Sentinel Chain / US Dollar Cryptocurrency Forecast
Sentinel Chain / US Dollar cryptocurrency upgraded to Buy Candidate.
(Updated on May 18, 2024)
The Sentinel Chain / US Dollar cryptocurrency price gained 2.42% on the last trading day (Saturday, 18th May 2024), rising from $0.0008 to $0.0008. During the last trading day the cryptocurrency fluctuated 6.22% from a day low at $0.0008 to a day high of $0.0009. The price has risen in 5 of the last 10 days and is up by 6.29% over the past 2 weeks. Volume fell on the last day by -263 shares and in total, 23 thousand shares were bought and sold for approximately $19.80 . You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The cryptocurrency lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to rise 80.50% during the next 3 months and, with a 90% probability hold a price between $0.0009 and $0.0023 at the end of this 3-month period.
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SENCUSD Signals & Forecast
A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -29.76%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Sentinel Chain / US Dollar 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 $0.0009. On a fall, the cryptocurrency will find some support from the long-term average at approximately $0.0006. 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.
Support, Risk & Stop-loss for Sentinel Chain / US Dollar cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0007 and $0.0007. 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, Sentinel Chain / US Dollar finds support just below today's level at $0.0007. If this is broken, then the next support from accumulated volume will be at $0.0007 and $0.0007.
This cryptocurrency may move very much during the day (volatility) and with periodic low trading volume this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.000051 between high and low, or 6.22%. For the last week the cryptocurrency has had daily average volatility of 5.95%.
Our recommended stop-loss: $0.0008 (-5.40%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (SENCUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect Sentinel Chain / US Dollar to open at $0.0008, and during the day (based on 14 day Average True Range), to move between $0.0007 and $0.0010, which gives a possible trading interval of +/-$0.0002 (+/-21.13%) up or down from last closing price. If Sentinel Chain / US Dollar takes out the full calculated possible swing range there will be an estimated 42.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0008 (0.47%) than the support at $0.0007 (14.08%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Sentinel Chain / US Dollar cryptocurrency A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.923 Buy Candidate Upgraded
Predicted Opening Price for Sentinel Chain / US Dollar of Sunday, May 19, 2024
| Fair opening price May 19, 2024 | Current price |
|---|---|
| $0.0008 ( 0.0394%) | $0.0008 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SENCUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0009 | 6.07 % | |
| R2 | 0.0009 | 3.77 % | ||
| R1 | 0.0009 | 2.35 % | ||
| Current price: | 0.0008 | |||
| Support | S1 | 0.0008 | -2.27 % | |
| S2 | 0.0008 | -3.69 % | ||
| S3 | 0.0008 | -6.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0010 | 21.78 % | |
| R2 | 0.0009 | 2.60 % | ||
| R1 | 0.0008 | 0.473 % | ||
| Current price | 0.0008 | |||
| Support | S1 | 0.0007 | -14.08% | |
| S2 | 0.0007 | -18.93% | ||
| S3 | 0.0007 | -19.64% |
FAQ
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