Shanum USD Cryptocurrency Forecast

Shanum USD cryptocurrency downgraded from Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on May 20, 2024)

SHANUSD Signals & Forecast

The Shanum USD cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the cryptocurrency has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0002 and $0.0002. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Sunday, May 19, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". 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 between high and low, or 0%. For the last week the cryptocurrency has had daily average volatility of 20.11%.

Our recommended stop-loss: $0.0002 (-3.80%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (SHANUSD) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Shanum USD to open at $0.0003, 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 +/-$0.00005691 (+/-22.67%) up or down from last closing price. If Shanum USD takes out the full calculated possible swing range there will be an estimated 45.34% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0003 (0.40%) than the support at $0.0002 (1.20%), 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 Shanum USD cryptocurrency A Buy?

Shanum USD holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.053 Hold/Accumulate Downgraded

Predicted Opening Price for Shanum USD of Tuesday, May 21, 2024

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