Polymath / US Dollar Cryptocurrency Forecast
High volatility in Polymath / US Dollar cryptocurrency price on Tuesday which ended trading at $0.0816
(Updated on Jul 02, 2024)
The Polymath / US Dollar cryptocurrency price fell by -20.77% on the last day (Tuesday, 2nd Jul 2024) from $0.103 to $0.0816. During the last trading day the cryptocurrency fluctuated 51.86% from a day low at $0.0739 to a day high of $0.112. The price has fallen in 6 of the last 10 days and is down by -21.84% for this period. Volume has increased on the last day by 18 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, 25 thousand shares were bought and sold for approximately $2.04 thousand.
The cryptocurrency is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Polymath / US Dollar cryptocurrency with a 90% probability to be traded between $0.0671 and $0.121 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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POLYUSD Signals & Forecast
There are few to no technical positive signals at the moment. The Polymath / 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 $0.104 and $0.0943. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Sunday, June 30, 2024, and so far it has fallen -34.12%. 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). Polymath / US Dollar gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Polymath / US Dollar cryptocurrency
Polymath / US Dollar finds support from accumulated volume at $0.0812 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0384 between high and low, or 51.86%. For the last week, the cryptocurrency has had daily average volatility of 36.87%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (POLYUSD) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Polymath / US Dollar to open at $0.0893, and during the day (based on 14 day Average True Range), to move between $0.0521 and $0.111, which gives a possible trading interval of +/-$0.0295 (+/-36.15%) up or down from last closing price. If Polymath / US Dollar takes out the full calculated possible swing range there will be an estimated 72.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0818 (0.24%) than the support at $0.0812 (0.48%), 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 Polymath / US Dollar cryptocurrency A Buy?
Polymath / US Dollar holds several negative signals and is within a very 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 Hold/Accumulate to a Strong Sell candidate.
Current score: -5.981 Strong Sell Candidate Downgraded
Predicted Opening Price for Polymath / US Dollar of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$0.0893 ( 9.45%) | $0.0816 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for POLYUSD
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.128 | 56.47% |
R2 | 0.113 | 38.51% |
R1 | 0.104 | 27.41% |
Price | 0.0816 | |
S1 | 0.0746 | -8.51% |
S2 | 0.0656 | -19.61% |
S3 | 0.0509 | -37.57% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0899 | 10.19% |
R2 | 0.0863 | 5.76% |
R1 | 0.0818 | 0.243% |
Price | 0.0816 | |
S1 | 0.0812 | -0.479% |
S2 | 0.0710 | -12.92% |
S3 | 0.0708 | -13.24% |
FAQ
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