Paralink Network USD Cryptocurrency Forecast

Big movements in Paralink Network USD cryptocurrency price on Saturday moving 24.65% between high and low
(Updated on Jun 01, 2024)

PARAUSD Signals & Forecast

The Paralink Network USD 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 $0.0010 and $0.0009. 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). Paralink Network USD 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. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -46.83%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Paralink Network USD cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0011 and $0.0011. 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, Paralink Network USD finds support just below today's level at $0.0011. If this is broken, then the next support from accumulated volume will be at $0.0011 and $0.0010.

This cryptocurrency may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0002 between high and low, or 24.65%. For the last week, the cryptocurrency has had daily average volatility of 10.97%.

Our recommended stop-loss: $0.0012 (-5.52%) (This cryptocurrency has high daily movements and this gives high risk. There is a sell signal from a pivot top found 60 days ago.)

Trading Expectations (PARAUSD) For The Upcoming Trading Day Of Sunday 2nd

For the upcoming trading day on Sunday, 2nd we expect Paralink Network USD to open at $0.0012, and during the day (based on 14 day Average True Range), to move between $0.0011 and $0.0014, which gives a possible trading interval of +/-$0.0001 (+/-9.67%) up or down from last closing price. If Paralink Network USD takes out the full calculated possible swing range there will be an estimated 19.34% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $0.0011, some $0.0001 (11.45%) from the current price of $0.0012, our system finds the risk reward attractive.

Is Paralink Network USD cryptocurrency A Buy?

Paralink Network USD holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 6.482 Strong Buy Candidate Upgraded

Predicted Opening Price for Paralink Network USD of Sunday, June 2, 2024

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