Graviocoin / US Dollar Cryptocurrency Forecast
Red day on Friday for Graviocoin / US Dollar cryptocurrency after losing 3.76%
(Updated on May 17, 2024)
The Graviocoin / US Dollar cryptocurrency price fell by -3.76% on the last day (Friday, 17th May 2024) from $0.0125 to $0.0120. During the last trading day the cryptocurrency fluctuated 6.69% from a day low at $0.0119 to a day high of $0.0126. The price has risen in 5 of the last 10 days and is up by 6.12% over the past 2 weeks.
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0068 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -8.29% during the next 3 months and, with a 90% probability hold a price between $0.0062 and $0.0649 at the end of this 3-month period.
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GIOUSD Signals & Forecast
The Graviocoin / US Dollar 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 $0.0115 and $0.0115. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -3.76%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this cryptocurrency may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Saturday, March 02, 2024 with a target of $0.0143. Despite whether the objective of the signal formation has been reached the cryptocurrency may continue to fall.
Support, Risk & Stop-loss for Graviocoin / US Dollar cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0113 and $0.0110. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, Graviocoin / US Dollar finds support just below today's level at $0.0113. If this is broken, then the next support from accumulated volume will be at $0.0110 and $0.0107.
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 $0.0008 between high and low, or 6.69%. For the last week the cryptocurrency has had daily average volatility of 5.21%
Our recommended stop-loss: $0.0114 (-5.41%) (This cryptocurrency has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (GIOUSD) For The Upcoming Trading Day Of Saturday 18th
For the upcoming trading day on Saturday, 18th we expect Graviocoin / US Dollar to open at $0.0122, and during the day (based on 14 day Average True Range), to move between $0.0055 and $0.0185, which gives a possible trading interval of +/-$0.0065 (+/-53.95%) up or down from last closing price. If Graviocoin / US Dollar takes out the full calculated possible swing range there will be an estimated 107.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0122 (1.29%) than the support at $0.0113 (6.37%), 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 Graviocoin / US Dollar cryptocurrency A Buy?
Graviocoin / 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Graviocoin / US Dollar of Saturday, May 18, 2024
| Fair opening price May 18, 2024 | Current price |
|---|---|
| $0.0122 ( 1.12%) | $0.0120 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GIOUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0130 | 7.70 % | |
| R2 | 0.0127 | 5.19 % | ||
| R1 | 0.0125 | 3.63 % | ||
| Current price: | 0.0120 | |||
| Support | S1 | 0.0119 | -1.39 % | |
| S2 | 0.0117 | -2.95 % | ||
| S3 | 0.0114 | -5.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0148 | 22.97 % | |
| R2 | 0.0142 | 18.08 % | ||
| R1 | 0.0122 | 1.29 % | ||
| Current price | 0.0120 | |||
| Support | S1 | 0.0113 | -6.37% | |
| S2 | 0.0110 | -8.64% | ||
| S3 | 0.0107 | -11.39% |
FAQ
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