GAMETREE USD Cryptocurrency Forecast
High volatility in GAMETREE USD cryptocurrency price on Thursday which ended trading at $0.0001
(Updated on Jun 27, 2024)
The GAMETREE USD cryptocurrency price fell by -7.74% on the last day (Thursday, 27th Jun 2024) from $0.0002 to $0.0001. During the last trading day the cryptocurrency fluctuated 10.71% from a day low at $0.0001 to a day high of $0.0002. The price has fallen in 5 of the last 10 days but is still up by 6.72% over the past 2 weeks. Volume has increased on the last day by 77 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 77 thousand shares were bought and sold for approximately $10.99 .
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 -60.74% during the next 3 months and, with a 90% probability hold a price between $0.00003031 and $0.00007516 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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GTCOINUSD Signals & Forecast
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. The GAMETREE USD 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 $0.0002 and $0.0002. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -7.74%. Further fall is indicated until a new bottom pivot has been found. GAMETREE USD gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Sunday, June 23, 2024 and based on theory for this formation the price should go up by 73.43% to $0.0002 within 3 trading days since signal was issued (Wednesday, June 26, 2024).
Support, Risk & Stop-loss for GAMETREE USD cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0001 and $0.0001. 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, GAMETREE USD finds support just below today's level at $0.0001. If this is broken, then the next support from accumulated volume will be at $0.0001 and $0.0001.
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 $0.000015 between high and low, or 10.71%. For the last week, the cryptocurrency has had daily average volatility of 33.50%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GTCOINUSD) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect GAMETREE USD to open at $0.0001, and during the day (based on 14 day Average True Range), to move between $0.0001 and $0.0002, which gives a possible trading interval of +/-$0.00003217 (+/-22.50%) up or down from last closing price. If GAMETREE USD takes out the full calculated possible swing range there will be an estimated 45.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0002 (5.59%) than the support at $0.0001 (6.29%), 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 GAMETREE USD cryptocurrency A Buy?
GAMETREE USD 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -6.144 Strong Sell Candidate Downgraded
Predicted Opening Price for GAMETREE USD of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $0.0001 ( 2.10%) | $0.0001 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GTCOINUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0002 | 12.59% |
| R2 | 0.0002 | 8.58% |
| R1 | 0.0002 | 6.10% |
| Price | 0.0001 | |
| S1 | 0.0001 | -1.91% |
| S2 | 0.0001 | -4.38% |
| S3 | 0.0001 | -8.39% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0.0002 | 8.39% |
| R1 | 0.0002 | 5.59% |
| Price | 0.0001 | |
| S1 | 0.0001 | -6.29% |
| S2 | 0.0001 | -7.69% |
| S3 | 0.0001 | -16.08% |
FAQ
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