New BitShares / US Dollar Cryptocurrency Forecast
New BitShares / US Dollar cryptocurrency price up more than 5.19% on Tuesday
(Updated on Jul 02, 2024)
The New BitShares / US Dollar cryptocurrency price gained 5.19% on the last trading day (Tuesday, 2nd Jul 2024), rising from $0.000077 to $0.000081. During the last trading day the cryptocurrency fluctuated 7.89% from a day low at $0.000076 to a day high of $0.000082. The price has risen in 6 of the last 10 days and is up by 24.62% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 thousand more shares were traded than the day before. In total, 41 thousand shares were bought and sold for approximately $3.33 .
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 -50.22% during the next 3 months and, with a 90% probability hold a price between $0.00002544 and $0.00006178 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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NBSUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Saturday, June 22, 2024, and so far it has risen 24.62%. 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). New BitShares / US Dollar has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The New BitShares / US Dollar cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $0.0001. On a fall, the cryptocurrency will find some support from the short-term average at $0.00007143. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for New BitShares / US Dollar cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.000073 and $0.000066. 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, New BitShares / US Dollar finds support just below today's level at $0.000073. If this is broken, then the next support from accumulated volume will be at $0.000066 and $0.000065.
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 $0.000006 between high and low, or 7.89%. For the last week, the cryptocurrency has had daily average volatility of 4.48%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NBSUSD) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect New BitShares / US Dollar to open at $0.00007967, and during the day (based on 14 day Average True Range), to move between $0.00007414 and $0.00008786, which gives a possible trading interval of +/-$0.00000686 (+/-8.47%) up or down from last closing price. If New BitShares / US Dollar takes out the full calculated possible swing range there will be an estimated 16.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.000073 (9.88%) than the resistance at $0.000092 (13.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is New BitShares / US Dollar cryptocurrency A Buy?
New BitShares / US Dollar holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency.
Current score: -2.398 Sell Candidate Unchanged
Predicted Opening Price for New BitShares / US Dollar of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.00007967 ( 1.65%) | $0.000081 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NBSUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.00008567 | 5.76% |
| R2 | 0.00008337 | 2.93% |
| R1 | 0.00008196 | 1.18% |
| Price | 0.000081 | |
| S1 | 0.00007737 | -4.48% |
| S2 | 0.00007596 | -6.22% |
| S3 | 0.00007367 | -9.05% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0001 | 23.46% |
| R2 | 0.000098 | 20.99% |
| R1 | 0.000092 | 13.58% |
| Price | 0.000081 | |
| S1 | 0.000073 | -9.88% |
| S2 | 0.000066 | -18.52% |
| S3 | 0.000065 | -19.75% |
FAQ
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