Binance USD Cryptocurrency Forecast
Stronger technical forecast for Binance USD cryptocurrency price after Thursday trading.
(Updated on May 02, 2024)
The Binance USD cryptocurrency price gained 0.130% on the last trading day (Thursday, 2nd May 2024), rising from $1.00 to $1.00. During the last trading day the cryptocurrency fluctuated 0.200% from a day low at $1.00 to a day high of $1.00. The price has fallen in 7 of the last 10 days and is down by -0.14% for this period. Volume fell on the last day by -7 million shares and in total, 9 million shares were bought and sold for approximately $8.81 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The cryptocurrency is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $1.00 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Binance USD cryptocurrency with a 90% probability to be traded between $1.00 and $1.02 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and cryptocurrencies seldom manage to go directly from the bottom of a trend up to the top. Cryptocurrencies turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BUSDUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 0.130%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The cryptocurrency should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Binance USD cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $1.00. On a fall, the cryptocurrency will find some support from the short-term average at $1.00. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. The cryptocurrency had a Golden Star Signal on Wednesday, February 07, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Sunday, December 10, 2023.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the cryptocurrency in question.
Golden Star
The cryptocurrency had a Golden Star Signal on Wednesday, February 07, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Sunday, December 10, 2023.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the cryptocurrency in question.
Golden Star 12 Months
The cryptocurrency had a Golden Star Signal on Wednesday, February 07, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Sunday, December 10, 2023.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the cryptocurrency in question.
Support, Risk & Stop-loss for Binance USD cryptocurrency
Binance USD finds support from accumulated volume at $1.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the cryptocurrency tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the cryptocurrency moved $0.0020 between high and low, or 0.200%. For the last week the cryptocurrency has had daily average volatility of 0.135%.
Our recommended stop-loss: $0.93 (-6.82%) (This cryptocurrency has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (BUSDUSD) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Binance USD to open at $1.00, and during the day (based on 14 day Average True Range), to move between $1.00 and $1.00, which gives a possible trading interval of +/-$0.0021 (+/-0.21%) up or down from last closing price. If Binance USD takes out the full calculated possible swing range there will be an estimated 0.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.00 (0.03%) than the resistance at $1.01 (0.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Binance USD cryptocurrency A Buy?
Binance 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: 0.470 Hold/Accumulate Upgraded
Predicted Opening Price for Binance USD of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $1.00 ( 0.0453%) | $1.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BUSDUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.00 | 0.155 % | |
| R2 | 1.00 | 0.0782 % | ||
| R1 | 1.00 | 0.0311 % | ||
| Current price: | 1.00 | |||
| Support | S1 | 1.00 | -0.122 % | |
| S2 | 1.00 | -0.169 % | ||
| S3 | 1.00 | -0.245 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.02 | 1.58 % | |
| R2 | 1.01 | 0.96 % | ||
| R1 | 1.01 | 0.759 % | ||
| Current price | 1.00 | |||
| Support | S1 | 1.00 | -0.0340% | |
| S2 | 1.00 | -0.0360% | ||
| S3 | 1.00 | -0.0960% |
FAQ
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