Shanum USD Cryptocurrency Forecast

High volatility in Shanum USD cryptocurrency price on Tuesday which ended trading at $0.0002
(Updated on Jul 02, 2024)

SHANUSD Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, July 01, 2024, and so far it has risen 50.00%. 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. The Shanum USD 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 $0.0002 and $0.0002. 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). 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.

Support, Risk & Stop-loss for Shanum USD cryptocurrency

Shanum USD finds support from accumulated volume at $0.0002 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 periodic low trading volume this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.000061 between high and low, or 50.00%. For the last week the cryptocurrency has had daily average volatility of 57.10%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (SHANUSD) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Shanum USD to open at $0.0002, and during the day (based on 14 day Average True Range), to move between $0.0001 and $0.0002, which gives a possible trading interval of +/-$0.00006383 (+/-34.88%) up or down from last closing price. If Shanum USD takes out the full calculated possible swing range there will be an estimated 69.76% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0002 (0.23%) than the resistance at $0.0002 (0.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Shanum USD cryptocurrency A Buy?

Shanum USD 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. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -3.283 Sell Candidate Upgraded

Predicted Opening Price for Shanum USD of Wednesday, July 3, 2024

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