NuCypher / US Dollar Cryptocurrency Forecast

NuCypher / US Dollar cryptocurrency upgraded from Hold/Accumulate to Buy Candidate after Saturday trading session.
(Updated on May 18, 2024)

NUUSD Signals & Forecast

The NuCypher / 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 $0.117 and $0.116. 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 Wednesday, March 27, 2024, and so far it has fallen -37.63%. 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. The cryptocurrency had a Golden Star Signal on Thursday, May 16, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the cryptocurrency in question.

Support, Risk & Stop-loss for NuCypher / US Dollar cryptocurrency

NuCypher / US Dollar finds support from accumulated volume at $0.117 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This cryptocurrency has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the cryptocurrency moved $0.0033 between high and low, or 2.70%. For the last week the cryptocurrency has had daily average volatility of 3.52%.

Our recommended stop-loss: $0.114 (-5.92%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 52 days ago.)

Trading Expectations (NUUSD) For The Upcoming Trading Day Of Sunday 19th

For the upcoming trading day on Sunday, 19th we expect NuCypher / US Dollar to open at $0.123, and during the day (based on 14 day Average True Range), to move between $0.115 and $0.128, which gives a possible trading interval of +/-$0.0064 (+/-5.29%) up or down from last closing price. If NuCypher / US Dollar takes out the full calculated possible swing range there will be an estimated 10.59% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.117 (3.76%) than the resistance at $0.144 (18.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is NuCypher / US Dollar cryptocurrency A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for NuCypher / US Dollar cryptocurrency to perform well in the short-term. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.551 Buy Candidate Upgraded

Predicted Opening Price for NuCypher / US Dollar of Sunday, May 19, 2024

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