Golem / US Dollar Cryptocurrency Forecast

Red day on Thursday for Golem / US Dollar
(Updated on May 09, 2024)

GLMUSD Signals & Forecast

The Golem / US Dollar 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 $0.553. On a fall, the cryptocurrency will find some support from the long-term average at approximately $0.470. 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). 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 Sunday, March 03, 2024, and so far it has fallen -25.56%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Golem / US Dollar cryptocurrency

Golem / US Dollar finds support from accumulated volume at $0.531 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 $0.0421 between high and low, or 7.76%. For the last week, the cryptocurrency has had daily average volatility of 13.77%.

Our recommended stop-loss: $0.514 (-5.66%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 67 days ago.)

Trading Expectations (GLMUSD) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Golem / US Dollar to open at $0.557, and during the day (based on 14 day Average True Range), to move between $0.474 and $0.615, which gives a possible trading interval of +/-$0.0703 (+/-12.91%) up or down from last closing price. If Golem / US Dollar takes out the full calculated possible swing range there will be an estimated 25.82% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.531 (2.44%) than the resistance at $0.576 (5.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Golem / US Dollar 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 Golem / US Dollar cryptocurrency to perform well in the short-term.

Current score: 2.880 Buy Candidate Unchanged

Predicted Opening Price for Golem / US Dollar of Friday, May 10, 2024

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