Boring Protocol USD Cryptocurrency Forecast

High volatility in Boring Protocol USD cryptocurrency price on Monday which ended trading at $0.0010
(Updated on May 20, 2024)

BOPUSD Signals & Forecast

The Boring Protocol USD cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the cryptocurrency has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0009 and $0.0010. A breakdown below any of these levels will issue sell signals. Boring Protocol 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 Thursday, April 11, 2024, and so far it has fallen -41.98%. 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 Boring Protocol USD cryptocurrency

Boring Protocol USD finds support from accumulated volume at $0.0010 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 a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0001 between high and low, or 15.50%. For the last week, the cryptocurrency has had daily average volatility of 6.46%.

Our recommended stop-loss: $0.0009 (-6.32%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 84 days ago.)

Trading Expectations (BOPUSD) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Boring Protocol USD to open at $0.0010, and during the day (based on 14 day Average True Range), to move between $0.0009 and $0.0011, which gives a possible trading interval of +/-$0.0001 (+/-10.99%) up or down from last closing price. If Boring Protocol USD takes out the full calculated possible swing range there will be an estimated 21.97% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0010 (1.91%) than the resistance at $0.0012 (18.99%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Boring Protocol 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 Boring Protocol USD cryptocurrency to perform well in the short-term. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Buy candidate.

Current score: 2.567 Buy Candidate Upgraded

Predicted Opening Price for Boring Protocol USD of Tuesday, May 21, 2024

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