Popcorn / US Dollar Cryptocurrency Forecast
Popcorn / US Dollar cryptocurrency price down 0.203% on Sunday
(Updated on May 19, 2024)
The Popcorn / US Dollar cryptocurrency price fell by -0.203% on the last day (Sunday, 19th May 2024) from $11.36 to $11.34. During the last trading day the cryptocurrency fluctuated 0.589% from a day low at $11.32 to a day high of $11.39. The price has fallen in 6 of the last 10 days but is still up by 3.35% over the past 2 weeks. Volume has increased on the last day by 6 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 14 thousand shares were bought and sold for approximately $154.51 thousand.
The cryptocurrency lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $11.43 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the cryptocurrency is expected to fall -19.99% during the next 3 months and, with a 90% probability hold a price between $7.19 and $9.15 at the end of this 3-month period. 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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CORNUSD Signals & Forecast
The Popcorn / US Dollar cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $11.12 and $10.85. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 14.01%. 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. Popcorn / 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".
Support, Risk & Stop-loss for Popcorn / US Dollar cryptocurrency
Popcorn / US Dollar finds support from accumulated volume at $11.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the cryptocurrency moved $0.0667 (0.589%) between high and low. For the last week, the cryptocurrency has had daily average volatility of 2.22%.
Our recommended stop-loss: $11.02 (-2.84%) (This cryptocurrency has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 50 days ago.)
Trading Expectations (CORNUSD) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Popcorn / US Dollar to open at $11.35, and during the day (based on 14 day Average True Range), to move between $10.92 and $11.76, which gives a possible trading interval of +/-$0.418 (+/-3.68%) up or down from last closing price. If Popcorn / US Dollar takes out the full calculated possible swing range there will be an estimated 7.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.25 (0.83%) than the resistance at $12.61 (11.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Popcorn / US Dollar cryptocurrency A Buy?
Several short-term signals are positive, despite the cryptocurrency being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for cryptocurrency to perform well in the short-term.
Current score: 1.825 Buy Candidate Unchanged
Predicted Opening Price for Popcorn / US Dollar of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $11.35 ( 0.0846%) | $11.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CORNUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.42 | 0.673 % | |
| R2 | 11.39 | 0.448 % | ||
| R1 | 11.38 | 0.309 % | ||
| Current price: | 11.34 | |||
| Support | S1 | 11.33 | -0.140 % | |
| S2 | 11.31 | -0.279 % | ||
| S3 | 11.28 | -0.504 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.92 | 13.90 % | |
| R2 | 12.74 | 12.32 % | ||
| R1 | 12.61 | 11.21 % | ||
| Current price | 11.34 | |||
| Support | S1 | 11.25 | -0.83% | |
| S2 | 11.07 | -2.36% | ||
| S3 | 10.84 | -4.44% |
FAQ
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