New BitShares / US Dollar Cryptocurrency Forecast
Is New BitShares / US Dollar cryptocurrency still a buy after falling -8.24% on Friday?
(Updated on May 31, 2024)
The New BitShares / US Dollar cryptocurrency price fell by -8.24% on the last day (Friday, 31st May 2024) from $0.0002 to $0.0002. During the last trading day the cryptocurrency fluctuated 6.71% from a day low at $0.0001 to a day high of $0.0002. The price has been going up and down for this period, and there has been a 20.93% gain for the last 2 weeks. Volume fell on the last day along with the cryptocurrency, which is actually a good sign as volume should follow the cryptocurrency. On the last day, the trading volume fell by -18 thousand shares and in total, 67 thousand shares were bought and sold for approximately $10.39 .
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 -42.37% during the next 3 months and, with a 90% probability hold a price between $0.00005500 and $0.00009918 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
The New BitShares / US Dollar cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0001 and $0.0001. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, May 30, 2024, and so far it has fallen -8.24%. Further fall is indicated until a new bottom pivot has been found. 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 New BitShares / US Dollar 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, New BitShares / US Dollar 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 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 $0.00001 between high and low, or 6.71%. For the last week the cryptocurrency has had daily average volatility of 6.00%.
Our recommended stop-loss: $0.0001 (-4.75%) (This cryptocurrency has high daily movements and this gives high risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (NBSUSD) For The Upcoming Trading Day Of Saturday 1st
For the upcoming trading day on Saturday, 1st we expect New BitShares / US Dollar to open at $0.0002, 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 +/-$0.00001025 (+/-6.57%) 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 13.14% 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 (5.13%) than the support at $0.0001 (12.82%), 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 New BitShares / US Dollar cryptocurrency A Buy?
New BitShares / US Dollar holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.852 Hold/Accumulate Downgraded
Predicted Opening Price for New BitShares / US Dollar of Saturday, June 1, 2024
| Fair opening price June 1, 2024 | Current price |
|---|---|
| $0.0002 ( 0.85%) | $0.0002 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0002 | 5.56 % | |
| R2 | 0.0002 | 3.11 % | ||
| R1 | 0.0002 | 1.59 % | ||
| Current price: | 0.0002 | |||
| Support | S1 | 0.0002 | -3.30 % | |
| S2 | 0.0001 | -4.82 % | ||
| S3 | 0.0001 | -7.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0002 | 24.36 % | |
| R2 | 0.0002 | 23.08 % | ||
| R1 | 0.0002 | 5.13 % | ||
| Current price | 0.0002 | |||
| Support | S1 | 0.0001 | -12.82% | |
| S2 | 0.0001 | -14.10% | ||
| S3 | 0.0001 | -14.74% |
FAQ
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