ProBit Token USD Cryptocurrency Forecast
ProBit Token USD cryptocurrency upgraded from Sell Candidate to Buy Candidate after Monday trading session.
(Updated on May 20, 2024)
The ProBit Token USD cryptocurrency price gained 2.00% on the last trading day (Monday, 20th May 2024), rising from $0.0988 to $0.101. During the last trading day the cryptocurrency fluctuated 5.73% from a day low at $0.0973 to a day high of $0.103. The price has risen in 5 of the last 10 days and is up by 0.27% over the past 2 weeks. Volume fell on the last day by -396 thousand shares and in total, 13 thousand shares were bought and sold for approximately $1.27 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 middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to fall -2.20% during the next 3 months and, with a 90% probability hold a price between $0.0920 and $0.108 at the end of this 3-month period.
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PROBUSD Signals & Forecast
The ProBit Token USD cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the cryptocurrency has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0999 and $0.101. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Sunday, April 14, 2024, and so far it has risen 5.92%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for ProBit Token USD cryptocurrency
ProBit Token USD finds support from accumulated volume at $0.100 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the cryptocurrency During the last day, the cryptocurrency moved $0.0056 between high and low, or 5.73%. For the last week the cryptocurrency has had daily average volatility of 3.23%
Our recommended stop-loss: $0.0971 (-3.64%) (This cryptocurrency has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 56 days ago.)
Trading Expectations (PROBUSD) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect ProBit Token USD to open at $0.100, and during the day (based on 14 day Average True Range), to move between $0.0968 and $0.105, which gives a possible trading interval of +/-$0.0039 (+/-3.91%) up or down from last closing price. If ProBit Token USD takes out the full calculated possible swing range there will be an estimated 7.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.101 (0.14%) than the support at $0.100 (0.44%), 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 ProBit Token USD cryptocurrency A Buy?
Several short-term signals are positive, despite the cryptocurrency being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for cryptocurrency to perform well in the short-term. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Buy candidate.
Current score: 1.362 Buy Candidate Upgraded
Predicted Opening Price for ProBit Token USD of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $0.100 ( 0.403%) | $0.101 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PROBUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.106 | 5.13 % | |
| R2 | 0.104 | 3.02 % | ||
| R1 | 0.102 | 1.71 % | ||
| Current price: | 0.101 | |||
| Support | S1 | 0.0982 | -2.52 % | |
| S2 | 0.0969 | -3.83 % | ||
| S3 | 0.0948 | -5.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.104 | 3.04 % | |
| R2 | 0.102 | 0.774 % | ||
| R1 | 0.101 | 0.139 % | ||
| Current price | 0.101 | |||
| Support | S1 | 0.100 | -0.437% | |
| S2 | 0.0988 | -1.96% | ||
| S3 | 0.0971 | -3.63% |
FAQ
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