B.Protocol USD Cryptocurrency Forecast
On Friday, B.Protocol USD cryptocurrency price gained an impressive 6.24%
(Updated on May 17, 2024)
The B.Protocol USD cryptocurrency price gained 6.24% on the last trading day (Friday, 17th May 2024), rising from $0.570 to $0.605. During the last trading day the cryptocurrency fluctuated 5.64% from a day low at $0.574 to a day high of $0.607. The price has been going up and down for this period, and there has been a 6.86% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately $1.12 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 -9.82% during the next 3 months and, with a 90% probability hold a price between $0.444 and $0.670 at the end of this 3-month period.
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BPROUSD Signals & Forecast
The B.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 $0.572 and $0.596. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has risen 11.03%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). B.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.
A sell signal from a double top formation was found on Saturday, March 16, 2024 with a target of $0.768. Despite whether the objective of the signal formation has been reached the cryptocurrency may continue to fall.
Support, Risk & Stop-loss for B.Protocol USD cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.571 and $0.567. 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, B.Protocol USD finds support just below today's level at $0.571. If this is broken, then the next support from accumulated volume will be at $0.567 and $0.559.
This cryptocurrency has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.0324 between high and low, or 5.64%. For the last week, the cryptocurrency has had daily average volatility of 2.48%.
Our recommended stop-loss: $0.584 (-3.58%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (BPROUSD) For The Upcoming Trading Day Of Saturday 18th
For the upcoming trading day on Saturday, 18th we expect B.Protocol USD to open at $0.595, and during the day (based on 14 day Average True Range), to move between $0.593 and $0.618, which gives a possible trading interval of +/-$0.0125 (+/-2.07%) up or down from last closing price. If B.Protocol USD takes out the full calculated possible swing range there will be an estimated 4.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.571 (5.59%) than the resistance at $0.659 (8.93%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is B.Protocol USD cryptocurrency A Buy?
B.Protocol USD holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for B.Protocol USD of Saturday, May 18, 2024
| Fair opening price May 18, 2024 | Current price |
|---|---|
| $0.595 ( 1.64%) | $0.605 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BPROUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.628 | 3.71 % | |
| R2 | 0.615 | 1.67 % | ||
| R1 | 0.608 | 0.407 % | ||
| Current price: | 0.605 | |||
| Support | S1 | 0.583 | -3.68 % | |
| S2 | 0.575 | -4.94 % | ||
| S3 | 0.563 | -6.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.736 | 21.65 % | |
| R2 | 0.718 | 18.67 % | ||
| R1 | 0.659 | 8.93 % | ||
| Current price | 0.605 | |||
| Support | S1 | 0.571 | -5.59% | |
| S2 | 0.567 | -6.34% | ||
| S3 | 0.559 | -7.60% |
FAQ
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