Cat Token / US Dollar Cryptocurrency Forecast
Red day on Friday for Cat Token / US Dollar cryptocurrency after losing 0.735%
(Updated on Jun 28, 2024)
The Cat Token / US Dollar cryptocurrency price fell by -0.735% on the last day (Friday, 28th Jun 2024) from $0.0643 to $0.0639. During the last trading day the cryptocurrency fluctuated 0.669% from a day low at $0.0639 to a day high of $0.0643. The price has risen in 4 of the last 10 days but is still down by -16.21% for this period. Volume has increased on the last day by 1 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 thousand shares were bought and sold for approximately $77.35 .
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0595 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -46.11% during the next 3 months and, with a 90% probability hold a price between $0.0321 and $0.0524 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CATUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 1.14%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cat Token / US Dollar cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0648 and $0.0843. A break-up above any of these levels will issue buy signals. Cat Token / US Dollar gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Cat Token / US Dollar cryptocurrency
Cat Token / US Dollar finds support from accumulated volume at $0.0632 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0004 between high and low, or 0.669%. For the last week, the cryptocurrency has had daily average volatility of 1.62%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CATUSD) For The Upcoming Trading Day Of Saturday 29th
For the upcoming trading day on Saturday, 29th we expect Cat Token / US Dollar to open at $0.0640, and during the day (based on 14 day Average True Range), to move between $0.0599 and $0.0679, which gives a possible trading interval of +/-$0.0040 (+/-6.25%) up or down from last closing price. If Cat Token / US Dollar takes out the full calculated possible swing range there will be an estimated 12.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0632 (1.13%) than the resistance at $0.0671 (5.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cat Token / US Dollar cryptocurrency A Buy?
Cat Token / US Dollar holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this cryptocurrency.
Current score: -3.938 Sell Candidate Unchanged
Predicted Opening Price for Cat Token / US Dollar of Saturday, June 29, 2024
| Fair opening price June 29, 2024 | Current price |
|---|---|
| $0.0640 ( 0.223%) | $0.0639 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CATUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0644 | 0.89% |
| R2 | 0.0643 | 0.636% |
| R1 | 0.0642 | 0.478% |
| Price | 0.0639 | |
| S1 | 0.0639 | -0.0325% |
| S2 | 0.0637 | -0.190% |
| S3 | 0.0636 | -0.446% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0762 | 19.34% |
| R2 | 0.0753 | 17.91% |
| R1 | 0.0671 | 5.00% |
| Price | 0.0639 | |
| S1 | 0.0632 | -1.13% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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