BENQI Liquid Staked AVAX USD Cryptocurrency Forecast
BENQI Liquid Staked AVAX USD cryptocurrency price down 1.83% on Tuesday
(Updated on May 28, 2024)
The BENQI Liquid Staked AVAX USD cryptocurrency price fell by -1.83% on the last day (Tuesday, 28th May 2024) from $43.40 to $42.61. During the last trading day the cryptocurrency fluctuated 4.61% from a day low at $41.93 to a day high of $43.86. The price has fallen in 5 of the last 10 days but is still up by 0.46% over the past 2 weeks. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately $126.44 million.
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 -27.75% during the next 3 months and, with a 90% probability hold a price between $24.12 and $38.94 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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SAVAXUSD Signals & Forecast
The BENQI Liquid Staked AVAX USD cryptocurrency holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the cryptocurrency giving a positive forecast for the stock. On further gains, the cryptocurrency will meet resistance from the short-term Moving Average at approximately $43.29. On a fall, the cryptocurrency will find some support from the long-term average at approximately $40.86. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has risen 16.27%. 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 rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely.
Support, Risk & Stop-loss for BENQI Liquid Staked AVAX USD cryptocurrency
BENQI Liquid Staked AVAX USD finds support from accumulated volume at $42.30 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 $1.93 between high and low, or 4.61%. For the last week, the cryptocurrency has had daily average volatility of 3.26%.
Our recommended stop-loss: $41.45 (-2.72%) (This cryptocurrency has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 71 days ago.)
Trading Expectations (SAVAXUSD) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect BENQI Liquid Staked AVAX USD to open at $42.80, and during the day (based on 14 day Average True Range), to move between $40.45 and $44.76, which gives a possible trading interval of +/-$2.16 (+/-5.06%) up or down from last closing price. If BENQI Liquid Staked AVAX USD takes out the full calculated possible swing range there will be an estimated 10.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $42.30 (0.71%) than the resistance at $43.63 (2.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BENQI Liquid Staked AVAX 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.
Current score: 1.598 Buy Candidate Unchanged
Predicted Opening Price for BENQI Liquid Staked AVAX USD of Wednesday, May 29, 2024
| Fair opening price May 29, 2024 | Current price |
|---|---|
| $42.80 ( 0.454%) | $42.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAVAXUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.73 | 4.99 % | |
| R2 | 43.99 | 3.26 % | ||
| R1 | 43.54 | 2.19 % | ||
| Current price: | 42.61 | |||
| Support | S1 | 42.06 | -1.28 % | |
| S2 | 41.60 | -2.35 % | ||
| S3 | 40.87 | -4.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.39 | 8.88 % | |
| R2 | 44.45 | 4.34 % | ||
| R1 | 43.63 | 2.39 % | ||
| Current price | 42.61 | |||
| Support | S1 | 42.30 | -0.710% | |
| S2 | 40.78 | -4.27% | ||
| S3 | 38.92 | -8.65% |
FAQ
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