Contentos / US Dollar Cryptocurrency Forecast

High volatility in Contentos / US Dollar cryptocurrency price on Tuesday which ended trading at $0.0145
(Updated on Apr 30, 2024)

COSUSD Signals & Forecast

The Contentos / US Dollar cryptocurrency holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the cryptocurrency giving a positive forecast for the stock. On further gains, the cryptocurrency will meet resistance from the short-term Moving Average at approximately $0.0194. On a fall, the cryptocurrency will find some support from the long-term average at approximately $0.0139. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Saturday, April 27, 2024, and so far it has fallen -53.87%. 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.

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

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0127 and $0.0126. 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, Contentos / US Dollar finds support just below today's level at $0.0127. If this is broken, then the next support from accumulated volume will be at $0.0126 and $0.0119.

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 $0.0028 between high and low, or 20.46%. For the last week the cryptocurrency has had daily average volatility of 41.57%.

Our recommended stop-loss: $0.0136 (-5.90%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (COSUSD) For The Upcoming Trading Day Of Wednesday 1st

For the upcoming trading day on Wednesday, 1st we expect Contentos / US Dollar to open at $0.0150, and during the day (based on 14 day Average True Range), to move between $0.0107 and $0.0182, which gives a possible trading interval of +/-$0.0037 (+/-25.80%) up or down from last closing price. If Contentos / US Dollar takes out the full calculated possible swing range there will be an estimated 51.61% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0159 (9.68%) than the support at $0.0127 (12.46%), 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 Contentos / US Dollar cryptocurrency A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Contentos / US Dollar cryptocurrency to perform well in the short-term. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.826 Buy Candidate Upgraded

Predicted Opening Price for Contentos / US Dollar of Wednesday, May 1, 2024

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