Frax Price Index Share USD Cryptocurrency Forecast
Stronger technical forecast for Frax Price Index Share USD cryptocurrency price after Wednesday trading.
(Updated on May 08, 2024)
The Frax Price Index Share USD cryptocurrency price fell by -1.76% on the last day (Wednesday, 8th May 2024) from $1.14 to $1.12. During the last trading day the cryptocurrency fluctuated 1.33% from a day low at $1.12 to a day high of $1.13. The price has fallen in 6 of the last 10 days but is still up by 6.16% 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 -8 shares and in total, 19 thousand shares were bought and sold for approximately $21.01 thousand.
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 -20.13% during the next 3 months and, with a 90% probability hold a price between $0.545 and $1.11 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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FPISUSD Signals & Forecast
The Frax Price Index Share USD 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 $1.09 and $1.05. 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 Monday, May 06, 2024, and so far it has fallen -3.07%. 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 Frax Price Index Share USD cryptocurrency
Frax Price Index Share USD finds support from accumulated volume at $1.10 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 much during the day (volatility) and with periodic low trading volume this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0148 between high and low, or 1.33%. For the last week the cryptocurrency has had daily average volatility of 4.80%.
Our recommended stop-loss: $1.06 (-4.72%) (This cryptocurrency has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (FPISUSD) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Frax Price Index Share USD to open at $1.12, and during the day (based on 14 day Average True Range), to move between $1.06 and $1.17, which gives a possible trading interval of +/-$0.0546 (+/-4.89%) up or down from last closing price. If Frax Price Index Share USD takes out the full calculated possible swing range there will be an estimated 9.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.10 (1.30%) than the resistance at $1.21 (8.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Frax Price Index Share USD 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: 1.628 Buy Candidate Upgraded
Predicted Opening Price for Frax Price Index Share USD of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $1.12 ( 0.442%) | $1.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FPISUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.14 | 1.77 % | |
| R2 | 1.13 | 1.26 % | ||
| R1 | 1.13 | 0.95 % | ||
| Current price: | 1.12 | |||
| Support | S1 | 1.12 | -0.0645 % | |
| S2 | 1.11 | -0.377 % | ||
| S3 | 1.11 | -0.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.34 | 20.25 % | |
| R2 | 1.34 | 19.73 % | ||
| R1 | 1.21 | 8.33 % | ||
| Current price | 1.12 | |||
| Support | S1 | 1.10 | -1.30% | |
| S2 | 1.04 | -6.75% | ||
| S3 | 1.03 | -7.76% |
FAQ
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