Groestlcoin Cryptocurrency Forecast
Groestlcoin cryptocurrency upgraded from Sell Candidate to Buy Candidate after Monday trading session.
(Updated on May 20, 2024)
The Groestlcoin cryptocurrency price gained 1.54% on the last trading day (Monday, 20th May 2024), rising from $0.550 to $0.558. During the last trading day the cryptocurrency fluctuated 3.72% from a day low at $0.538 to a day high of $0.558. The price has risen in 6 of the last 10 days and is up by 5.01% over the past 2 weeks. Volume fell on the last day by -9 million shares and in total, 2 million shares were bought and sold for approximately $1.02 million. 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 middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to fall -17.51% during the next 3 months and, with a 90% probability hold a price between $0.397 and $0.573 at the end of this 3-month period.
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GRSUSD Signals & Forecast
The Groestlcoin cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the cryptocurrency has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.546 and $0.550. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 8.85%. Further rise is indicated until a new top pivot has been found. 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. 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 also not.
Support, Risk & Stop-loss for Groestlcoin cryptocurrency
Groestlcoin finds support from accumulated volume at $0.558 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the cryptocurrency moved $0.0200 between high and low, or 3.72%. For the last week the cryptocurrency has had daily average volatility of 3.34%.
Our recommended stop-loss: $0.539 (-3.48%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 60 days ago.)
Trading Expectations (GRSUSD) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Groestlcoin to open at $0.551, and during the day (based on 14 day Average True Range), to move between $0.534 and $0.582, which gives a possible trading interval of +/-$0.0237 (+/-4.25%) up or down from last closing price. If Groestlcoin takes out the full calculated possible swing range there will be an estimated 8.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.558 (0.02%) than the resistance at $0.683 (22.31%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Groestlcoin cryptocurrency A Buy?
Several short-term signals are positive, despite the cryptocurrency being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for cryptocurrency to perform well in the short-term. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Buy candidate.
Current score: 1.654 Buy Candidate Upgraded
Predicted Opening Price for Groestlcoin of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $0.551 ( 1.20%) | $0.558 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRSUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.571 | 2.39 % | |
| R2 | 0.564 | 1.02 % | ||
| R1 | 0.559 | 0.175 % | ||
| Current price: | 0.558 | |||
| Support | S1 | 0.544 | -2.57 % | |
| S2 | 0.539 | -3.41 % | ||
| S3 | 0.531 | -4.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.688 | 23.31 % | |
| R2 | 0.683 | 22.45 % | ||
| R1 | 0.683 | 22.31 % | ||
| Current price | 0.558 | |||
| Support | S1 | 0.558 | -0.0215% | |
| S2 | 0.550 | -1.52% | ||
| S3 | 0.545 | -2.40% |
FAQ
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