CANTO USD Cryptocurrency Forecast

CANTO USD cryptocurrency downgraded to Sell Candidate
(Updated on May 18, 2024)

CANTOUSD Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The CANTO 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 $0.154. On a fall, the cryptocurrency will find some support from the short-term average at $0.145. 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. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -61.76%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for CANTO USD cryptocurrency

CANTO USD finds support from accumulated volume at $0.151 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.0063 between high and low, or 4.22%. For the last week, the cryptocurrency has had daily average volatility of 5.04%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CANTOUSD) For The Upcoming Trading Day Of Sunday 19th

For the upcoming trading day on Sunday, 19th we expect CANTO USD to open at $0.152, and during the day (based on 14 day Average True Range), to move between $0.141 and $0.162, which gives a possible trading interval of +/-$0.0105 (+/-6.90%) up or down from last closing price. If CANTO USD takes out the full calculated possible swing range there will be an estimated 13.79% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.151 (0.59%) than the resistance at $0.160 (5.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is CANTO USD cryptocurrency A Buy?

CANTO 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: -1.961 Sell Candidate Downgraded

Predicted Opening Price for CANTO USD of Sunday, May 19, 2024

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