SHIBONK USD Cryptocurrency Forecast
Red day on Sunday for SHIBONK USD cryptocurrency after losing 2.56%
(Updated on May 19, 2024)
The SHIBONK USD cryptocurrency price fell by -2.56% on the last day (Sunday, 19th May 2024) from $4.53 to $4.41. During the last trading day the cryptocurrency fluctuated 4.19% from a day low at $4.36 to a day high of $4.55. The price has fallen in 5 of the last 10 days but is still up by 11.37% over the past 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 -500 shares and in total, 26 thousand shares were bought and sold for approximately $113.30 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 -24.78% during the next 3 months and, with a 90% probability hold a price between $0.599 and $6.63 at the end of this 3-month period.
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SBONKUSD Signals & Forecast
The SHIBONK 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 $4.16 and $3.91. 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). 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 Tuesday, March 12, 2024, and so far it has fallen -60.01%. 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.
Support, Risk & Stop-loss for SHIBONK USD cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $4.18 and $4.18. 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, SHIBONK USD finds support just below today's level at $4.18. If this is broken, then the next support from accumulated volume will be at $4.18 and $4.08.
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 $0.183 between high and low, or 4.19%. For the last week the cryptocurrency has had daily average volatility of 6.37%.
Our recommended stop-loss: $4.15 (-5.84%) (This cryptocurrency has high daily movements and this gives high risk. There is a sell signal from a pivot top found 68 days ago.)
Trading Expectations (SBONKUSD) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect SHIBONK USD to open at $4.44, and during the day (based on 14 day Average True Range), to move between $4.07 and $4.75, which gives a possible trading interval of +/-$0.337 (+/-7.65%) up or down from last closing price. If SHIBONK USD takes out the full calculated possible swing range there will be an estimated 15.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.18 (5.18%) than the resistance at $5.15 (16.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SHIBONK USD cryptocurrency A Buy?
SHIBONK USD 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: -0.670 Hold/Accumulate Unchanged
Predicted Opening Price for SHIBONK USD of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $4.44 ( 0.674%) | $4.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SBONKUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.62 | 4.81 % | |
| R2 | 4.55 | 3.23 % | ||
| R1 | 4.51 | 2.26 % | ||
| Current price: | 4.41 | |||
| Support | S1 | 4.37 | -0.91 % | |
| S2 | 4.33 | -1.89 % | ||
| S3 | 4.26 | -3.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.25 | 19.14 % | |
| R2 | 5.24 | 18.78 % | ||
| R1 | 5.15 | 16.88 % | ||
| Current price | 4.41 | |||
| Support | S1 | 4.18 | -5.18% | |
| S2 | 4.18 | -5.26% | ||
| S3 | 4.08 | -7.55% |
FAQ
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