ChainPort USD Cryptocurrency Forecast
ChainPort USD cryptocurrency price ended at $0.0052 on Friday, after losing 1.63%.
(Updated on May 31, 2024)
The ChainPort USD cryptocurrency price fell by -1.63% on the last day (Friday, 31st May 2024) from $0.0053 to $0.0052. During the last trading day the cryptocurrency fluctuated 3.26% from a day low at $0.0052 to a day high of $0.0053. The price has fallen in 5 of the last 10 days but is still up by 0.52% over the past 2 weeks. Volume has increased on the last day by 3 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, 17 thousand shares were bought and sold for approximately $85.84 .
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 $0.0046 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -45.79% during the next 3 months and, with a 90% probability hold a price between $0.0025 and $0.0043 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PORTXUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 0.641%. 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 ChainPort USD cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0053 and $0.0057. A break-up above any of these levels will issue buy signals. ChainPort USD 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 ChainPort USD cryptocurrency
ChainPort USD finds support from accumulated volume at $0.0052 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 and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.0002 between high and low, or 3.26%. For the last week, the cryptocurrency has had daily average volatility of 3.52%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PORTXUSD) For The Upcoming Trading Day Of Saturday 1st
For the upcoming trading day on Saturday, 1st we expect ChainPort USD to open at $0.0052, and during the day (based on 14 day Average True Range), to move between $0.0049 and $0.0055, which gives a possible trading interval of +/-$0.0003 (+/-5.49%) up or down from last closing price. If ChainPort USD takes out the full calculated possible swing range there will be an estimated 10.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0052 (0.52%) than the resistance at $0.0054 (4.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ChainPort USD cryptocurrency A Buy?
ChainPort USD 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.
Current score: -3.296 Sell Candidate Unchanged
Predicted Opening Price for ChainPort USD of Saturday, June 1, 2024
| Fair opening price June 1, 2024 | Current price |
|---|---|
| $0.0052 ( 0.88%) | $0.0052 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PORTXUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0054 | 4.14 % | |
| R2 | 0.0053 | 2.90 % | ||
| R1 | 0.0053 | 2.13 % | ||
| Current price: | 0.0052 | |||
| Support | S1 | 0.0052 | -0.359 % | |
| S2 | 0.0051 | -1.13 % | ||
| S3 | 0.0051 | -2.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0057 | 9.26 % | |
| R2 | 0.0057 | 9.12 % | ||
| R1 | 0.0054 | 4.32 % | ||
| Current price | 0.0052 | |||
| Support | S1 | 0.0052 | -0.521% | |
| S2 | 0.0052 | -0.637% | ||
| S3 | 0 | . |
FAQ
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