Bonfida / US Dollar Cryptocurrency Forecast
Bonfida / US Dollar cryptocurrency upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 31, 2024)
The Bonfida / US Dollar cryptocurrency price gained 0.95% on the last trading day (Friday, 31st May 2024), rising from $0.290 to $0.293. During the last trading day the cryptocurrency fluctuated 2.19% from a day low at $0.288 to a day high of $0.294. The price has risen in 5 of the last 10 days and is up by 0.45% over the past 2 weeks. Volume fell on the last day by -184 thousand shares and in total, 2 million shares were bought and sold for approximately $725.30 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 -45.10% during the next 3 months and, with a 90% probability hold a price between $0.130 and $0.196 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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FIDAUSD Signals & Forecast
The Bonfida / US Dollar cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.293 and $0.293. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, May 20, 2024, and so far it has risen 7.71%. 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. 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 also not.
Support, Risk & Stop-loss for Bonfida / US Dollar cryptocurrency
Bonfida / US Dollar finds support from accumulated volume at $0.292 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 $0.0063 between high and low, or 2.19%. For the last week the cryptocurrency has had daily average volatility of 4.36%.
Our recommended stop-loss: $0.283 (-3.34%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 74 days ago.)
Trading Expectations (FIDAUSD) For The Upcoming Trading Day Of Saturday 1st
For the upcoming trading day on Saturday, 1st we expect Bonfida / US Dollar to open at $0.292, and during the day (based on 14 day Average True Range), to move between $0.276 and $0.311, which gives a possible trading interval of +/-$0.0177 (+/-6.03%) up or down from last closing price. If Bonfida / US Dollar takes out the full calculated possible swing range there will be an estimated 12.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.292 (0.44%) than the resistance at $0.297 (1.43%), 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?
Several short-term signals are positive, despite the cryptocurrency being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for cryptocurrency to perform well in the short-term. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.775 Buy Candidate Upgraded
Predicted Opening Price for Bonfida / US Dollar of Saturday, June 1, 2024
| Fair opening price June 1, 2024 | Current price |
|---|---|
| $0.292 ( 0.466%) | $0.293 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FIDAUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.298 | 1.68 % | |
| R2 | 0.296 | 0.86 % | ||
| R1 | 0.294 | 0.355 % | ||
| Current price: | 0.293 | |||
| Support | S1 | 0.289 | -1.29 % | |
| S2 | 0.288 | -1.79 % | ||
| S3 | 0.286 | -2.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.366 | 24.97 % | |
| R2 | 0.366 | 24.80 % | ||
| R1 | 0.297 | 1.43 % | ||
| Current price | 0.293 | |||
| Support | S1 | 0.292 | -0.443% | |
| S2 | 0.285 | -2.80% | ||
| S3 | 0.278 | -5.18% |
FAQ
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