SafePal / US Dollar Cryptocurrency Forecast
Red day on Sunday for SafePal / US Dollar
(Updated on May 05, 2024)
The SafePal / US Dollar cryptocurrency price fell by -0.89% on the last day (Sunday, 5th May 2024) from $0.84 to $0.83. During the last trading day the cryptocurrency fluctuated 3.22% from a day low at $0.82 to a day high of $0.85. The price has risen in 6 of the last 10 days but is still down by -0.38% for this period. Volume has increased on the last day by 3 million 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, 5 million shares were bought and sold for approximately $4.40 million.
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 10.09% during the next 3 months and, with a 90% probability hold a price between $0.762 and $1.00 at the end of this 3-month period.
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SFPUSD Signals & Forecast
The SafePal / US Dollar 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 $0.82 and $0.799. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Sunday, April 14, 2024, and so far it has risen 15.80%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely.
Support, Risk & Stop-loss for SafePal / US Dollar cryptocurrency
SafePal / US Dollar finds support from accumulated volume at $0.83 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0265 between high and low, or 3.22%. For the last week, the cryptocurrency has had daily average volatility of 5.76%.
Our recommended stop-loss: $0.792 (-4.72%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (SFPUSD) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect SafePal / US Dollar to open at $0.84, and during the day (based on 14 day Average True Range), to move between $0.776 and $0.89, which gives a possible trading interval of +/-$0.0547 (+/-6.58%) up or down from last closing price. If SafePal / US Dollar takes out the full calculated possible swing range there will be an estimated 13.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.83 (0.12%) than the resistance at $0.87 (4.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SafePal / US Dollar cryptocurrency A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for SafePal / US Dollar cryptocurrency to perform well in the short-term.
Current score: 2.173 Buy Candidate Unchanged
Predicted Opening Price for SafePal / US Dollar of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.84 ( 0.509%) | $0.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SFPUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.86 | 3.70 % | |
| R2 | 0.85 | 2.48 % | ||
| R1 | 0.85 | 1.73 % | ||
| Current price: | 0.83 | |||
| Support | S1 | 0.83 | -0.709 % | |
| S2 | 0.82 | -1.46 % | ||
| S3 | 0.81 | -2.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.88 | 6.11 % | |
| R2 | 0.87 | 4.89 % | ||
| R1 | 0.87 | 4.87 % | ||
| Current price | 0.83 | |||
| Support | S1 | 0.83 | -0.120% | |
| S2 | 0.82 | -1.75% | ||
| S3 | 0.754 | -9.22% |
FAQ
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