Sumokoin USD Cryptocurrency Forecast

Volatile ride for Sumokoin USD cryptocurrency price on Tuesday moving between $0.0054 and $0.0065
(Updated on Jun 25, 2024)

SUMOUSD Signals & Forecast

There are mixed signals in the cryptocurrency today. The Sumokoin 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 $0.0067. On a fall, the cryptocurrency will find some support from the short-term average at $0.0058. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 10.27%. Further rise is indicated until a new top pivot has been found.

Support, Risk & Stop-loss for Sumokoin USD cryptocurrency

Sumokoin USD finds support from accumulated volume at $0.0058 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 periodic low trading volume this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0011 between high and low, or 20.49%. For the last week the cryptocurrency has had daily average volatility of 9.73%.

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

Trading Expectations (SUMOUSD) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Sumokoin USD to open at $0.0059, and during the day (based on 14 day Average True Range), to move between $0.0054 and $0.0063, which gives a possible trading interval of +/-$0.0005 (+/-7.95%) up or down from last closing price. If Sumokoin USD takes out the full calculated possible swing range there will be an estimated 15.89% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0058 (0.41%) than the resistance at $0.0068 (16.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sumokoin USD cryptocurrency A Buy?

Sumokoin 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. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -3.305 Sell Candidate Upgraded

Predicted Opening Price for Sumokoin USD of Wednesday, June 26, 2024

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