ENCOINS USD Cryptocurrency Forecast
ENCOINS USD cryptocurrency price ended at $0.375 on Monday, after gaining 0.345%.
(Updated on May 06, 2024)
The ENCOINS USD cryptocurrency price gained 0.345% on the last trading day (Monday, 6th May 2024), rising from $0.374 to $0.375. During the last trading day the cryptocurrency fluctuated 1.66% from a day low at $0.373 to a day high of $0.379. The price has fallen in 6 of the last 10 days and is down by -5.62% for this period. Volume fell on the last day by -871 shares and in total, 4 thousand shares were bought and sold for approximately $1.57 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -42.81% during the next 3 months and, with a 90% probability hold a price between $0.135 and $0.289 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.
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ENCSUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 4.87%. 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 ENCOINS USD cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $0.423. On a fall, the cryptocurrency will find some support from the short-term average at $0.374. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for ENCOINS USD cryptocurrency
ENCOINS USD finds support from accumulated volume at $0.374 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, but be aware of low or falling volume as this increases the risk. During the last day, the cryptocurrency moved $0.0062 between high and low, or 1.66%. For the last week the cryptocurrency has had daily average volatility of 1.75%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ENCSUSD) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect ENCOINS USD to open at $0.376, and during the day (based on 14 day Average True Range), to move between $0.349 and $0.401, which gives a possible trading interval of +/-$0.0259 (+/-6.90%) up or down from last closing price. If ENCOINS USD takes out the full calculated possible swing range there will be an estimated 13.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.374 (0.34%) than the resistance at $0.408 (8.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ENCOINS USD cryptocurrency A Buy?
ENCOINS USD holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency.
Current score: -2.933 Sell Candidate Unchanged
Predicted Opening Price for ENCOINS USD of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $0.376 ( 0.174%) | $0.375 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENCSUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.382 | 1.82 % | |
| R2 | 0.380 | 1.19 % | ||
| R1 | 0.378 | 0.80 % | ||
| Current price: | 0.375 | |||
| Support | S1 | 0.373 | -0.455 % | |
| S2 | 0.372 | -0.84 % | ||
| S3 | 0.370 | -1.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.440 | 17.42 % | |
| R2 | 0.439 | 17.16 % | ||
| R1 | 0.408 | 8.66 % | ||
| Current price | 0.375 | |||
| Support | S1 | 0.374 | -0.344% | |
| S2 | 0.364 | -2.96% | ||
| S3 | 0.358 | -4.64% |
FAQ
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