poundtoken USD Cryptocurrency Forecast
poundtoken USD cryptocurrency upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on May 30, 2024)
The poundtoken USD cryptocurrency price gained 0.794% on the last trading day (Thursday, 30th May 2024), rising from $1.26 to $1.27. During the last trading day the cryptocurrency fluctuated 0.787% from a day low at $1.27 to a day high of $1.28. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks. Volume fell on the last day by -793 shares and in total, 35 thousand shares were bought and sold for approximately $44.59 thousand. 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 upper part of a very wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $1.28 will firstly indicate a stronger rate of rising. Given the current short-term trend, the cryptocurrency is expected to rise 2.41% during the next 3 months and, with a 90% probability hold a price between $0.673 and $1.31 at the end of this 3-month period.
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GBPTUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -0.781%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The poundtoken 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 $1.27 and $1.26. A breakdown below any of these levels will issue sell signals.
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.
In general the cryptocurrency tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the cryptocurrency During the last day, the cryptocurrency moved $0.0100 between high and low, or 0.787%. For the last week the cryptocurrency has had daily average volatility of 0.95%
Our recommended stop-loss: $1.22 (-3.81%) (This cryptocurrency has low daily movements and this gives low risk. There is a sell signal from a pivot top found 40 days ago.)
Trading Expectations (GBPTUSD) For The Upcoming Trading Day Of Friday 31st
For the upcoming trading day on Friday, 31st we expect poundtoken USD to open at $1.27, and during the day (based on 14 day Average True Range), to move between $1.25 and $1.29, which gives a possible trading interval of +/-$0.0205 (+/-1.62%) up or down from last closing price. If poundtoken USD takes out the full calculated possible swing range there will be an estimated 3.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.28 (0.79%) than the support at $1.25 (1.57%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is poundtoken USD cryptocurrency A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for poundtoken USD 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: 3.304 Buy Candidate Upgraded
Predicted Opening Price for poundtoken USD of Friday, May 31, 2024
Fair opening price May 31, 2024 | Current price |
---|---|
$1.27 ( 0.262%) | $1.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GBPTUSD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.28 | 1.05 % | |
R2 | 1.28 | 0.749 % | ||
R1 | 1.28 | 0.563 % | ||
Current price: | 1.27 | |||
Support | S1 | 1.27 | -0.0383 % | |
S2 | 1.27 | -0.224 % | ||
S3 | 1.26 | -0.525 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 1.28 | 0.787 % | ||
Current price | 1.27 | |||
Support | S1 | 1.25 | -1.57% | |
S2 | 1.25 | -1.68% | ||
S3 | 1.24 | -2.30% |
FAQ
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