Phoenixcoin Cryptocurrency Forecast
Red day on Saturday for Phoenixcoin cryptocurrency after losing 0.137%
(Updated on May 18, 2024)
The Phoenixcoin cryptocurrency price fell by -0.137% on the last day (Saturday, 18th May 2024) from $0.0080 to $0.0080. During the last trading day the cryptocurrency fluctuated 0.97% from a day low at $0.0080 to a day high of $0.0081. The price has risen in 6 of the last 10 days and is up by 7.46% over the past 2 weeks.
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 -9.54% during the next 3 months and, with a 90% probability hold a price between $0.0055 and $0.0097 at the end of this 3-month period.
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PXCUSD Signals & Forecast
The Phoenixcoin 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 $0.0078 and $0.0075. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has risen 29.13%. 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. 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 Phoenixcoin cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0071 and $0.0071. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, Phoenixcoin finds support just below today's level at $0.0071. If this is broken, then the next support from accumulated volume will be at $0.0071 and $0.0064.
This cryptocurrency may move much during the day (volatility) and with periodic low trading volume this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.000078 between high and low, or 0.97%. For the last week the cryptocurrency has had daily average volatility of 3.13%.
Our recommended stop-loss: $0.0078 (-3.40%) (This cryptocurrency has high daily movements and this gives high risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (PXCUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect Phoenixcoin to open at $0.0080, and during the day (based on 14 day Average True Range), to move between $0.0076 and $0.0085, which gives a possible trading interval of +/-$0.0005 (+/-5.67%) up or down from last closing price. If Phoenixcoin takes out the full calculated possible swing range there will be an estimated 11.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0084 (4.08%) than the support at $0.0071 (11.60%), 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 Phoenixcoin cryptocurrency A Buy?
Phoenixcoin holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.591 Hold/Accumulate Unchanged
Predicted Opening Price for Phoenixcoin of Sunday, May 19, 2024
Fair opening price May 19, 2024 | Current price |
---|---|
$0.0080 ( 0.0830%) | $0.0080 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PXCUSD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0081 | 1.05 % | |
R2 | 0.0081 | 0.683 % | ||
R1 | 0.0081 | 0.454 % | ||
Current price: | 0.0080 | |||
Support | S1 | 0.0080 | -0.288 % | |
S2 | 0.0080 | -0.517 % | ||
S3 | 0.0080 | -0.89 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0086 | 7.11 % | |
R2 | 0.0084 | 4.42 % | ||
R1 | 0.0084 | 4.08 % | ||
Current price | 0.0080 | |||
Support | S1 | 0.0071 | -11.60% | |
S2 | 0.0071 | -12.10% | ||
S3 | 0.0064 | -20.40% |
FAQ
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