BOSagora USD Cryptocurrency Forecast
Volatile ride for BOSagora USD cryptocurrency price on Friday moving between $0.0207 and $0.0266
(Updated on May 31, 2024)
The BOSagora USD cryptocurrency price fell by -37.38% on the last day (Friday, 31st May 2024) from $0.0346 to $0.0217. During the last trading day the cryptocurrency fluctuated 28.88% from a day low at $0.0207 to a day high of $0.0266. The price has fallen in 5 of the last 10 days but is still up by 14.72% 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 -51 million shares and in total, 12 million shares were bought and sold for approximately $258.39 thousand.
The cryptocurrency lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to fall -17.30% during the next 3 months and, with a 90% probability hold a price between $0.0107 and $0.0344 at the end of this 3-month period.
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BOAUSD Signals & Forecast
The BOSagora USD 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 $0.0248. On a fall, the cryptocurrency will find some support from the long-term average at approximately $0.0189. 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. 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, May 29, 2024, and so far it has fallen -48.12%. 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.
Support, Risk & Stop-loss for BOSagora USD cryptocurrency
BOSagora USD finds support from accumulated volume at $0.0214 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 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 $0.0060 between high and low, or 28.88%. For the last week the cryptocurrency has had daily average volatility of 51.38%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BOAUSD) For The Upcoming Trading Day Of Saturday 1st
For the upcoming trading day on Saturday, 1st we expect BOSagora USD to open at $0.0230, and during the day (based on 14 day Average True Range), to move between $0.0170 and $0.0263, which gives a possible trading interval of +/-$0.0046 (+/-21.43%) up or down from last closing price. If BOSagora USD takes out the full calculated possible swing range there will be an estimated 42.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0214 (1.29%) than the resistance at $0.0240 (10.80%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BOSagora USD cryptocurrency A Buy?
BOSagora USD holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.094 Sell Candidate Downgraded
Predicted Opening Price for BOSagora USD of Saturday, June 1, 2024
| Fair opening price June 1, 2024 | Current price |
|---|---|
| $0.0230 ( 6.06%) | $0.0217 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BOAUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0290 | 33.58 % | |
| R2 | 0.0267 | 23.07 % | ||
| R1 | 0.0253 | 16.57 % | ||
| Current price: | 0.0217 | |||
| Support | S1 | 0.0207 | -4.46 % | |
| S2 | 0.0193 | -10.95 % | ||
| S3 | 0.0170 | -21.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0253 | 16.60 % | |
| R2 | 0.0248 | 14.25 % | ||
| R1 | 0.0240 | 10.80 % | ||
| Current price | 0.0217 | |||
| Support | S1 | 0.0214 | -1.29% | |
| S2 | 0.0204 | -5.87% | ||
| S3 | 0.0179 | -17.35% |
FAQ
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