Pluton / US Dollar Cryptocurrency Forecast
Weaker technical forecast for Pluton / US Dollar as cryptocurrency downgraded to Sell Candidate.
(Updated on May 12, 2024)
The Pluton / US Dollar cryptocurrency price gained 0.0910% on the last trading day (Sunday, 12th May 2024), rising from $4.43 to $4.43. During the last trading day the cryptocurrency fluctuated 1.57% from a day low at $4.40 to a day high of $4.47. The price has risen in 7 of the last 10 days and is up by 7.93% over the past 2 weeks. Volume fell on the last day by -73 thousand shares and in total, 205 thousand shares were bought and sold for approximately $909.28 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.95 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -10.66% during the next 3 months and, with a 90% probability hold a price between $3.53 and $5.75 at the end of this 3-month period.
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PLUUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 9.39%. Further rise is indicated until a new top pivot has been found. 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 Pluton / US Dollar cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $4.67. On a fall, the cryptocurrency will find some support from the short-term average at $4.42. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Pluton / US Dollar cryptocurrency
Pluton / US Dollar finds support from accumulated volume at $4.42 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 $0.0691 between high and low, or 1.57%. For the last week the cryptocurrency has had daily average volatility of 2.99%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PLUUSD) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Pluton / US Dollar to open at $4.43, and during the day (based on 14 day Average True Range), to move between $4.19 and $4.68, which gives a possible trading interval of +/-$0.248 (+/-5.60%) up or down from last closing price. If Pluton / US Dollar takes out the full calculated possible swing range there will be an estimated 11.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.42 (0.30%) than the resistance at $4.89 (10.25%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Pluton / US Dollar cryptocurrency A Buy?
Pluton / US Dollar holds several negative signals and we believe that 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: -2.097 Sell Candidate Downgraded
Predicted Opening Price for Pluton / US Dollar of Monday, May 13, 2024
Fair opening price May 13, 2024 | Current price |
---|---|
$4.43 ( 0.0537%) | $4.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PLUUSD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.50 | 1.50 % | |
R2 | 4.47 | 0.91 % | ||
R1 | 4.46 | 0.542 % | ||
Current price: | 4.43 | |||
Support | S1 | 4.41 | -0.649 % | |
S2 | 4.39 | -1.02 % | ||
S3 | 4.36 | -1.61 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.26 | 18.69 % | |
R2 | 5.23 | 18.01 % | ||
R1 | 4.89 | 10.25 % | ||
Current price | 4.43 | |||
Support | S1 | 4.42 | -0.299% | |
S2 | 4.39 | -0.96% | ||
S3 | 4.36 | -1.56% |
FAQ
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