Propchain USD Cryptocurrency Forecast
Stronger technical forecast for Propchain USD cryptocurrency price after Saturday trading.
(Updated on May 18, 2024)
The Propchain USD cryptocurrency price gained 1.67% on the last trading day (Saturday, 18th May 2024), rising from $2.97 to $3.02. During the last trading day the cryptocurrency fluctuated 4.98% from a day low at $2.98 to a day high of $3.13. The price has risen in 5 of the last 10 days and is up by 6.04% over the past 2 weeks. Volume fell on the last day by -135 thousand shares and in total, 1 million shares were bought and sold for approximately $3.72 million. 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 very 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 -6.18% during the next 3 months and, with a 90% probability hold a price between $1.95 and $4.58 at the end of this 3-month period.
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PROPCUSD Signals & Forecast
The Propchain 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 $2.70 and $2.97. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The cryptocurrency should be watched closely. 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 Thursday, March 28, 2024, and so far it has fallen -40.42%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Propchain USD cryptocurrency
Propchain USD finds support from accumulated volume at $3.01 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.149 between high and low, or 4.98%. For the last week, the cryptocurrency has had daily average volatility of 6.16%.
Our recommended stop-loss: $2.85 (-5.56%) (This cryptocurrency has high daily movements and this gives high risk. There is a sell signal from a pivot top found 51 days ago.)
Trading Expectations (PROPCUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect Propchain USD to open at $3.04, and during the day (based on 14 day Average True Range), to move between $2.79 and $3.24, which gives a possible trading interval of +/-$0.224 (+/-7.42%) up or down from last closing price. If Propchain USD takes out the full calculated possible swing range there will be an estimated 14.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.01 (0.19%) than the resistance at $3.53 (17.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Propchain 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 Hold/Accumulate to a Buy candidate.
Current score: 1.091 Buy Candidate Upgraded
Predicted Opening Price for Propchain USD of Sunday, May 19, 2024
| Fair opening price May 19, 2024 | Current price |
|---|---|
| $3.04 ( 0.94%) | $3.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PROPCUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.19 | 5.86 % | |
| R2 | 3.14 | 3.98 % | ||
| R1 | 3.10 | 2.82 % | ||
| Current price: | 3.02 | |||
| Support | S1 | 2.99 | -0.95 % | |
| S2 | 2.95 | -2.11 % | ||
| S3 | 2.90 | -3.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.77 | 24.93 % | |
| R2 | 3.67 | 21.70 % | ||
| R1 | 3.53 | 17.11 % | ||
| Current price | 3.02 | |||
| Support | S1 | 3.01 | -0.193% | |
| S2 | 2.98 | -1.25% | ||
| S3 | 2.83 | -6.11% |
FAQ
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