GridCoin Cryptocurrency Forecast

GridCoin cryptocurrency price took a fall of -9.05% on Wednesday
(Updated on May 29, 2024)

GRCUSD Signals & Forecast

There are few to no technical positive signals at the moment. The GridCoin cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0053 and $0.0056. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -32.95%. 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 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.

Support, Risk & Stop-loss for GridCoin cryptocurrency

GridCoin finds support from accumulated volume at $0.0047 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 much during the day (volatility) and with periodic low trading volume this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0000113 between high and low, or 0.238%. For the last week the cryptocurrency has had daily average volatility of 5.51%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (GRCUSD) For The Upcoming Trading Day Of Thursday 30th

For the upcoming trading day on Thursday, 30th we expect GridCoin to open at $0.0048, and during the day (based on 14 day Average True Range), to move between $0.0041 and $0.0054, which gives a possible trading interval of +/-$0.0007 (+/-13.67%) up or down from last closing price. If GridCoin takes out the full calculated possible swing range there will be an estimated 27.35% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0047 (0.36%) than the resistance at $0.0049 (3.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is GridCoin cryptocurrency A Buy?

GridCoin holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this cryptocurrency.

Current score: -4.061 Sell Candidate Unchanged

Predicted Opening Price for GridCoin of Thursday, May 30, 2024

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