Snetwork USD Cryptocurrency Forecast

Volatile ride for Snetwork USD cryptocurrency price on Monday moving between $0.0015 and $0.0018
(Updated on May 20, 2024)

SNETUSD Signals & Forecast

The Snetwork 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 $0.0016 and $0.0016. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 11.48%. Further rise is indicated until a new top pivot has been found. Snetwork 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The cryptocurrency had a Golden Star Signal on Monday, November 13, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the cryptocurrency in question.

Support, Risk & Stop-loss for Snetwork USD cryptocurrency

Snetwork USD finds support from accumulated volume at $0.0016 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 a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0003 between high and low, or 17.71%. For the last week, the cryptocurrency has had daily average volatility of 8.75%.

Our recommended stop-loss: $0.0016 (-3.92%) (This cryptocurrency has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 68 days ago.)

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

For the upcoming trading day on Tuesday, 21st we expect Snetwork USD to open at $0.0017, and during the day (based on 14 day Average True Range), to move between $0.0015 and $0.0018, which gives a possible trading interval of +/-$0.0001 (+/-7.43%) up or down from last closing price. If Snetwork USD takes out the full calculated possible swing range there will be an estimated 14.87% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0016 (3.76%) than the resistance at $0.0019 (13.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Snetwork USD cryptocurrency A Buy?

Several short-term signals are positive, despite the cryptocurrency being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for cryptocurrency to perform well in the short-term. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Buy candidate.

Current score: 3.133 Buy Candidate Upgraded

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

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