CargoX / US Dollar Cryptocurrency Forecast
CargoX / US Dollar cryptocurrency price took a fall of -18.60% on Thursday
(Updated on May 02, 2024)
The CargoX / US Dollar cryptocurrency price fell by -18.60% on the last day (Thursday, 2nd May 2024) from $0.127 to $0.103. During the last trading day the cryptocurrency fluctuated 0.95% from a day low at $0.103 to a day high of $0.104. The price has fallen in 6 of the last 10 days and is down by -19.25% for this period. 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 -23 shares and in total, 28 shares were bought and sold for approximately $2.89 .
The cryptocurrency lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to fall -28.03% during the next 3 months and, with a 90% probability hold a price between $0.0271 and $0.0954 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CXOUSD Signals & Forecast
The CargoX / US Dollar 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 $0.0998 and $0.0918. A breakdown below any of these levels will issue sell signals. 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 Wednesday, May 01, 2024, and so far it has fallen -18.60%. 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 CargoX / US Dollar cryptocurrency
CargoX / US Dollar finds support from accumulated volume at $0.0985 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 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 $0.0010 between high and low, or 0.95%. For the last week the cryptocurrency has had daily average volatility of 1.28%.
Our recommended stop-loss: $0.0971 (-5.94%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (CXOUSD) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect CargoX / US Dollar to open at $0.103, and during the day (based on 14 day Average True Range), to move between $0.0910 and $0.115, which gives a possible trading interval of +/-$0.0122 (+/-11.83%) up or down from last closing price. If CargoX / US Dollar takes out the full calculated possible swing range there will be an estimated 23.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0985 (4.61%) than the resistance at $0.120 (16.19%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CargoX / US Dollar cryptocurrency A Buy?
Several short-term signals are positive, despite the cryptocurrency being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for cryptocurrency to perform well in the short-term.
Current score: 1.249 Buy Candidate Unchanged
Predicted Opening Price for CargoX / US Dollar of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.103 ( 0.0387%) | $0.103 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CXOUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.104 | 0.99 % | |
| R2 | 0.104 | 0.625 % | ||
| R1 | 0.104 | 0.401 % | ||
| Current price: | 0.103 | |||
| Support | S1 | 0.103 | -0.324 % | |
| S2 | 0.103 | -0.548 % | ||
| S3 | 0.102 | -0.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.128 | 23.54 % | |
| R2 | 0.125 | 21.45 % | ||
| R1 | 0.120 | 16.19 % | ||
| Current price | 0.103 | |||
| Support | S1 | 0.0985 | -4.61% | |
| S2 | 0.0923 | -10.61% | ||
| S3 | 0.0905 | -12.40% |
FAQ
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