Decentralized Pictures USD Cryptocurrency Forecast
Decentralized Pictures USD cryptocurrency downgraded from Sell Candidate to Strong Sell Candidate after Tuesday trading session.
(Updated on May 07, 2024)
The Decentralized Pictures USD cryptocurrency price gained 2.71% on the last trading day (Tuesday, 7th May 2024), rising from $0.0215 to $0.0220. During the last trading day the cryptocurrency fluctuated 3.91% from a day low at $0.0212 to a day high of $0.0221. The price has fallen in 6 of the last 10 days and is down by -37.32% for this period. Volume fell on the last day by -73 shares and in total, 1 thousand shares were bought and sold for approximately $28.05 . 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 lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0157 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -8.06% during the next 3 months and, with a 90% probability hold a price between $0.0144 and $0.103 at the end of this 3-month period.
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FILMUSD 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 Decentralized Pictures 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 $0.0227 and $0.0325. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -80.84%. Further fall is indicated until a new bottom pivot has been found. 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 Decentralized Pictures USD cryptocurrency
Decentralized Pictures USD finds support from accumulated volume at $0.0214 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency may move very much during the day (volatility) and with periodic low trading volume this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0008 between high and low, or 3.91%. For the last week the cryptocurrency has had daily average volatility of 8.55%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FILMUSD) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Decentralized Pictures USD to open at $0.0218, and during the day (based on 14 day Average True Range), to move between $0.0086 and $0.0355, which gives a possible trading interval of +/-$0.0135 (+/-61.07%) up or down from last closing price. If Decentralized Pictures USD takes out the full calculated possible swing range there will be an estimated 122.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0214 (2.69%) than the resistance at $0.0227 (3.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Decentralized Pictures USD cryptocurrency A Buy?
Decentralized Pictures USD holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Sell to a Strong Sell candidate.
Current score: -6.288 Strong Sell Candidate Downgraded
Predicted Opening Price for Decentralized Pictures USD of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $0.0218 ( 1.18%) | $0.0220 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FILMUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0226 | 2.59 % | |
| R2 | 0.0223 | 1.15 % | ||
| R1 | 0.0221 | 0.262 % | ||
| Current price: | 0.0220 | |||
| Support | S1 | 0.0215 | -2.62 % | |
| S2 | 0.0213 | -3.51 % | ||
| S3 | 0.0209 | -4.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0270 | 22.69 % | |
| R2 | 0.0230 | 4.42 % | ||
| R1 | 0.0227 | 3.22 % | ||
| Current price | 0.0220 | |||
| Support | S1 | 0.0214 | -2.69% | |
| S2 | 0.0201 | -8.72% | ||
| S3 | 0.0200 | -9.45% |
FAQ
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