Compound USD Coin Cryptocurrency Forecast
Compound USD Coin cryptocurrency price ended at $0.0238 on Wednesday, after losing 0.0965%.
(Updated on Apr 24, 2024)
The Compound USD Coin cryptocurrency price fell by -0.0965% on the last day (Wednesday, 24th Apr 2024) from $0.0238 to $0.0238. During the last trading day the cryptocurrency fluctuated 0.93% from a day low at $0.0236 to a day high of $0.0239. The price has fallen in 6 of the last 10 days but is still up by 0.1% over the past 2 weeks. Volume fell on the last day along with the cryptocurrency, which is actually a good sign as volume should follow the cryptocurrency. On the last day, the trading volume fell by -4 shares and in total, 3 shares were bought and sold for approximately $0.0714 .
The cryptocurrencyis at the upper part of a narrow and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $0.0238 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Compound USD Coin cryptocurrency with a 90% probability to be traded between $0.0236 and $0.0243 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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CUSDCUSD Signals & Forecast
The Compound USD Coin 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 $0.0238. On a fall, the cryptocurrency will find some support from the long-term average at approximately $0.0238. 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. 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 Tuesday, April 23, 2024, and so far it has fallen -0.0965%. 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 Compound USD Coin cryptocurrency
Compound USD Coin finds support from accumulated volume at $0.0237 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the cryptocurrency tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the cryptocurrency During the last day, the cryptocurrency moved $0.0002 between high and low, or 0.93%. For the last week the cryptocurrency has had daily average volatility of 0.582%
Our recommended stop-loss: $0.0226 (-5.02%) (This cryptocurrency has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (CUSDCUSD) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Compound USD Coin to open at $0.0238, and during the day (based on 14 day Average True Range), to move between $0.0236 and $0.0240, which gives a possible trading interval of +/-$0.0002 (+/-0.83%) up or down from last closing price. If Compound USD Coin takes out the full calculated possible swing range there will be an estimated 1.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0238 (0.00%) than the support at $0.0237 (0.52%), 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 Compound USD Coin cryptocurrency A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Compound USD Coin cryptocurrency to perform well in the short-term period.
Current score: 1.228 Buy Candidate Unchanged
Predicted Opening Price for Compound USD Coin of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.0238 ( 0.145%) | $0.0238 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CUSDCUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0240 | 0.774 % | |
| R2 | 0.0239 | 0.423 % | ||
| R1 | 0.0238 | 0.206 % | ||
| Current price: | 0.0238 | |||
| Support | S1 | 0.0237 | -0.496 % | |
| S2 | 0.0236 | -0.713 % | ||
| S3 | 0.0235 | -1.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0238 | 0.0589 % | |
| R2 | 0.0238 | 0.0073 % | ||
| R1 | 0.0238 | 0.0015 % | ||
| Current price | 0.0238 | |||
| Support | S1 | 0.0237 | -0.522% | |
| S2 | 0.0235 | -1.16% | ||
| S3 | 0.0229 | -3.75% |
FAQ
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