ScarQuest USD Cryptocurrency Forecast
A very red day for ScarQuest USD cryptocurrency price after a -21.93% fall in the Monday trading session
(Updated on May 20, 2024)
The ScarQuest USD cryptocurrency price fell by -21.93% on the last day (Monday, 20th May 2024) from $0.0016 to $0.0013. During the last trading day the cryptocurrency fluctuated 2.92% from a day low at $0.0013 to a day high of $0.0013. The price has risen in 5 of the last 10 days but is still down by -21.35% for this period. Volume has increased on the last day by 19 thousand 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, 82 thousand shares were bought and sold for approximately $103.93 .
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. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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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SCARUSD 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 ScarQuest USD 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 $0.0015 and $0.0017. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, February 27, 2024, and so far it has fallen -84.03%. Further fall is indicated until a new bottom pivot has been found. ScarQuest USD gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for ScarQuest USD 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 has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.000037 between high and low, or 2.92%. For the last week, the cryptocurrency has had daily average volatility of 2.23%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SCARUSD) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect ScarQuest USD to open at $0.0013, and during the day (based on 14 day Average True Range), to move between $0.0011 and $0.0014, which gives a possible trading interval of +/-$0.0001 (+/-11.15%) up or down from last closing price. If ScarQuest USD takes out the full calculated possible swing range there will be an estimated 22.30% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.0015, some $0.0002 (17.84%) from the current price of $0.0013, our system finds the risk reward not very attractive.
Is ScarQuest USD cryptocurrency A Buy?
ScarQuest USD 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: -6.099 Strong Sell Candidate Downgraded
Predicted Opening Price for ScarQuest USD of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $0.0013 ( 0.87%) | $0.0013 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCARUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0013 | 3.79 % | |
| R2 | 0.0013 | 2.67 % | ||
| R1 | 0.0013 | 1.98 % | ||
| Current price: | 0.0013 | |||
| Support | S1 | 0.0013 | -0.247 % | |
| S2 | 0.0013 | -0.94 % | ||
| S3 | 0.0012 | -2.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0015 | 20.60 % | |
| R2 | 0.0015 | 18.71 % | ||
| R1 | 0.0015 | 17.84 % | ||
| Current price | 0.0013 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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