Coinsbit Token / US Dollar Cryptocurrency Forecast

Is Coinsbit Token / US Dollar cryptocurrency still a buy after falling -27.27% on Tuesday?
(Updated on May 07, 2024)

CNBUSD Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Coinsbit Token / 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 $0.00009714 and $0.0001. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Coinsbit Token / 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". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Coinsbit Token / US Dollar cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.00007. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the cryptocurrency price.

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 between high and low, or 0%. For the last week, the cryptocurrency has had daily average volatility of 51.57%.

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

Trading Expectations (CNBUSD) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect Coinsbit Token / US Dollar to open at $0.00008, and during the day (based on 14 day Average True Range), to move between -$0.00002399 and $0.0002, which gives a possible trading interval of +/-$0.0001 (+/-129.99%) up or down from last closing price. If Coinsbit Token / US Dollar takes out the full calculated possible swing range there will be an estimated 259.98% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.000083 (3.75%) than the support at $0.00007 (12.50%), 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 Coinsbit Token / US Dollar cryptocurrency A Buy?

Coinsbit Token / US Dollar 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: -4.070 Sell Candidate Unchanged

Predicted Opening Price for Coinsbit Token / US Dollar of Wednesday, May 8, 2024

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