than the support at $0.0284 (20.72%), 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 Blocknet cryptocurrency A Buy?

The cryptocurrency is within a very wide and falling trend and holds several negative signals that may affect the cryptocurrency in the short-term. However, we believe that today's you should hold a possible buying opportunity and expect the price to be higher at the end of the 3-month period. The careful investor would await further signals.

Current score: 1.131 Buy Candidate Unchanged

Predicted Opening Price for Blocknet of Sunday, June 2, 2024

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