poundtoken USD Cryptocurrency Forecast

poundtoken USD cryptocurrency upgraded to Hold/Accumulate.
(Updated on May 07, 2024)

GBPTUSD Signals & Forecast

The poundtoken USD cryptocurrency holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the cryptocurrency giving a positive forecast for the stock. On further gains, the cryptocurrency will meet resistance from the short-term Moving Average at approximately $1.25. On a fall, the cryptocurrency will find some support from the long-term average at approximately $1.12. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the cryptocurrency should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. 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, April 29, 2024, and so far it has fallen -0.380%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for poundtoken USD cryptocurrency

poundtoken USD finds support from accumulated volume at $1.25 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 a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0100 between high and low, or 0.81%. For the last week, the cryptocurrency has had daily average volatility of 0.85%.

The poundtoken USD cryptocurrency is extremely overbought on RSI14 (97). Normally this may pose a good selling opportunity but since the cryptocurrency has broken the trend up, the chance for a major correction due to high RSI is very small as the cryptocurrency will find support at the trend broken.

Our recommended stop-loss: $1.21 (-3.15%) (This cryptocurrency has very high daily movements and this gives very high risk. The RSI14 is 97 and this increases the risk substantially. There is a sell signal from a pivot top found 8 days ago.)

Trading Expectations (GBPTUSD) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect poundtoken USD to open at $1.25, and during the day (based on 14 day Average True Range), to move between $1.19 and $1.31, which gives a possible trading interval of +/-$0.0611 (+/-4.89%) up or down from last closing price. If poundtoken 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 $1.25 (0.10%) than the resistance at $1.25 (0.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is poundtoken USD cryptocurrency A Buy?

poundtoken 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. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.025 Hold/Accumulate Upgraded

Predicted Opening Price for poundtoken USD of Wednesday, May 8, 2024

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