NFTrade USD Cryptocurrency Forecast

Evaluation of NFTrade USD cryptocurrency downgraded after the last trading session.
(Updated on May 16, 2024)

NFTDUSD Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has risen 1.49%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NFTrade 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 $0.0095 and $0.0097. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for NFTrade USD cryptocurrency

NFTrade USD finds support from accumulated volume at $0.0094 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the cryptocurrency tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the cryptocurrency During the last day, the cryptocurrency moved $0 between high and low, or 0%. For the last week the cryptocurrency has had daily average volatility of 2.25%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (NFTDUSD) For The Upcoming Trading Day Of Friday 17th

For the upcoming trading day on Friday, 17th we expect NFTrade USD to open at $0.0094, and during the day (based on 14 day Average True Range), to move between $0.0092 and $0.0097, which gives a possible trading interval of +/-$0.0003 (+/-2.68%) up or down from last closing price. If NFTrade USD takes out the full calculated possible swing range there will be an estimated 5.37% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0094 (0.93%) than the resistance at $0.0098 (3.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is NFTrade USD cryptocurrency A Buy?

NFTrade 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 Hold/Accumulate to a Sell candidate.

Current score: -2.980 Sell Candidate Downgraded

Predicted Opening Price for NFTrade USD of Friday, May 17, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.