Proteo DeFi USD Cryptocurrency Forecast
Proteo DeFi USD cryptocurrency upgraded from Hold/Accumulate to Buy Candidate after Monday trading session.
(Updated on May 20, 2024)
The Proteo DeFi USD cryptocurrency price fell by -0.247% on the last day (Monday, 20th May 2024) from $0.186 to $0.186. During the last trading day the cryptocurrency fluctuated 2.36% from a day low at $0.182 to a day high of $0.186. The price has fallen in 6 of the last 10 days and is down by -4.29% for this period. 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 -60 thousand shares and in total, 130 thousand shares were bought and sold for approximately $24.15 thousand.
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 -42.30% during the next 3 months and, with a 90% probability hold a price between $0.0498 and $0.150 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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PROTEOUSD Signals & Forecast
The Proteo DeFi USD 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 $0.185 and $0.182. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 16.81%. 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 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 Proteo DeFi USD cryptocurrency
Proteo DeFi USD finds support from accumulated volume at $0.179 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 $0.0043 between high and low, or 2.36%. For the last week the cryptocurrency has had daily average volatility of 2.44%.
Our recommended stop-loss: $0.178 (-4.04%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 68 days ago.)
Trading Expectations (PROTEOUSD) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Proteo DeFi USD to open at $0.185, and during the day (based on 14 day Average True Range), to move between $0.178 and $0.194, which gives a possible trading interval of +/-$0.0080 (+/-4.32%) up or down from last closing price. If Proteo DeFi USD takes out the full calculated possible swing range there will be an estimated 8.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.179 (3.43%) than the resistance at $0.195 (4.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Proteo DeFi 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: 1.108 Buy Candidate Upgraded
Predicted Opening Price for Proteo DeFi USD of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $0.185 ( 0.592%) | $0.186 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PROTEOUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.189 | 1.72 % | |
| R2 | 0.187 | 0.84 % | ||
| R1 | 0.186 | 0.292 % | ||
| Current price: | 0.186 | |||
| Support | S1 | 0.183 | -1.48 % | |
| S2 | 0.182 | -2.02 % | ||
| S3 | 0.180 | -2.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.200 | 7.75 % | |
| R2 | 0.197 | 6.05 % | ||
| R1 | 0.195 | 4.96 % | ||
| Current price | 0.186 | |||
| Support | S1 | 0.179 | -3.43% | |
| S2 | 0.175 | -5.65% | ||
| S3 | 0.168 | -9.84% |
FAQ
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