Shanum USD Cryptocurrency Forecast
High volatility in Shanum USD cryptocurrency price on Thursday which ended trading at $0.0002
(Updated on May 02, 2024)
The Shanum USD cryptocurrency price gained 0.81% on the last trading day (Thursday, 2nd May 2024), rising from $0.0002 to $0.0002. During the last trading day the cryptocurrency fluctuated 34.59% from a day low at $0.0002 to a day high of $0.0002. The price has been going up and down for this period, and there has been a -19.16% loss for the last 2 weeks.
The cryptocurrency lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to fall -28.01% during the next 3 months and, with a 90% probability hold a price between $0.0001 and $0.0002 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SHANUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.55%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 $0.0003 and $0.0003. A break-up above any of these levels will issue buy signals. 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.
A sell signal from a double top formation was found on Saturday, April 06, 2024 and based on theory for this formation the price should fall by -26.26% to $0.0002 within 13 trading days since signal was issued (Friday, May 03, 2024).
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 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 $0.000064 between high and low, or 34.59%. For the last week the cryptocurrency has had daily average volatility of 27.32%.
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 Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Shanum USD to open at $0.0002, and during the day (based on 14 day Average True Range), to move between $0.0002 and $0.0003, which gives a possible trading interval of +/-$0.00006978 (+/-28.03%) up or down from last closing price. If Shanum USD takes out the full calculated possible swing range there will be an estimated 56.05% 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 (0.40%) than the resistance at $0.0003 (0.80%), 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: -2.999 Sell Candidate Upgraded
Predicted Opening Price for Shanum USD of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.0002 ( 8.57%) | $0.0002 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHANUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0003 | 17.14 % | |
| R2 | 0.0003 | 7.32 % | ||
| R1 | 0.0003 | 1.25 % | ||
| Current price: | 0.0002 | |||
| Support | S1 | 0.0002 | -18.39 % | |
| S2 | 0.0002 | -24.45 % | ||
| S3 | 0.0002 | -34.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0003 | 23.69 % | |
| R2 | 0.0003 | 1.20 % | ||
| R1 | 0.0003 | 0.80 % | ||
| Current price | 0.0002 | |||
| Support | S1 | 0.0002 | -0.402% | |
| S2 | 0.0002 | -0.80% | ||
| S3 | 0.0002 | -1.53% |
FAQ
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