Chain of Legends USD Cryptocurrency Forecast
Stronger technical forecast for Chain of Legends USD cryptocurrency price after Tuesday trading.
(Updated on Jun 25, 2024)
The Chain of Legends USD cryptocurrency price fell by -0.289% on the last day (Tuesday, 25th Jun 2024) from $0.0028 to $0.0028. It has now fallen 3 days in a row. During the last trading day the cryptocurrency fluctuated 2.74% from a day low at $0.0027 to a day high of $0.0028. The price has risen in 6 of the last 10 days and is up by 4.54% over the past 2 weeks. Volume fell on the last day along with the cryptocurrency, which is actually a good sign as volume should follow the cryptocurrency. On the last day, the trading volume fell by -4 thousand shares and in total, 7 thousand shares were bought and sold for approximately $19.87 .
The cryptocurrency lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to fall -30.29% during the next 3 months and, with a 90% probability hold a price between $0.0016 and $0.0028 at the end of this 3-month period.
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CLEGUSD 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 of Legends USD cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.0032 and $0.0030. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Saturday, June 22, 2024, and so far it has fallen -32.27%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this cryptocurrency may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Chain of Legends USD cryptocurrency
Chain of Legends USD finds support from accumulated volume at $0.0027 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 periodic low trading volume this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.000075 between high and low, or 2.74%. For the last week the cryptocurrency has had daily average volatility of 20.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CLEGUSD) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Chain of Legends USD to open at $0.0028, and during the day (based on 14 day Average True Range), to move between $0.0024 and $0.0031, which gives a possible trading interval of +/-$0.0004 (+/-13.56%) up or down from last closing price. If Chain of Legends USD takes out the full calculated possible swing range there will be an estimated 27.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0027 (0.62%) than the resistance at $0.0028 (0.65%), 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 of Legends USD cryptocurrency A Buy?
Chain of Legends 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. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.520 Sell Candidate Upgraded
Predicted Opening Price for Chain of Legends USD of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.0028 ( 0.253%) | $0.0028 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLEGUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0028 | 2.97% |
| R2 | 0.0028 | 1.93% |
| R1 | 0.0028 | 1.29% |
| Price | 0.0028 | |
| S1 | 0.0027 | -0.784% |
| S2 | 0.0027 | -1.42% |
| S3 | 0.0027 | -2.46% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0032 | 14.92% |
| R2 | 0.0030 | 7.20% |
| R1 | 0.0028 | 0.652% |
| Price | 0.0028 | |
| S1 | 0.0027 | -0.615% |
| S2 | 0.0027 | -2.21% |
| S3 | 0.0027 | -3.48% |
FAQ
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