Shanghai Inu USD Cryptocurrency Forecast
High volatility in Shanghai Inu USD cryptocurrency price on Saturday which ended trading at $0.00000000
(Updated on May 18, 2024)
The Shanghai Inu USD cryptocurrency price gained 0.455% on the last trading day (Saturday, 18th May 2024), rising from $0.00000000 to $0.00000000. During the last trading day the cryptocurrency fluctuated 78.34% from a day low at $0.00000000 to a day high of $0.00000000. The price has fallen in 5 of the last 10 days and is down by -0.9% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 30 thousand more shares were traded than the day before. In total, 32 thousand shares were bought and sold for approximately $0.00000709 .
The cryptocurrency lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.00000000 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 31.36% during the next 3 months and, with a 90% probability hold a price between $0.00000000 and $0.00000000 at the end of this 3-month period.
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SHANGUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. The Shanghai Inu USD cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $0.00000000. On a fall, the cryptocurrency will find some support from the short-term average at $0.00000000. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -45.43%. 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). Shanghai Inu USD 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. 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 a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.00000000 between high and low, or 78.34%. For the last week, the cryptocurrency has had daily average volatility of 21.21%.
Shanghai Inu USD is oversold on RSI14 (24). Some cryptocurrencies may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SHANGUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th 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 (+/-13.93%) up or down from last closing price. If Shanghai Inu USD takes out the full calculated possible swing range there will be an estimated 27.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.00000000 (1.81%) than the support at $0.00000000 (9.05%), 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 Shanghai Inu USD cryptocurrency A Buy?
Shanghai Inu USD holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.968 Sell Candidate Downgraded
Predicted Opening Price for Shanghai Inu USD of Sunday, May 19, 2024
Fair opening price May 19, 2024 | Current price |
---|---|
$0.00000000 ( 24.43%) | $0.00000000 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHANGUSD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.00000000 | 101.36 % | |
R2 | 0.00000000 | 71.97 % | ||
R1 | 0.00000000 | 53.82 % | ||
Current price: | 0.00000000 | |||
Support | S1 | 0.00000000 | -4.95 % | |
S2 | 0.00000000 | -23.10 % | ||
S3 | 0.00000000 | -52.49 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.00000000 | 17.65 % | |
R2 | 0.00000000 | 17.19 % | ||
R1 | 0.00000000 | 1.81 % | ||
Current price | 0.00000000 | |||
Support | S1 | 0.00000000 | -9.05% | |
S2 | 0.00000000 | -20.36% | ||
S3 | 0.00000000 | -24.89% |
FAQ
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