Peercoin Cryptocurrency Forecast
Peercoin cryptocurrency price ended at $0.569 on Tuesday, after losing 1.04%.
(Updated on Apr 30, 2024)
The Peercoin cryptocurrency price fell by -1.04% on the last day (Tuesday, 30th Apr 2024) from $0.575 to $0.569. During the last trading day the cryptocurrency fluctuated 4.07% from a day low at $0.555 to a day high of $0.577. The price has been going up and down for this period, and there has been a 1.07% gain for the last 2 weeks. Volume fell on the last day along with the cryptocurrency, which is actually a good sign as volume should follow the cryptocurrency. On the last day, the trading volume fell by -14 thousand shares and in total, 36 thousand shares were bought and sold for approximately $20.64 thousand.
The cryptocurrency lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to rise 72.16% during the next 3 months and, with a 90% probability hold a price between $0.85 and $1.14 at the end of this 3-month period.
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PPCUSD Signals & Forecast
The Peercoin 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 $0.559 and $0.533. A breakdown below any of these levels will issue sell signals. 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 Wednesday, April 10, 2024, and so far it has fallen -4.89%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this cryptocurrency may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Peercoin cryptocurrency
Peercoin finds support from accumulated volume at $0.553 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 $0.0226 between high and low, or 4.07%. For the last week the cryptocurrency has had daily average volatility of 4.24%.
Our recommended stop-loss: $0.547 (-3.88%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (PPCUSD) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Peercoin to open at $0.567, and during the day (based on 14 day Average True Range), to move between $0.535 and $0.603, which gives a possible trading interval of +/-$0.0340 (+/-5.97%) up or down from last closing price. If Peercoin takes out the full calculated possible swing range there will be an estimated 11.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.575 (1.17%) than the support at $0.553 (2.80%), 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 Peercoin cryptocurrency A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Peercoin cryptocurrency to perform well in the short-term.
Current score: 1.055 Buy Candidate Unchanged
Predicted Opening Price for Peercoin of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $0.567 ( 0.304%) | $0.569 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PPCUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.590 | 3.66 % | |
| R2 | 0.581 | 2.15 % | ||
| R1 | 0.576 | 1.21 % | ||
| Current price: | 0.569 | |||
| Support | S1 | 0.558 | -1.82 % | |
| S2 | 0.553 | -2.76 % | ||
| S3 | 0.544 | -4.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.598 | 5.14 % | |
| R2 | 0.594 | 4.49 % | ||
| R1 | 0.575 | 1.17 % | ||
| Current price | 0.569 | |||
| Support | S1 | 0.553 | -2.80% | |
| S2 | 0.536 | -5.70% | ||
| S3 | 0.484 | -14.82% |
FAQ
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