Enecuum USD Cryptocurrency Forecast

Enecuum USD cryptocurrency price took a fall of -7.79% on Thursday
(Updated on Jun 06, 2024)

ENQUSD Signals & Forecast

The Enecuum USD 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 $0.0011. On a fall, the cryptocurrency will find some support from the long-term average at approximately $0.0009. 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. 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 02, 2024, and so far it has fallen -39.65%. 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). Enecuum USD gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Enecuum USD cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0009 and $0.0009. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, Enecuum USD finds support just below today's level at $0.0009. If this is broken, then the next support from accumulated volume will be at $0.0009 and $0.0008.

This cryptocurrency may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.000081 between high and low, or 8.45%. For the last week, the cryptocurrency has had daily average volatility of 25.36%.

Our recommended stop-loss: $0.0009 (-3.10%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 20 days ago.)

Trading Expectations (ENQUSD) For The Upcoming Trading Day Of Friday 7th

For the upcoming trading day on Friday, 7th we expect Enecuum USD to open at $0.0010, and during the day (based on 14 day Average True Range), to move between $0.0007 and $0.0012, which gives a possible trading interval of +/-$0.0003 (+/-26.87%) up or down from last closing price. If Enecuum USD takes out the full calculated possible swing range there will be an estimated 53.73% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0010 (1.15%) than the support at $0.0009 (5.11%), 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 Enecuum USD cryptocurrency A Buy?

Enecuum 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.

Current score: -0.051 Hold/Accumulate Unchanged

Predicted Opening Price for Enecuum USD of Friday, June 7, 2024

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