EvenCoin USD Cryptocurrency Forecast
EvenCoin USD cryptocurrency downgraded to Sell Candidate
(Updated on Jul 04, 2024)
The EvenCoin USD cryptocurrency price fell by -3.04% on the last day (Thursday, 4th Jul 2024) from $0.0006 to $0.0006. It has now fallen 3 days in a row. During the last trading day the cryptocurrency fluctuated 6.75% from a day low at $0.0006 to a day high of $0.0006. The price has been going up and down for this period, and there has been a -3.19% loss for the last 2 weeks.
The cryptocurrency has broken the very wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $0.0006. A reaction back to this level may hold a second chance to get out before further falls.
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EVNUSD Signals & Forecast
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 EvenCoin 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 $0.0007. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -18.55%. 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 EvenCoin USD cryptocurrency
EvenCoin USD finds support from accumulated volume at $0.0006 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 $0.00004 between high and low, or 6.75%. For the last week the cryptocurrency has had daily average volatility of 3.48%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EVNUSD) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect EvenCoin USD to open at $0.0006, and during the day (based on 14 day Average True Range), to move between $0.0006 and $0.0006, which gives a possible trading interval of +/-$0.00002079 (+/-3.43%) up or down from last closing price. If EvenCoin USD takes out the full calculated possible swing range there will be an estimated 6.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0006 (0.99%) than the resistance at $0.0006 (4.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is EvenCoin USD cryptocurrency A Buy?
The EvenCoin USD cryptocurrency holds several negative signals and despite the positive trend, we believe EvenCoin USD will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.919 Sell Candidate Downgraded
Predicted Opening Price for EvenCoin USD of Friday, July 5, 2024
Fair opening price July 5, 2024 | Current price |
---|---|
$0.0006 ( 0.770%) | $0.0006 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EVNUSD
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0007 | 7.37% |
R2 | 0.0006 | 4.85% |
R1 | 0.0006 | 3.29% |
Price | 0.0006 | |
S1 | 0.0006 | -1.75% |
S2 | 0.0006 | -3.31% |
S3 | 0.0006 | -5.83% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0007 | 7.59% |
R2 | 0.0006 | 5.45% |
R1 | 0.0006 | 4.62% |
Price | 0.0006 | |
S1 | 0.0006 | -0.99% |
S2 | 0.0006 | -1.65% |
S3 | 0.0006 | -4.29% |
FAQ
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