Paxos Standard / US Dollar Cryptocurrency Forecast
Weaker technical forecast for Paxos Standard / US Dollar as cryptocurrency downgraded to Sell Candidate.
(Updated on Jul 02, 2024)
The Paxos Standard / US Dollar cryptocurrency price fell by -0.213% on the last day (Tuesday, 2nd Jul 2024) from $1.00 to $1.00. During the last trading day the cryptocurrency fluctuated 5.28% from a day low at $1.00 to a day high of $1.05. The price has fallen in 6 of the last 10 days but is still up by 0.24% over the past 2 weeks. Volume has increased on the last day by 381 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 6 million shares were bought and sold for approximately $5.72 million.
The cryptocurrency is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Paxos Standard / US Dollar cryptocurrency with a 90% probability to be traded between $0.95 and $1.05 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and cryptocurrencies seldom manage to go directly from the bottom of a trend up to the top. Cryptocurrencies turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PAXUSD Signals & Forecast
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. The Paxos Standard / US Dollar cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $1.00 and $1.00. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -3.84%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely. The cryptocurrency had a Golden Star Signal on Monday, June 24, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Monday, March 11, 2024.
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.
Golden Star
The cryptocurrency had a Golden Star Signal on Monday, June 24, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Monday, March 11, 2024.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.
Golden Star 12 Months
The cryptocurrency had a Golden Star Signal on Monday, June 24, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Monday, March 11, 2024.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 Paxos Standard / US Dollar cryptocurrency
Paxos Standard / US Dollar finds support from accumulated volume at $1.00 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 with good liquidity the risk is considered very low in this stock. During the last day, the cryptocurrency moved $0.0527 between high and low, or 5.28%. For the last week the cryptocurrency has had daily average volatility of 3.32%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PAXUSD) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Paxos Standard / US Dollar to open at $1.02, and during the day (based on 14 day Average True Range), to move between $0.780 and $1.22, which gives a possible trading interval of +/-$0.220 (+/-22.01%) up or down from last closing price. If Paxos Standard / US Dollar takes out the full calculated possible swing range there will be an estimated 44.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.00 (0.03%) than the support at $1.00 (0.06%), 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 Paxos Standard / US Dollar cryptocurrency A Buy?
Paxos Standard / US Dollar holds several negative signals and is within a 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 Buy to a Sell candidate.
Current score: -1.460 Sell Candidate Downgraded
Predicted Opening Price for Paxos Standard / US Dollar of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$1.02 ( 1.58%) | $1.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PAXUSD
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1.07 | 6.85% |
R2 | 1.05 | 4.84% |
R1 | 1.04 | 3.60% |
Price | 1.00 | |
S1 | 1.00 | -0.430% |
S2 | 0.98 | -1.67% |
S3 | 0.96 | -3.69% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1.00 | 0.480% |
R2 | 1.00 | 0.0400% |
R1 | 1.00 | 0.0300% |
Price | 1.00 | |
S1 | 1.00 | -0.0600% |
S2 | 1.00 | -0.0700% |
S3 | 1.00 | -0.0900% |
FAQ
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