Shanghai Inu USD Cryptocurrency Forecast

Shanghai Inu USD cryptocurrency price down 1.23% on Wednesday
(Updated on May 01, 2024)

SHANGUSD Signals & Forecast

The Shanghai Inu USD 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 $0.00000000. On a fall, the cryptocurrency will find some support from the long-term average at approximately $0.00000000. 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. 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 Wednesday, April 10, 2024, and so far it has fallen -40.49%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this cryptocurrency may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Shanghai Inu USD cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.00000000 and $0.00000000. 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, Shanghai Inu USD finds support just below today's level at $0.00000000. If this is broken, then the next support from accumulated volume will be at $0.00000000 and $0.00000000.

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 $0.00000000 between high and low, or 2.95%. For the last week the cryptocurrency has had daily average volatility of 6.47%.

Our recommended stop-loss: $0.00000000 (-4.79%) (This cryptocurrency has high daily movements and this gives high risk. There is a sell signal from a pivot top found 21 days ago.)

Trading Expectations (SHANGUSD) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Shanghai Inu USD to open at $0.00000000, and during the day (based on 14 day Average True Range), to move between $0.00000000 and $0.00000000, which gives a possible trading interval of +/-$0.00000000 (+/-12.92%) up or down from last closing price. If Shanghai Inu USD takes out the full calculated possible swing range there will be an estimated 25.85% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.00000000 (5.81%) than the resistance at $0.00000000 (7.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Shanghai Inu USD 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 Shanghai Inu USD cryptocurrency to perform well in the short-term.

Current score: 2.824 Buy Candidate Unchanged

Predicted Opening Price for Shanghai Inu USD of Thursday, May 2, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.