Diamond Cryptocurrency Forecast

Diamond cryptocurrency downgraded to Hold/Accumulate
(Updated on Jun 28, 2024)

DMDUSD Signals & Forecast

The Diamond 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 $3.49. On a fall, the cryptocurrency will find some support from the long-term average at approximately $2.98. 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. 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. A sell signal was issued from a pivot top point on Sunday, June 23, 2024, and so far it has fallen -3.53%. Further fall is indicated until a new bottom pivot has been found. 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 Diamond cryptocurrency

Diamond finds support from accumulated volume at $3.40 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 much during the day (volatility) and with periodic low trading volume this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.127 between high and low, or 3.66%. For the last week the cryptocurrency has had daily average volatility of 4.46%.

Our recommended stop-loss: $3.31 (-4.40%) (This cryptocurrency has high daily movements and this gives high risk. There is a sell signal from a pivot top found 31 days ago.)

Trading Expectations (DMDUSD) For The Upcoming Trading Day Of Saturday 29th

For the upcoming trading day on Saturday, 29th we expect Diamond to open at $3.50, and during the day (based on 14 day Average True Range), to move between $3.26 and $3.66, which gives a possible trading interval of +/-$0.196 (+/-5.67%) up or down from last closing price. If Diamond takes out the full calculated possible swing range there will be an estimated 11.33% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $3.47 (0.18%) than the support at $3.40 (1.74%), 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 Diamond cryptocurrency A Buy?

Diamond holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.946 Hold/Accumulate Downgraded

Predicted Opening Price for Diamond of Saturday, June 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.