DRAC Network USD Cryptocurrency Forecast

Stronger technical forecast for DRAC Network USD cryptocurrency price after Thursday trading.
(Updated on May 16, 2024)

DRACUSD Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The DRAC Network 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 $0.0006 and $0.0006. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for DRAC Network USD cryptocurrency

DRAC Network USD finds support from accumulated volume at $0.0005 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the cryptocurrency During the last day, the cryptocurrency moved $0 between high and low, or 0%. For the last week the cryptocurrency has had daily average volatility of 0.92%

Our recommended stop-loss: $0.0005 (-6.20%) (This cryptocurrency has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (DRACUSD) For The Upcoming Trading Day Of Friday 17th

For the upcoming trading day on Friday, 17th we expect DRAC Network USD to open at $0.0005, and during the day (based on 14 day Average True Range), to move between $0.0005 and $0.0006, which gives a possible trading interval of +/-$0.00001183 (+/-2.18%) up or down from last closing price. If DRAC Network USD takes out the full calculated possible swing range there will be an estimated 4.36% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0005 (1.47%) than the resistance at $0.0006 (4.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is DRAC Network USD cryptocurrency A Buy?

DRAC Network USD holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.569 Hold/Accumulate Upgraded

Predicted Opening Price for DRAC Network USD of Friday, May 17, 2024

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