Sylo / US Dollar Cryptocurrency Forecast

Weaker technical forecast for Sylo / US Dollar as cryptocurrency downgraded to Strong Sell Candidate.
(Updated on May 27, 2024)

SYLOUSD Signals & Forecast

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 Sylo / US Dollar 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 $0.0017 and $0.0019. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -69.75%. Further fall is indicated until a new bottom pivot has been found. 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 Sylo / US Dollar cryptocurrency

Sylo / US Dollar finds support from accumulated volume at $0.0017 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 $0.000051 between high and low, or 3.08%. For the last week the cryptocurrency has had daily average volatility of 2.90%.

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

Trading Expectations (SYLOUSD) For The Upcoming Trading Day Of Tuesday 28th

For the upcoming trading day on Tuesday, 28th we expect Sylo / US Dollar to open at $0.0017, and during the day (based on 14 day Average True Range), to move between $0.0016 and $0.0018, which gives a possible trading interval of +/-$0.0001 (+/-6.12%) up or down from last closing price. If Sylo / US Dollar takes out the full calculated possible swing range there will be an estimated 12.23% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0017 (0.42%) than the resistance at $0.0017 (2.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sylo / US Dollar cryptocurrency A Buy?

Sylo / US Dollar 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Strong Sell candidate.

Current score: -5.506 Strong Sell Candidate Downgraded

Predicted Opening Price for Sylo / US Dollar of Tuesday, May 28, 2024

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