TrustSwap / US Dollar Cryptocurrency Forecast
Weaker technical forecast for TrustSwap / US Dollar as cryptocurrency downgraded to Sell Candidate.
(Updated on May 18, 2024)
The TrustSwap / US Dollar cryptocurrency price gained 4.38% on the last trading day (Saturday, 18th May 2024), rising from $0.158 to $0.165. During the last trading day the cryptocurrency fluctuated 6.41% from a day low at $0.157 to a day high of $0.167. The price has fallen in 6 of the last 10 days and is down by -3.1% for this period. Volume fell on the last day by -138 thousand shares and in total, 650 thousand shares were bought and sold for approximately $106.99 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -32.90% during the next 3 months and, with a 90% probability hold a price between $0.0989 and $0.147 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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SWAPUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has risen 8.04%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The TrustSwap / 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 $0.167. On a fall, the cryptocurrency will find some support from the short-term average at $0.160. 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. 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 also not.
Support, Risk & Stop-loss for TrustSwap / US Dollar cryptocurrency
TrustSwap / US Dollar finds support from accumulated volume at $0.164 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the cryptocurrency moved $0.0100 between high and low, or 6.41%. For the last week the cryptocurrency has had daily average volatility of 5.47%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SWAPUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect TrustSwap / US Dollar to open at $0.163, and during the day (based on 14 day Average True Range), to move between $0.152 and $0.177, which gives a possible trading interval of +/-$0.0123 (+/-7.50%) up or down from last closing price. If TrustSwap / US Dollar takes out the full calculated possible swing range there will be an estimated 15.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.164 (0.60%) than the resistance at $0.182 (10.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is TrustSwap / US Dollar cryptocurrency A Buy?
TrustSwap / 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: -2.103 Sell Candidate Downgraded
Predicted Opening Price for TrustSwap / US Dollar of Sunday, May 19, 2024
| Fair opening price May 19, 2024 | Current price |
|---|---|
| $0.163 ( 1.13%) | $0.165 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SWAPUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.173 | 4.97 % | |
| R2 | 0.169 | 2.64 % | ||
| R1 | 0.166 | 1.20 % | ||
| Current price: | 0.165 | |||
| Support | S1 | 0.159 | -3.47 % | |
| S2 | 0.156 | -4.91 % | ||
| S3 | 0.153 | -7.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.193 | 17.51 % | |
| R2 | 0.185 | 12.48 % | ||
| R1 | 0.182 | 10.41 % | ||
| Current price | 0.165 | |||
| Support | S1 | 0.164 | -0.596% | |
| S2 | 0.163 | -1.15% | ||
| S3 | 0.161 | -2.22% |
FAQ
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