Paxos Standard / US Dollar Cryptocurrency Forecast
Paxos Standard / US Dollar cryptocurrency upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Apr 26, 2024)
The Paxos Standard / US Dollar cryptocurrency price gained 0.180% on the last trading day (Friday, 26th Apr 2024), rising from $1.00 to $1.00. During the last trading day the cryptocurrency fluctuated 6.43% from a day low at $1.00 to a day high of $1.06. The price has been going up and down for this period, and there has been a -0.16% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 359 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $2.44 million.
The cryptocurrencyis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $1.00 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Paxos Standard / US Dollar cryptocurrency with a 90% probability to be traded between $0.93 and $1.01 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
The Paxos Standard / 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 $1.00 and $0.99. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 16, 2024, and so far it has fallen -0.159%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The cryptocurrency had a Golden Star Signal on Monday, March 11, 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, March 11, 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, March 11, 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 $0.0640 between high and low, or 6.43%. For the last week the cryptocurrency has had daily average volatility of 5.24%.
Our recommended stop-loss: $0.96 (-3.81%) (This cryptocurrency has low daily movements and this gives low risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (PAXUSD) For The Upcoming Trading Day Of Saturday 27th
For the upcoming trading day on Saturday, 27th 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 -$22.53 and $24.54, which gives a possible trading interval of +/-$23.53 (+/-2 345.94%) 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 4 691.88% 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 (0.16%) than the support at $1.00 (0.38%), 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?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Paxos Standard / US Dollar cryptocurrency to perform well in the short-term period. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.618 Buy Candidate Upgraded
Predicted Opening Price for Paxos Standard / US Dollar of Saturday, April 27, 2024
| Fair opening price April 27, 2024 | Current price |
|---|---|
| $1.02 ( 1.65%) | $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 | |||
|---|---|---|---|---|
| Resistance | R3 | 1.08 | 8.04 % | |
| R2 | 1.06 | 5.60 % | ||
| R1 | 1.04 | 4.09 % | ||
| Current price: | 1.00 | |||
| Support | S1 | 1.00 | -0.782 % | |
| S2 | 0.98 | -2.29 % | ||
| S3 | 0.96 | -4.73 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 1.00 | 0.160 % | ||
| Current price | 1.00 | |||
| Support | S1 | 1.00 | -0.382% | |
| S2 | 0.99 | -1.59% | ||
| S3 | 0.94 | -6.28% |
FAQ
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