Synesis One USD Cryptocurrency Forecast

Is Synesis One USD cryptocurrency still a buy after falling -9.73% on Wednesday?
(Updated on May 08, 2024)

SNSUSD Signals & Forecast

There are mixed signals in the cryptocurrency today. The Synesis One 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 $0.0674. On a fall, the cryptocurrency will find some support from the short-term average at $0.0581. 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 Thursday, March 07, 2024, and so far it has fallen -69.01%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this cryptocurrency may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Synesis One USD cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0542 and $0.0524. 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, Synesis One USD finds support just below today's level at $0.0542. If this is broken, then the next support from accumulated volume will be at $0.0524 and $0.0492.

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 $0.0047 between high and low, or 7.42%. For the last week the cryptocurrency has had daily average volatility of 13.06%.

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

Trading Expectations (SNSUSD) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect Synesis One USD to open at $0.0646, and during the day (based on 14 day Average True Range), to move between $0.0526 and $0.0738, which gives a possible trading interval of +/-$0.0106 (+/-16.75%) up or down from last closing price. If Synesis One USD takes out the full calculated possible swing range there will be an estimated 33.51% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0654 (3.44%) than the support at $0.0542 (14.32%), 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 Synesis One USD cryptocurrency A Buy?

Synesis One 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 Buy to a Sell candidate.

Current score: -2.316 Sell Candidate Downgraded

Predicted Opening Price for Synesis One USD of Thursday, May 9, 2024

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