Nervos Network / US Dollar Cryptocurrency Forecast

Red day on Friday for Nervos Network / US Dollar
(Updated on May 03, 2024)

CKBUSD Signals & Forecast

There are few to no technical positive signals at the moment. The Nervos Network / 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 $0.0169 and $0.0213. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -51.89%. 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). Nervos Network / 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".

Support, Risk & Stop-loss for Nervos Network / US Dollar cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0146 and $0.0135. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, Nervos Network / US Dollar finds support just below today's level at $0.0146. If this is broken, then the next support from accumulated volume will be at $0.0135 and $0.0118.

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 $0.0011 between high and low, or 7.23%. For the last week, the cryptocurrency has had daily average volatility of 14.53%.

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

Trading Expectations (CKBUSD) For The Upcoming Trading Day Of Saturday 4th

For the upcoming trading day on Saturday, 4th we expect Nervos Network / US Dollar to open at $0.0156, and during the day (based on 14 day Average True Range), to move between $0.0125 and $0.0186, which gives a possible trading interval of +/-$0.0030 (+/-19.53%) up or down from last closing price. If Nervos Network / US Dollar takes out the full calculated possible swing range there will be an estimated 39.06% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0158 (1.59%) than the support at $0.0146 (6.14%), 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 Nervos Network / US Dollar cryptocurrency A Buy?

The Nervos Network / US Dollar cryptocurrency holds several negative signals and despite the positive trend, we believe Nervos Network / US Dollar will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency.

Current score: -1.884 Sell Candidate Unchanged

Predicted Opening Price for Nervos Network / US Dollar of Saturday, May 4, 2024

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