COTI / US Dollar Cryptocurrency Forecast
Green day on Saturday for COTI / US Dollar cryptocurrency after gaining 0.0935%
(Updated on May 04, 2024)
The COTI / US Dollar cryptocurrency price gained 0.0935% on the last trading day (Saturday, 4th May 2024), rising from $0.118 to $0.118. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the cryptocurrency fluctuated 7.78% from a day low at $0.110 to a day high of $0.119. The price has risen in 6 of the last 10 days but is still down by -4.53% for this period. Volume fell on the last day by -5 million shares and in total, 3 million shares were bought and sold for approximately $393.78 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The cryptocurrency is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect COTI / US Dollar cryptocurrency with a 90% probability to be traded between $0.0565 and $0.272 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and cryptocurrencies seldom manage to go directly from the bottom of a trend up to the top. Cryptocurrencies turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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COTIUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. The COTI / US Dollar cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $0.136. On a fall, the cryptocurrency will find some support from the short-term average at $0.115. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, February 26, 2024, and so far it has fallen -56.66%. Further fall is indicated until a new bottom pivot has been found. 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 also not. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for COTI / US Dollar cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.109 and $0.102. 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, COTI / US Dollar finds support just below today's level at $0.109. If this is broken, then the next support from accumulated volume will be at $0.102 and $0.0978.
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 $0.0086 between high and low, or 7.78%. For the last week the cryptocurrency has had daily average volatility of 10.74%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (COTIUSD) For The Upcoming Trading Day Of Sunday 5th
For the upcoming trading day on Sunday, 5th we expect COTI / US Dollar to open at $0.115, and during the day (based on 14 day Average True Range), to move between $0.103 and $0.133, which gives a possible trading interval of +/-$0.0149 (+/-12.66%) up or down from last closing price. If COTI / US Dollar takes out the full calculated possible swing range there will be an estimated 25.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.125 (5.94%) than the support at $0.109 (7.48%), 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 COTI / US Dollar cryptocurrency A Buy?
COTI / US Dollar holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency.
Current score: -3.055 Sell Candidate Unchanged
Predicted Opening Price for COTI / US Dollar of Sunday, May 5, 2024
| Fair opening price May 5, 2024 | Current price |
|---|---|
| $0.115 ( 1.90%) | $0.118 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COTIUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.124 | 5.37 % | |
| R2 | 0.121 | 2.60 % | ||
| R1 | 0.119 | 0.88 % | ||
| Current price: | 0.118 | |||
| Support | S1 | 0.112 | -4.68 % | |
| S2 | 0.110 | -6.39 % | ||
| S3 | 0.107 | -9.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.136 | 15.88 % | |
| R2 | 0.125 | 6.36 % | ||
| R1 | 0.125 | 5.94 % | ||
| Current price | 0.118 | |||
| Support | S1 | 0.109 | -7.48% | |
| S2 | 0.102 | -13.26% | ||
| S3 | 0.0978 | -16.91% |
FAQ
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