Contentos / US Dollar Cryptocurrency Forecast

A very red day for Contentos / US Dollar cryptocurrency price after a -6.81% fall in the Monday trading session
(Updated on May 20, 2024)

COSUSD Signals & Forecast

There are few to no technical positive signals at the moment. The Contentos / 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 $0.0099 and $0.0129. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Saturday, April 27, 2024, and so far it has fallen -70.14%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Contentos / US Dollar cryptocurrency

Contentos / US Dollar finds support from accumulated volume at $0.0090 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 much during the day (volatility) and with periodic low trading volume this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0009 between high and low, or 9.51%. For the last week the cryptocurrency has had daily average volatility of 4.91%.

Contentos / US Dollar is oversold on RSI14 (24). Some cryptocurrencies may drop long and hard while being oversold on RSI before turning, which increases the general risk.

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

Trading Expectations (COSUSD) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Contentos / US Dollar to open at $0.0095, and during the day (based on 14 day Average True Range), to move between $0.0079 and $0.0108, which gives a possible trading interval of +/-$0.0015 (+/-15.79%) up or down from last closing price. If Contentos / US Dollar takes out the full calculated possible swing range there will be an estimated 31.59% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0090 (3.73%) than the resistance at $0.0100 (6.42%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Contentos / US Dollar cryptocurrency A Buy?

The Contentos / US Dollar cryptocurrency holds several negative signals and despite the positive trend, we believe Contentos / US Dollar will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency.

Current score: -1.193 Sell Candidate Unchanged

Predicted Opening Price for Contentos / US Dollar of Tuesday, May 21, 2024

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