CloakCoin Cryptocurrency Forecast

Volatile ride for CloakCoin cryptocurrency price on Saturday moving between $0.0842 and $0.114
(Updated on Jun 22, 2024)

CLOAKUSD Signals & Forecast

There are mixed signals in the cryptocurrency today. The CloakCoin cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $0.130. On a fall, the cryptocurrency will find some support from the short-term average at $0.114. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -43.57%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for CloakCoin cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.107 and $0.106. 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, CloakCoin finds support just below today's level at $0.107. If this is broken, then the next support from accumulated volume will be at $0.106 and $0.0863.

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 $0.0296 between high and low, or 35.12%. For the last week the cryptocurrency has had daily average volatility of 22.87%.

Our recommended stop-loss: $0.108 (-5.40%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 24 days ago.)

Trading Expectations (CLOAKUSD) For The Upcoming Trading Day Of Sunday 23rd

For the upcoming trading day on Sunday, 23rd we expect CloakCoin to open at $0.104, and during the day (based on 14 day Average True Range), to move between $0.0877 and $0.140, which gives a possible trading interval of +/-$0.0261 (+/-22.96%) up or down from last closing price. If CloakCoin takes out the full calculated possible swing range there will be an estimated 45.92% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.118 (4.05%) than the support at $0.107 (6.36%), 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 CloakCoin cryptocurrency A Buy?

CloakCoin holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.522 Hold/Accumulate Unchanged

Predicted Opening Price for CloakCoin of Sunday, June 23, 2024

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