Kyber Network / US Dollar Cryptocurrency Forecast
Kyber Network / US Dollar cryptocurrency price down 0.181% on Saturday
(Updated on Apr 27, 2024)
The Kyber Network / US Dollar cryptocurrency price fell by -0.181% on the last day (Saturday, 27th Apr 2024) from $0.609 to $0.608. During the last trading day the cryptocurrency fluctuated 6.57% from a day low at $0.574 to a day high of $0.612. The price has fallen in 6 of the last 10 days but is still up by 6.06% over the past 2 weeks. Volume has increased on the last day by 10 million 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, 12 million shares were bought and sold for approximately $7.19 million.
The cryptocurrency lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.543 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 7.85% during the next 3 months and, with a 90% probability hold a price between $0.586 and $1.18 at the end of this 3-month period.
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KNCUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Sunday, April 14, 2024, and so far it has risen 14.37%. 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. The Kyber Network / US Dollar 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 $0.614 and $0.716. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely.
Support, Risk & Stop-loss for Kyber Network / US Dollar cryptocurrency
Kyber Network / US Dollar finds support from accumulated volume at $0.593 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 $0.0377 between high and low, or 6.57%. For the last week, the cryptocurrency has had daily average volatility of 5.57%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KNCUSD) For The Upcoming Trading Day Of Sunday 28th
For the upcoming trading day on Sunday, 28th we expect Kyber Network / US Dollar to open at $0.598, and during the day (based on 14 day Average True Range), to move between $0.550 and $0.666, which gives a possible trading interval of +/-$0.0581 (+/-9.55%) up or down from last closing price. If Kyber Network / US Dollar takes out the full calculated possible swing range there will be an estimated 19.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.593 (2.48%) than the resistance at $0.664 (9.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Kyber Network / US Dollar cryptocurrency A Buy?
The Kyber Network / US Dollar cryptocurrency holds several negative signals and despite the positive trend, we believe Kyber Network / US Dollar will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency.
Current score: -3.461 Sell Candidate Unchanged
Predicted Opening Price for Kyber Network / US Dollar of Sunday, April 28, 2024
| Fair opening price April 28, 2024 | Current price |
|---|---|
| $0.598 ( 1.67%) | $0.608 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KNCUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.636 | 4.53 % | |
| R2 | 0.621 | 2.16 % | ||
| R1 | 0.612 | 0.696 % | ||
| Current price: | 0.608 | |||
| Support | S1 | 0.584 | -4.04 % | |
| S2 | 0.575 | -5.50 % | ||
| S3 | 0.560 | -7.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.743 | 22.15 % | |
| R2 | 0.739 | 21.58 % | ||
| R1 | 0.664 | 9.18 % | ||
| Current price | 0.608 | |||
| Support | S1 | 0.593 | -2.48% | |
| S2 | 0.571 | -6.18% | ||
| S3 | 0.536 | -11.92% |
FAQ
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