Sonne Finance USD Cryptocurrency Forecast

Red day on Tuesday for Sonne Finance USD
(Updated on May 28, 2024)

SONNEUSD Signals & Forecast

There are few to no technical positive signals at the moment. The Sonne Finance 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 $0.0165 and $0.0531. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 29, 2024, and so far it has fallen -90.55%. 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). Sonne Finance USD gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Sonne Finance USD cryptocurrency

Sonne Finance USD finds support from accumulated volume at $0.0157 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 a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0008 between high and low, or 5.18%. For the last week, the cryptocurrency has had daily average volatility of 3.75%.

Sonne Finance USD is oversold on RSI14 (5). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

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

Trading Expectations (SONNEUSD) For The Upcoming Trading Day Of Wednesday 29th

For the upcoming trading day on Wednesday, 29th we expect Sonne Finance USD to open at $0.0164, and during the day (based on 14 day Average True Range), to move between $0.0124 and $0.0204, which gives a possible trading interval of +/-$0.0040 (+/-24.52%) up or down from last closing price. If Sonne Finance USD takes out the full calculated possible swing range there will be an estimated 49.05% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0168 (2.51%) than the support at $0.0157 (4.17%), 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 Sonne Finance USD cryptocurrency A Buy?

Sonne Finance 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.

Current score: -6.762 Strong Sell Candidate Unchanged

Predicted Opening Price for Sonne Finance USD of Wednesday, May 29, 2024

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