Stox / US Dollar Cryptocurrency Forecast
Big movements in Stox / US Dollar cryptocurrency price on Wednesday moving 37.29% between high and low
(Updated on Jun 26, 2024)
The Stox / US Dollar cryptocurrency price fell by -2.95% on the last day (Wednesday, 26th Jun 2024) from $1.77 to $1.71. During the last trading day the cryptocurrency fluctuated 37.29% from a day low at $1.67 to a day high of $2.30. The price has fallen in 6 of the last 10 days and is down by -10.03% for this period. Volume fell on the last day along with the cryptocurrency, which is actually a good sign as volume should follow the cryptocurrency. On the last day, the trading volume fell by -17 million shares and in total, 121 million shares were bought and sold for approximately $207.79 million.
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 -42.86% during the next 3 months and, with a 90% probability hold a price between $0.85 and $1.22 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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STXUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 12.41%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Stox / US Dollar 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 $1.94. On a fall, the cryptocurrency will find some support from the short-term average at $1.65. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Stox / US Dollar cryptocurrency
Stox / US Dollar finds support from accumulated volume at $1.66 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 $0.624 between high and low, or 37.29%. For the last week, the cryptocurrency has had daily average volatility of 14.32%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (STXUSD) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Stox / US Dollar to open at $1.89, and during the day (based on 14 day Average True Range), to move between $1.49 and $1.94, which gives a possible trading interval of +/-$0.221 (+/-12.89%) up or down from last closing price. If Stox / US Dollar takes out the full calculated possible swing range there will be an estimated 25.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.66 (2.98%) than the resistance at $2.07 (20.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Stox / US Dollar cryptocurrency A Buy?
Stox / US Dollar 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 Hold/Accumulate to a Sell candidate.
Current score: -3.633 Sell Candidate Downgraded
Predicted Opening Price for Stox / US Dollar of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $1.89 ( 10.53%) | $1.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STXUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.52 | 46.93% |
| R2 | 2.28 | 33.02% |
| R1 | 2.13 | 24.43% |
| Price | 1.71 | |
| S1 | 1.66 | -3.37% |
| S2 | 1.51 | -11.96% |
| S3 | 1.27 | -25.87% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.13 | 24.16% |
| R2 | 2.12 | 23.81% |
| R1 | 2.07 | 20.53% |
| Price | 1.71 | |
| S1 | 1.66 | -2.98% |
| S2 | 1.64 | -4.59% |
| S3 | 1.60 | -6.92% |
FAQ
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