DogeCash USD Cryptocurrency Forecast
DogeCash USD cryptocurrency price ended at $0.0145 on Monday, after losing 1.18%.
(Updated on May 06, 2024)
The DogeCash USD cryptocurrency price fell by -1.18% on the last day (Monday, 6th May 2024) from $0.0147 to $0.0145. During the last trading day the cryptocurrency fluctuated 3.99% from a day low at $0.0145 to a day high of $0.0150. The price has fallen in 6 of the last 10 days and is down by -18.98% 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 -51 shares and in total, 313 shares were bought and sold for approximately $4.55 .
The cryptocurrency is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $0.0096 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect DogeCash USD cryptocurrency with a 90% probability to be traded between $0.0096 and $1.49 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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DOGECUSD Signals & Forecast
There are few to no technical positive signals at the moment. The DogeCash USD 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 $0.0163 and $0.0208. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 19, 2024, and so far it has fallen -99.03%. 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 DogeCash USD cryptocurrency
DogeCash USD finds support from accumulated volume at $0.0139 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 $0.0006 between high and low, or 3.99%. For the last week the cryptocurrency has had daily average volatility of 11.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DOGECUSD) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect DogeCash USD to open at $0.0147, and during the day (based on 14 day Average True Range), to move between -$0.0582 and $0.0873, which gives a possible trading interval of +/-$0.0728 (+/-500.85%) up or down from last closing price. If DogeCash USD takes out the full calculated possible swing range there will be an estimated 1 001.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0139 (4.44%) than the resistance at $0.0155 (6.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is DogeCash USD cryptocurrency A Buy?
DogeCash USD 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.
Current score: -5.836 Strong Sell Candidate Unchanged
Predicted Opening Price for DogeCash USD of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $0.0147 ( 1.06%) | $0.0145 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DOGECUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0153 | 5.03 % | |
| R2 | 0.0150 | 3.51 % | ||
| R1 | 0.0149 | 2.57 % | ||
| Current price: | 0.0145 | |||
| Support | S1 | 0.0145 | -0.459 % | |
| S2 | 0.0143 | -1.40 % | ||
| S3 | 0.0141 | -2.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0181 | 24.36 % | |
| R2 | 0.0179 | 23.43 % | ||
| R1 | 0.0155 | 6.76 % | ||
| Current price | 0.0145 | |||
| Support | S1 | 0.0139 | -4.44% | |
| S2 | 0.0120 | -17.32% | ||
| S3 | 0.0114 | -21.69% |
FAQ
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