DigitalCash / Dollar Cryptocurrency Forecast
Weaker technical forecast for DigitalCash / Dollar as cryptocurrency downgraded to Sell Candidate.
(Updated on Jul 02, 2024)
The DigitalCash / Dollar cryptocurrency price fell by -0.328% on the last day (Tuesday, 2nd Jul 2024) from $24.41 to $24.33. During the last trading day the cryptocurrency fluctuated 2.14% from a day low at $23.83 to a day high of $24.34. The price has fallen in 6 of the last 10 days but is still up by 0.58% over the past 2 weeks. Volume has increased on the last day by 2 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, 30 million shares were bought and sold for approximately $733.39 million.
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 -25.20% during the next 3 months and, with a 90% probability hold a price between $16.31 and $22.35 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
DASHUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 7.18%. Further rise is indicated until a new top pivot has been found. 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 DigitalCash / Dollar 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 $24.46 and $26.17. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely.
Support, Risk & Stop-loss for DigitalCash / Dollar cryptocurrency
DigitalCash / Dollar finds support from accumulated volume at $23.61 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.510 between high and low, or 2.14%. For the last week, the cryptocurrency has had daily average volatility of 2.98%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DASHUSD) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect DigitalCash / Dollar to open at $24.17, and during the day (based on 14 day Average True Range), to move between $23.21 and $25.45, which gives a possible trading interval of +/-$1.12 (+/-4.61%) up or down from last closing price. If DigitalCash / Dollar takes out the full calculated possible swing range there will be an estimated 9.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $23.61 (2.95%) than the resistance at $27.81 (14.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is DigitalCash / Dollar cryptocurrency A Buy?
DigitalCash / Dollar holds several negative signals and is within a very wide 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.491 Sell Candidate Downgraded
Predicted Opening Price for DigitalCash / Dollar of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $24.17 ( 0.671%) | $24.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DASHUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.68 | 1.42% |
| R2 | 24.48 | 0.624% |
| R1 | 24.36 | 0.129% |
| Price | 24.33 | |
| S1 | 23.97 | -1.47% |
| S2 | 23.85 | -1.97% |
| S3 | 23.66 | -2.77% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 29.90 | 22.89% |
| R2 | 29.54 | 21.41% |
| R1 | 27.81 | 14.30% |
| Price | 24.33 | |
| S1 | 23.61 | -2.95% |
| S2 | 22.78 | -6.36% |
| S3 | 22.70 | -6.70% |
FAQ
Click here for our free guide on how to buy DigitalCash / Dollar Cryptocurrency.
