Bonfida / US Dollar Cryptocurrency Forecast

Bonfida / US Dollar cryptocurrency upgraded to Hold/Accumulate.
(Updated on May 17, 2024)

FIDAUSD Signals & Forecast

Bonfida / US Dollar has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bonfida / US Dollar 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 $0.283 and $0.311. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 18, 2024, and so far it has fallen -53.71%. 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).

Support, Risk & Stop-loss for Bonfida / US Dollar cryptocurrency

Bonfida / US Dollar finds support from accumulated volume at $0.278 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 and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.0259 between high and low, or 9.48%. For the last week, the cryptocurrency has had daily average volatility of 5.63%.

Our recommended stop-loss: $0.260 (-6.42%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 60 days ago.)

Trading Expectations (FIDAUSD) For The Upcoming Trading Day Of Saturday 18th

For the upcoming trading day on Saturday, 18th we expect Bonfida / US Dollar to open at $0.284, and during the day (based on 14 day Average True Range), to move between $0.257 and $0.300, which gives a possible trading interval of +/-$0.0216 (+/-7.76%) up or down from last closing price. If Bonfida / US Dollar takes out the full calculated possible swing range there will be an estimated 15.53% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.278 (0.04%) than the resistance at $0.318 (14.31%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Bonfida / US Dollar cryptocurrency A Buy?

Bonfida / US Dollar 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: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Bonfida / US Dollar of Saturday, May 18, 2024

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