Compound USD Coin Cryptocurrency Forecast
Compound USD Coin cryptocurrency upgraded to Buy Candidate.
(Updated on May 04, 2024)
The Compound USD Coin cryptocurrency price gained 0.0056% on the last trading day (Saturday, 4th May 2024), rising from $0.0239 to $0.0239. During the last trading day the cryptocurrency fluctuated 0.486% from a day low at $0.0238 to a day high of $0.0239. The price has risen in 6 of the last 10 days and is up by 0.25% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 94 more shares were traded than the day before. In total, 106 shares were bought and sold for approximately $2.53 .
The cryptocurrency lies in the upper part of a narrow and weak rising 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 $0.0239 will firstly indicate a stronger rate of rising. Given the current short-term trend, the cryptocurrency is expected to rise 2.36% during the next 3 months and, with a 90% probability hold a price between $0.0239 and $0.0245 at the end of this 3-month period.
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CUSDCUSD Signals & Forecast
The Compound USD Coin 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 $0.0238 and $0.0238. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Compound USD Coin has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Thursday, May 02, 2024, and so far it has fallen -0.259%. Further fall is indicated until a new bottom pivot has been found.
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 with good liquidity the risk is considered very low in this stock. During the last day, the cryptocurrency moved $0.0001 between high and low, or 0.486%. For the last week the cryptocurrency has had daily average volatility of 0.564%.
Our recommended stop-loss: $0.0223 (-6.53%) (This cryptocurrency has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (CUSDCUSD) For The Upcoming Trading Day Of Sunday 5th
For the upcoming trading day on Sunday, 5th we expect Compound USD Coin to open at $0.0239, and during the day (based on 14 day Average True Range), to move between $0.0237 and $0.0240, which gives a possible trading interval of +/-$0.0002 (+/-0.72%) up or down from last closing price. If Compound USD Coin takes out the full calculated possible swing range there will be an estimated 1.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0239 (0.26%) than the support at $0.0237 (0.77%), 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, 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 Compound USD Coin 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: 2.441 Buy Candidate Upgraded
Predicted Opening Price for Compound USD Coin of Sunday, May 5, 2024
| Fair opening price May 5, 2024 | Current price |
|---|---|
| $0.0239 ( 0.0011%) | $0.0239 |
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 | 0.485 % | |
| R2 | 0.0239 | 0.300 % | ||
| R1 | 0.0239 | 0.186 % | ||
| Current price: | 0.0239 | |||
| Support | S1 | 0.0238 | -0.184 % | |
| S2 | 0.0238 | -0.298 % | ||
| S3 | 0.0237 | -0.483 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.0239 | 0.259 % | ||
| Current price | 0.0239 | |||
| Support | S1 | 0.0237 | -0.772% | |
| S2 | 0.0235 | -1.41% | ||
| S3 | 0.0229 | -3.99% |
FAQ
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