GameCredits Cryptocurrency Forecast

High volatility in GameCredits cryptocurrency price on Monday which ended trading at $0.0043
(Updated on May 06, 2024)

GAMEUSD Signals & Forecast

There are mixed signals in the cryptocurrency today. The GameCredits cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $0.0067. On a fall, the cryptocurrency will find some support from the short-term average at $0.0033. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Sunday, April 07, 2024, and so far it has fallen -82.57%. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for GameCredits cryptocurrency

GameCredits finds support from accumulated volume at $0.0042 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 $0.0014 between high and low, or 46.26%. For the last week the cryptocurrency has had daily average volatility of 34.32%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (GAMEUSD) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect GameCredits to open at $0.0040, and during the day (based on 14 day Average True Range), to move between $0.0021 and $0.0064, which gives a possible trading interval of +/-$0.0021 (+/-50.24%) up or down from last closing price. If GameCredits takes out the full calculated possible swing range there will be an estimated 100.48% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0042 (1.27%) than the resistance at $0.0044 (2.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is GameCredits cryptocurrency A Buy?

GameCredits holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -3.215 Sell Candidate Upgraded

Predicted Opening Price for GameCredits of Tuesday, May 7, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.