Quantstamp / US Dollar Cryptocurrency Forecast
Is Quantstamp / US Dollar cryptocurrency still a buy after falling -20.65% on Monday?
(Updated on May 06, 2024)
The Quantstamp / US Dollar cryptocurrency price fell by -20.65% on the last day (Monday, 6th May 2024) from $0.0023 to $0.0018. During the last trading day the cryptocurrency fluctuated 5.81% from a day low at $0.0018 to a day high of $0.0019. The price has been going up and down for this period, and there has been a -12.01% loss 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 -3 thousand shares and in total, 6 thousand shares were bought and sold for approximately $10.21 .
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0014 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -43.34% during the next 3 months and, with a 90% probability hold a price between $0.0008 and $0.0023 at the end of this 3-month period.
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QSPUSD Signals & Forecast
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. The Quantstamp / US Dollar cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0022 and $0.0028. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -69.72%. Further fall is indicated until a new bottom pivot has been found. 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 Quantstamp / US Dollar cryptocurrency
There is no support from accumulated volume below today's level and given the right condition the cryptocurrency may perform very badly in the next couple of days.
This cryptocurrency may move very much during the day (volatility) and with periodic low trading volume this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0001 between high and low, or 5.81%. For the last week the cryptocurrency has had daily average volatility of 5.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (QSPUSD) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Quantstamp / US Dollar to open at $0.0019, and during the day (based on 14 day Average True Range), to move between $0.0016 and $0.0021, which gives a possible trading interval of +/-$0.0003 (+/-13.72%) up or down from last closing price. If Quantstamp / US Dollar takes out the full calculated possible swing range there will be an estimated 27.45% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.0022, some $0.0003 (18.31%) from the current price of $0.0018, our system finds the risk reward not very attractive.
Is Quantstamp / US Dollar cryptocurrency A Buy?
Quantstamp / US Dollar holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this cryptocurrency. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -6.708 Strong Sell Candidate Downgraded
Predicted Opening Price for Quantstamp / US Dollar of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $0.0019 ( 1.90%) | $0.0018 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QSPUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0020 | 7.71 % | |
| R2 | 0.0019 | 5.49 % | ||
| R1 | 0.0019 | 4.12 % | ||
| Current price: | 0.0018 | |||
| Support | S1 | 0.0018 | -0.325 % | |
| S2 | 0.0018 | -1.70 % | ||
| S3 | 0.0018 | -3.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0023 | 23.99 % | |
| R2 | 0.0022 | 22.48 % | ||
| R1 | 0.0022 | 18.31 % | ||
| Current price | 0.0018 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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