Siacoin / US Dollar Cryptocurrency Forecast
Green day on Friday for Siacoin / US Dollar cryptocurrency after gaining 1.59%
(Updated on Apr 19, 2024)
The Siacoin / US Dollar cryptocurrency price gained 1.59% on the last trading day (Friday, 19th Apr 2024), rising from $0.0069 to $0.0070. During the last trading day the cryptocurrency fluctuated 8.72% from a day low at $0.0065 to a day high of $0.0071. The price has fallen in 6 of the last 10 days and is down by -25.34% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 million more shares were traded than the day before. In total, 15 million shares were bought and sold for approximately $102.20 thousand.
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 $0.0069 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -10.28% during the next 3 months and, with a 90% probability hold a price between $0.0062 and $0.0172 at the end of this 3-month period.
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SCUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 1.88%. Further rise is indicated until a new top pivot has been found. Siacoin / US Dollar has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Siacoin / 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 $0.0071 and $0.0090. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Siacoin / US Dollar cryptocurrency
Siacoin / US Dollar finds support from accumulated volume at $0.0070 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0006 between high and low, or 8.72%. For the last week, the cryptocurrency has had daily average volatility of 10.85%.
Siacoin / US Dollar is oversold on RSI14 (11). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SCUSD) For The Upcoming Trading Day Of Saturday 20th
For the upcoming trading day on Saturday, 20th we expect Siacoin / US Dollar to open at $0.0069, and during the day (based on 14 day Average True Range), to move between $0.0063 and $0.0078, which gives a possible trading interval of +/-$0.0008 (+/-11.18%) up or down from last closing price. If Siacoin / US Dollar takes out the full calculated possible swing range there will be an estimated 22.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0070 (0.07%) than the resistance at $0.0071 (0.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Siacoin / US Dollar cryptocurrency A Buy?
Siacoin / 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.
Current score: -2.969 Sell Candidate Unchanged
Predicted Opening Price for Siacoin / US Dollar of Saturday, April 20, 2024
| Fair opening price April 20, 2024 | Current price |
|---|---|
| $0.0069 ( 2.04%) | $0.0070 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0075 | 6.06 % | |
| R2 | 0.0072 | 2.97 % | ||
| R1 | 0.0071 | 1.06 % | ||
| Current price: | 0.0070 | |||
| Support | S1 | 0.0067 | -5.13 % | |
| S2 | 0.0065 | -7.04 % | ||
| S3 | 0.0063 | -10.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0087 | 22.87 % | |
| R2 | 0.0072 | 2.70 % | ||
| R1 | 0.0071 | 0.426 % | ||
| Current price | 0.0070 | |||
| Support | S1 | 0.0070 | -0.0710% | |
| S2 | 0.0069 | -1.56% | ||
| S3 | 0.0069 | -1.85% |
FAQ
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