Compound Dai / US Dollar Cryptocurrency Forecast
Compound Dai / US Dollar cryptocurrency price down 0.0435% on Monday
(Updated on May 20, 2024)
The Compound Dai / US Dollar cryptocurrency price fell by -0.0435% on the last day (Monday, 20th May 2024) from $0.0230 to $0.0230. During the last trading day the cryptocurrency fluctuated 0.0435% from a day low at $0.0230 to a day high of $0.0230. The price has fallen in 4 of the last 10 days and is down by -0.09% for this period. Volume has increased on the last day by 466 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, 550 shares were bought and sold for approximately $12.65 .
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 $0.0230 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Compound Dai / US Dollar cryptocurrency with a 90% probability to be traded between $0.0233 and $0.0234 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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CDAIUSD Signals & Forecast
There are few to no technical positive signals at the moment. The Compound Dai / 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 $0.0230 and $0.0230. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 16, 2024, and so far it has fallen -0.117%. 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). Compound Dai / 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 Compound Dai / US Dollar cryptocurrency
Compound Dai / US Dollar finds support from accumulated volume at $0.0230 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 $0.00001 between high and low, or 0.0435%. For the last week the cryptocurrency has had daily average volatility of 0.0452%.
Our recommended stop-loss: $0.0221 (-3.82%) (This cryptocurrency has low daily movements and this gives low risk. There is a sell signal from a pivot top found 76 days ago.)
Trading Expectations (CDAIUSD) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Compound Dai / US Dollar to open at $0.0230, and during the day (based on 14 day Average True Range), to move between $0.0230 and $0.0230, which gives a possible trading interval of +/-$0.00001145 (+/-0.05%) up or down from last closing price. If Compound Dai / US Dollar takes out the full calculated possible swing range there will be an estimated 0.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0230 (0.05%) than the support at $0.0230 (0.06%), 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 Compound Dai / US Dollar cryptocurrency A Buy?
Compound Dai / US Dollar holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.783 Hold/Accumulate Unchanged
Predicted Opening Price for Compound Dai / US Dollar of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $0.0230 ( 0.0145%) | $0.0230 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CDAIUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0230 | 0.0580 % | |
| R2 | 0.0230 | 0.0414 % | ||
| R1 | 0.0230 | 0.0311 % | ||
| Current price: | 0.0230 | |||
| Support | S1 | 0.0230 | -0.0021 % | |
| S2 | 0.0230 | -0.0124 % | ||
| S3 | 0.0230 | -0.0290 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0230 | 0.0956 % | |
| R2 | 0.0230 | 0.0652 % | ||
| R1 | 0.0230 | 0.0522 % | ||
| Current price | 0.0230 | |||
| Support | S1 | 0.0230 | -0.0565% | |
| S2 | 0.0229 | -0.552% | ||
| S3 | 0.0228 | -0.730% |
FAQ
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