CloakCoin Cryptocurrency Forecast
CloakCoin cryptocurrency price ended at $0.0844 on Wednesday, after losing 3.69%.
(Updated on Jun 26, 2024)
The CloakCoin cryptocurrency price fell by -3.69% on the last day (Wednesday, 26th Jun 2024) from $0.0876 to $0.0844. During the last trading day the cryptocurrency fluctuated 4.78% from a day low at $0.0844 to a day high of $0.0884. The price has fallen in 6 of the last 10 days and is down by -32.07% for this period.
The cryptocurrency lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0620 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 3.94% during the next 3 months and, with a 90% probability hold a price between $0.0644 and $0.212 at the end of this 3-month period.
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CLOAKUSD 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 CloakCoin 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 $0.0935 and $0.122. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 25, 2024, and so far it has fallen -3.69%. 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 CloakCoin cryptocurrency
CloakCoin finds support from accumulated volume at $0.0842 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the cryptocurrency During the last day, the cryptocurrency moved $0.0040 between high and low, or 4.78%. For the last week the cryptocurrency has had daily average volatility of 22.39%
Our recommended stop-loss: $0.0798 (-5.38%) (This cryptocurrency has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (CLOAKUSD) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect CloakCoin to open at $0.0857, and during the day (based on 14 day Average True Range), to move between $0.0615 and $0.107, which gives a possible trading interval of +/-$0.0229 (+/-27.11%) up or down from last closing price. If CloakCoin takes out the full calculated possible swing range there will be an estimated 54.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0842 (0.13%) than the resistance at $0.0853 (1.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CloakCoin cryptocurrency A Buy?
CloakCoin 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for CloakCoin of Thursday, June 27, 2024
Fair opening price June 27, 2024 | Current price |
---|---|
$0.0857 ( 1.59%) | $0.0844 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLOAKUSD
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0897 | 6.37% |
R2 | 0.0882 | 4.54% |
R1 | 0.0872 | 3.42% |
Price | 0.0844 | |
S1 | 0.0842 | -0.236% |
S2 | 0.0832 | -1.36% |
S3 | 0.0817 | -3.19% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0940 | 11.45% |
R2 | 0.0863 | 2.36% |
R1 | 0.0853 | 1.08% |
Price | 0.0844 | |
S1 | 0.0842 | -0.133% |
S2 | 0.0740 | -12.34% |
S3 | 0.0636 | -24.61% |
FAQ
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