Dai Cryptocurrency Forecast
Dai cryptocurrency price down 0.0500% on Friday
(Updated on Apr 26, 2024)
The Dai cryptocurrency price fell by -0.0500% on the last day (Friday, 26th Apr 2024) from $1.00 to $1.00. During the last trading day the cryptocurrency fluctuated 0.393% from a day low at $1.00 to a day high of $1.00. The price has fallen in 4 of the last 10 days and is down by -0.05% for this period. Volume has increased on the last day by 157 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 696 million shares were bought and sold for approximately $695.16 million.
The cryptocurrency is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Dai cryptocurrency with a 90% probability to be traded between $1.00 and $1.00 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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DAIUSD Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Dai 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 $1.00 and $1.00. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -0.124%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely.
A sell signal from a double top formation was found on Thursday, March 21, 2024 and based on theory for this formation the price should fall by -0.340% to $1.00 within 41 trading days since signal was issued (Saturday, April 27, 2024).
Support, Risk & Stop-loss for Dai cryptocurrency
Dai finds support from accumulated volume at $1.00 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 $0.0039 between high and low, or 0.393%. For the last week the cryptocurrency has had daily average volatility of 1.21%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DAIUSD) For The Upcoming Trading Day Of Saturday 27th
For the upcoming trading day on Saturday, 27th we expect Dai to open at $1.00, and during the day (based on 14 day Average True Range), to move between $0.98 and $1.02, which gives a possible trading interval of +/-$0.0158 (+/-1.59%) up or down from last closing price. If Dai takes out the full calculated possible swing range there will be an estimated 3.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.00 (0.05%) than the support at $1.00 (0.06%), 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 Dai cryptocurrency A Buy?
Dai holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this cryptocurrency.
Current score: -3.791 Sell Candidate Unchanged
Predicted Opening Price for Dai of Saturday, April 27, 2024
| Fair opening price April 27, 2024 | Current price |
|---|---|
| $1.00 ( 0.0160%) | $1.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DAIUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.00 | 0.408 % | |
| R2 | 1.00 | 0.258 % | ||
| R1 | 1.00 | 0.166 % | ||
| Current price: | 1.00 | |||
| Support | S1 | 1.00 | -0.134 % | |
| S2 | 1.00 | -0.226 % | ||
| S3 | 1.00 | -0.376 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.00 | 0.0700 % | |
| R2 | 1.00 | 0.0600 % | ||
| R1 | 1.00 | 0.0500 % | ||
| Current price | 1.00 | |||
| Support | S1 | 1.00 | -0.0590% | |
| S2 | 1.00 | -0.130% | ||
| S3 | 1.00 | -0.247% |
FAQ
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