Bata USD Cryptocurrency Forecast

Bata USD cryptocurrency price ended at $0.242 on Tuesday, after losing 2.25%.
(Updated on Jul 02, 2024)

BTAUSD Signals & Forecast

The Bata USD 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 $0.241 and $0.240. A breakdown below any of these levels will issue sell signals. 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, June 12, 2024, and so far it has fallen -8.26%. 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 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. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Bata USD cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.219 and $0.218. 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, Bata USD finds support just below today's level at $0.219. If this is broken, then the next support from accumulated volume will be at $0.218 and $0.212.

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 $0.0055 between high and low, or 2.27%. For the last week the cryptocurrency has had daily average volatility of 2.20%.

Our recommended stop-loss: $0.227 (-6.18%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 62 days ago.)

Trading Expectations (BTAUSD) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Bata USD to open at $0.243, and during the day (based on 14 day Average True Range), to move between $0.235 and $0.249, which gives a possible trading interval of +/-$0.0070 (+/-2.88%) up or down from last closing price. If Bata USD takes out the full calculated possible swing range there will be an estimated 5.75% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.261 (7.74%) than the support at $0.219 (9.40%), 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 Bata 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 Bata USD cryptocurrency to perform well in the short-term.

Current score: 1.365 Buy Candidate Unchanged

Predicted Opening Price for Bata USD of Wednesday, July 3, 2024

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