Chain Games USD Cryptocurrency Forecast
High volatility in Chain Games USD cryptocurrency price on Friday which ended trading at $0.0167
(Updated on May 03, 2024)
The Chain Games USD cryptocurrency price fell by -3.02% on the last day (Friday, 3rd May 2024) from $0.0172 to $0.0167. During the last trading day the cryptocurrency fluctuated 10.86% from a day low at $0.0162 to a day high of $0.0179. The price has fallen in 6 of the last 10 days and is down by -29.87% for this period. Volume has increased on the last day by 15 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, 32 thousand shares were bought and sold for approximately $538.60 .
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 $0.0138 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -4.85% during the next 3 months and, with a 90% probability hold a price between $0.0132 and $0.0271 at the end of this 3-month period.
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CHAINUSD Signals & Forecast
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 Chain Games USD 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 $0.0178 and $0.0184. 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 23, 2024, and so far it has fallen -29.87%. Further fall is indicated until a new bottom pivot has been found. Chain Games USD 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 Chain Games USD cryptocurrency
Chain Games USD finds support from accumulated volume at $0.0166 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0018 between high and low, or 10.86%. For the last week, the cryptocurrency has had daily average volatility of 7.21%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CHAINUSD) For The Upcoming Trading Day Of Saturday 4th
For the upcoming trading day on Saturday, 4th we expect Chain Games USD to open at $0.0169, and during the day (based on 14 day Average True Range), to move between $0.0147 and $0.0187, which gives a possible trading interval of +/-$0.0020 (+/-11.87%) up or down from last closing price. If Chain Games USD takes out the full calculated possible swing range there will be an estimated 23.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0166 (0.80%) than the resistance at $0.0173 (3.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chain Games USD cryptocurrency A Buy?
Chain Games USD 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: -3.994 Sell Candidate Unchanged
Predicted Opening Price for Chain Games USD of Saturday, May 4, 2024
| Fair opening price May 4, 2024 | Current price |
|---|---|
| $0.0169 ( 1.34%) | $0.0167 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHAINUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0187 | 11.85 % | |
| R2 | 0.0180 | 7.83 % | ||
| R1 | 0.0176 | 5.35 % | ||
| Current price: | 0.0167 | |||
| Support | S1 | 0.0163 | -2.68 % | |
| S2 | 0.0159 | -5.16 % | ||
| S3 | 0.0152 | -9.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0200 | 19.67 % | |
| R2 | 0.0175 | 4.65 % | ||
| R1 | 0.0173 | 3.71 % | ||
| Current price | 0.0167 | |||
| Support | S1 | 0.0166 | -0.80% | |
| S2 | 0.0151 | -9.54% | ||
| S3 | 0.0149 | -10.69% |
FAQ
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