Scopuly USD Cryptocurrency Forecast
A very strong day for Scopuly USD cryptocurrency price on Friday
(Updated on Jun 28, 2024)
The Scopuly USD cryptocurrency price gained 15.25% on the last trading day (Friday, 28th Jun 2024), rising from $0.0148 to $0.0170. During the last trading day the cryptocurrency fluctuated 5.28% from a day low at $0.0165 to a day high of $0.0174. The price has risen in 7 of the last 10 days and is up by 30.04% over the past 2 weeks.
The cryptocurrency lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.0172 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the cryptocurrency is expected to fall -23.83% during the next 3 months and, with a 90% probability hold a price between $0.0095 and $0.0131 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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SCOPUSD Signals & Forecast
The Scopuly 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 $0.0160 and $0.0147. 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, June 25, 2024, and so far it has fallen -2.01%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Scopuly USD cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0148 and $0.0147. 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, Scopuly USD finds support just below today's level at $0.0148. If this is broken, then the next support from accumulated volume will be at $0.0147 and $0.0138.
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 $0.0009 between high and low, or 5.28%. For the last week the cryptocurrency has had daily average volatility of 9.32%.
Our recommended stop-loss: $0.0164 (-3.60%) (This cryptocurrency has high daily movements and this gives high risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (SCOPUSD) For The Upcoming Trading Day Of Saturday 29th
For the upcoming trading day on Saturday, 29th we expect Scopuly USD to open at $0.0170, and during the day (based on 14 day Average True Range), to move between $0.0158 and $0.0183, which gives a possible trading interval of +/-$0.0012 (+/-7.33%) up or down from last closing price. If Scopuly USD takes out the full calculated possible swing range there will be an estimated 14.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0148 (13.23%) than the resistance at $0.0200 (17.16%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Scopuly USD cryptocurrency A Buy?
Scopuly 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. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.331 Hold/Accumulate Upgraded
Predicted Opening Price for Scopuly USD of Saturday, June 29, 2024
| Fair opening price June 29, 2024 | Current price |
|---|---|
| $0.0170 ( 0.342%) | $0.0170 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCOPUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0178 | 4.77% |
| R2 | 0.0175 | 2.82% |
| R1 | 0.0173 | 1.61% |
| Price | 0.0170 | |
| S1 | 0.0166 | -2.30% |
| S2 | 0.0164 | -3.50% |
| S3 | 0.0161 | -5.46% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0212 | 24.59% |
| R2 | 0.0207 | 21.46% |
| R1 | 0.0200 | 17.16% |
| Price | 0.0170 | |
| S1 | 0.0148 | -13.23% |
| S2 | 0.0147 | -13.79% |
| S3 | 0.0138 | -19.17% |
FAQ
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