Galatasaray Fan Token / US Dollar Cryptocurrency Forecast
High volatility in Galatasaray Fan Token / US Dollar cryptocurrency price on Thursday which ended trading at $3.68
(Updated on May 30, 2024)
The Galatasaray Fan Token / US Dollar cryptocurrency price fell by -8.29% on the last day (Thursday, 30th May 2024) from $4.02 to $3.68. During the last trading day the cryptocurrency fluctuated 11.71% from a day low at $3.59 to a day high of $4.01. The price has fallen in 6 of the last 10 days but is still up by 8.58% 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 -3 million shares and in total, 6 million shares were bought and sold for approximately $20.91 million.
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 -16.65% during the next 3 months and, with a 90% probability hold a price between $2.42 and $4.09 at the end of this 3-month period.
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GALUSD Signals & Forecast
The Galatasaray Fan Token / US Dollar 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 $3.58 and $3.60. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, May 27, 2024, and so far it has risen 25.33%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Galatasaray Fan Token / US Dollar cryptocurrency
Galatasaray Fan Token / US Dollar finds support from accumulated volume at $3.64 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 a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.420 between high and low, or 11.71%. For the last week, the cryptocurrency has had daily average volatility of 34.58%.
Our recommended stop-loss: $3.54 (-3.84%) (This cryptocurrency has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 65 days ago.)
Trading Expectations (GALUSD) For The Upcoming Trading Day Of Friday 31st
For the upcoming trading day on Friday, 31st we expect Galatasaray Fan Token / US Dollar to open at $3.76, and during the day (based on 14 day Average True Range), to move between $3.15 and $4.22, which gives a possible trading interval of +/-$0.536 (+/-14.55%) up or down from last closing price. If Galatasaray Fan Token / US Dollar takes out the full calculated possible swing range there will be an estimated 29.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.64 (1.11%) than the resistance at $4.02 (9.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Galatasaray Fan Token / 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.
Current score: 2.810 Buy Candidate Unchanged
Predicted Opening Price for Galatasaray Fan Token / US Dollar of Friday, May 31, 2024
| Fair opening price May 31, 2024 | Current price |
|---|---|
| $3.76 ( 2.05%) | $3.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GALUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.18 | 13.45 % | |
| R2 | 4.02 | 9.09 % | ||
| R1 | 3.92 | 6.40 % | ||
| Current price: | 3.68 | |||
| Support | S1 | 3.60 | -2.31 % | |
| S2 | 3.50 | -5.00 % | ||
| S3 | 3.34 | -9.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.19 | 13.82 % | |
| R2 | 4.02 | 9.10 % | ||
| R1 | 4.02 | 9.07 % | ||
| Current price | 3.68 | |||
| Support | S1 | 3.64 | -1.11% | |
| S2 | 3.24 | -12.03% | ||
| S3 | 2.94 | -20.21% |
FAQ
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