Coinsbit Token / US Dollar Cryptocurrency Forecast
Big movements in Coinsbit Token / US Dollar cryptocurrency price on Wednesday moving 21,000.00% between high and low
(Updated on May 29, 2024)
The Coinsbit Token / US Dollar cryptocurrency price gained 20,450.00% on the last trading day (Wednesday, 29th May 2024), rising from $0.000002 to $0.0004. During the last trading day the cryptocurrency fluctuated 21,000.00% from a day low at $0.000002 to a day high of $0.0004. The price has been going up and down for this period, and there has been a 8120% gain for the last 2 weeks.
Due to the high volatility and the trend direction we are not able to give forecast range for this stock. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CNBUSD Signals & Forecast
The Coinsbit Token / US Dollar cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the cryptocurrency has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.00006043 and $0.00007614. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 22, 2024, and so far it has risen 20,450.00%. Further rise is indicated until a new top pivot has been found. 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. 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.
Support, Risk & Stop-loss for Coinsbit Token / US Dollar cryptocurrency
Coinsbit Token / US Dollar finds support from accumulated volume at $0.0004 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 $0.0004 between high and low, or 21,000.00%. For the last week the cryptocurrency has had daily average volatility of 4,200.00%.
The Coinsbit Token / US Dollar cryptocurrency is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some cryptocurrencies may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the cryptocurrency manages to break the trend before that occurs.
Our recommended stop-loss: $0.0004 (-2.62%) (This cryptocurrency has very high daily movements and this gives very high risk. The RSI14 is 94 and this increases the risk substantially. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (CNBUSD) For The Upcoming Trading Day Of Thursday 30th
For the upcoming trading day on Thursday, 30th we expect Coinsbit Token / US Dollar to open at $0.0003, and during the day (based on 14 day Average True Range), to move between $0.0003 and $0.0005, which gives a possible trading interval of +/-$0.00006268 (+/-15.25%) 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 30.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0004 (0.24%) than the resistance at $0.0004 (2.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Coinsbit Token / US Dollar cryptocurrency A Buy?
Coinsbit Token / US Dollar holds several positive signals and despite the cryptocurrency being in a falling trend, we considered it to be a good choice at these current levels. We expect Coinsbit Token / US Dollar cryptocurrency will perform very well in the next 3 months. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Strong Buy candidate.
Current score: 5.750 Strong Buy Candidate Upgraded
Predicted Opening Price for Coinsbit Token / US Dollar of Thursday, May 30, 2024
| Fair opening price May 30, 2024 | Current price |
|---|---|
| $0.0003 ( 32.28%) | $0.0004 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CNBUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0007 | 69.91 % | |
| R2 | 0.0005 | 30.87 % | ||
| R1 | 0.0004 | 6.76 % | ||
| Current price: | 0.0004 | |||
| Support | S1 | 0.0001 | -71.32 % | |
| S2 | 0.00001877 | -95.43 % | ||
| S3 | -0.0001 | -134.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0005 | 16.79 % | |
| R2 | 0.0004 | 3.16 % | ||
| R1 | 0.0004 | 2.68 % | ||
| Current price | 0.0004 | |||
| Support | S1 | 0.0004 | -0.243% | |
| S2 | 0.0003 | -23.36% | ||
| S3 | 0.0003 | -24.57% |
FAQ
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