Gas / US Dollar Cryptocurrency Forecast
Gas / US Dollar cryptocurrency price ended at $5.02 on Tuesday, after gaining 1.07%.
(Updated on Jun 04, 2024)
The Gas / US Dollar cryptocurrency price gained 1.07% on the last trading day (Tuesday, 4th Jun 2024), rising from $4.96 to $5.02. During the last trading day the cryptocurrency fluctuated 3.31% from a day low at $4.89 to a day high of $5.05. The price has fallen in 6 of the last 10 days and is down by -2.73% for this period. Volume fell on the last day by -31 thousand shares and in total, 9 million shares were bought and sold for approximately $44.60 million. 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 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 -31.83% during the next 3 months and, with a 90% probability hold a price between $2.90 and $3.80 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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GASUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. The Gas / US Dollar 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 $5.06. On a fall, the cryptocurrency will find some support from the short-term average at $4.99. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 4.05%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The cryptocurrency should be watched closely.
Support, Risk & Stop-loss for Gas / US Dollar cryptocurrency
Gas / US Dollar finds support from accumulated volume at $4.99 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.162 between high and low, or 3.31%. For the last week, the cryptocurrency has had daily average volatility of 2.51%.
Our recommended stop-loss: $4.81 (-4.06%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 42 days ago.)
Trading Expectations (GASUSD) For The Upcoming Trading Day Of Wednesday 5th
For the upcoming trading day on Wednesday, 5th we expect Gas / US Dollar to open at $4.98, and during the day (based on 14 day Average True Range), to move between $4.81 and $5.22, which gives a possible trading interval of +/-$0.203 (+/-4.06%) up or down from last closing price. If Gas / US Dollar takes out the full calculated possible swing range there will be an estimated 8.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.99 (0.48%) than the resistance at $6.02 (20.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Gas / US Dollar cryptocurrency A Buy?
Gas / US Dollar 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.
Current score: -0.334 Hold/Accumulate Unchanged
Predicted Opening Price for Gas / US Dollar of Wednesday, June 5, 2024
| Fair opening price June 5, 2024 | Current price |
|---|---|
| $4.98 ( 0.611%) | $5.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GASUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.15 | 2.62% |
| R2 | 5.08 | 1.38% |
| R1 | 5.05 | 0.622% |
| Price | 5.02 | |
| S1 | 4.92 | -1.85% |
| S2 | 4.88 | -2.61% |
| S3 | 4.82 | -3.84% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.27 | 24.95% |
| R2 | 6.09 | 21.38% |
| R1 | 6.02 | 20.10% |
| Price | 5.02 | |
| S1 | 4.99 | -0.479% |
| S2 | 4.98 | -0.758% |
| S3 | 4.97 | -1.00% |
FAQ
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