FoodChain Global USD Cryptocurrency Forecast
A very red day for FoodChain Global USD cryptocurrency price after a -6.31% fall in the Monday trading session
(Updated on May 20, 2024)
The FoodChain Global USD cryptocurrency price fell by -6.31% on the last day (Monday, 20th May 2024) from $0.205 to $0.192. During the last trading day the cryptocurrency fluctuated 6.87% from a day low at $0.192 to a day high of $0.205. The price has fallen in 5 of the last 10 days but is still up by 20.74% over the past 2 weeks. Volume fell on the last day along with the cryptocurrency, which is actually a good sign as volume should follow the cryptocurrency. On the last day, the trading volume fell by -29 shares and in total, 20 shares were bought and sold for approximately $3.83 .
The cryptocurrency lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $0.213 will firstly indicate a stronger rate of rising. Given the current short-term trend, the cryptocurrency is expected to rise 19.30% during the next 3 months and, with a 90% probability hold a price between $0.104 and $0.254 at the end of this 3-month period.
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FOODUSD Signals & Forecast
The FoodChain Global USD cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the cryptocurrency has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.172 and $0.182. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Sunday, May 19, 2024, and so far it has fallen -6.31%. 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. The cryptocurrency had a Golden Star Signal on Thursday, March 28, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the cryptocurrency in question.
Golden Star
The cryptocurrency had a Golden Star Signal on Thursday, March 28, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the cryptocurrency in question.
Support, Risk & Stop-loss for FoodChain Global USD cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.158 and $0.157. 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, FoodChain Global USD finds support just below today's level at $0.158. If this is broken, then the next support from accumulated volume will be at $0.157 and $0.156.
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 $0.0132 between high and low, or 6.87%. For the last week the cryptocurrency has had daily average volatility of 6.14%.
Our recommended stop-loss: $0.182 (-5.12%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (FOODUSD) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect FoodChain Global USD to open at $0.196, and during the day (based on 14 day Average True Range), to move between $0.170 and $0.214, which gives a possible trading interval of +/-$0.0222 (+/-11.57%) up or down from last closing price. If FoodChain Global USD takes out the full calculated possible swing range there will be an estimated 23.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.198 (3.36%) than the support at $0.158 (17.78%), 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 FoodChain Global USD cryptocurrency A Buy?
FoodChain Global USD holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.041 Hold/Accumulate Downgraded
Predicted Opening Price for FoodChain Global USD of Tuesday, May 21, 2024
Fair opening price May 21, 2024 | Current price |
---|---|
$0.196 ( 2.26%) | $0.192 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FOODUSD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.209 | 9.13 % | |
R2 | 0.204 | 6.50 % | ||
R1 | 0.201 | 4.88 % | ||
Current price: | 0.192 | |||
Support | S1 | 0.191 | -0.369 % | |
S2 | 0.188 | -1.99 % | ||
S3 | 0.183 | -4.62 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.208 | 8.39 % | |
R2 | 0.208 | 8.37 % | ||
R1 | 0.198 | 3.36 % | ||
Current price | 0.192 | |||
Support | S1 | 0.158 | -17.78% | |
S2 | 0.157 | -17.86% | ||
S3 | 0.156 | -18.69% |
FAQ
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