Syscoin / US Dollar Cryptocurrency Forecast
Green day on Saturday for Syscoin / US Dollar
(Updated on May 04, 2024)
The Syscoin / US Dollar cryptocurrency price gained 4.17% on the last trading day (Saturday, 4th May 2024), rising from $0.194 to $0.202. During the last trading day the cryptocurrency fluctuated 6.58% from a day low at $0.192 to a day high of $0.204. The price has fallen in 6 of the last 10 days and is down by -15.53% for this period. Volume fell on the last day by -875 thousand shares and in total, 2 million shares were bought and sold for approximately $472.19 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 lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.189 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 40.30% during the next 3 months and, with a 90% probability hold a price between $0.265 and $0.566 at the end of this 3-month period.
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SYSUSD 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 Syscoin / 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 $0.203 and $0.244. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 14, 2024, and so far it has fallen -39.97%. Further fall is indicated until a new bottom pivot has been found. 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 Syscoin / US Dollar cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.189 and $0.182. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, Syscoin / US Dollar finds support just below today's level at $0.189. If this is broken, then the next support from accumulated volume will be at $0.182 and $0.161.
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 $0.0126 between high and low, or 6.58%. For the last week the cryptocurrency has had daily average volatility of 9.85%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SYSUSD) For The Upcoming Trading Day Of Sunday 5th
For the upcoming trading day on Sunday, 5th we expect Syscoin / US Dollar to open at $0.199, and during the day (based on 14 day Average True Range), to move between $0.178 and $0.226, which gives a possible trading interval of +/-$0.0241 (+/-11.91%) up or down from last closing price. If Syscoin / US Dollar takes out the full calculated possible swing range there will be an estimated 23.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.189 (6.38%) than the resistance at $0.244 (20.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Syscoin / US Dollar cryptocurrency A Buy?
The Syscoin / US Dollar cryptocurrency holds several negative signals and despite the positive trend, we believe Syscoin / US Dollar will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency.
Current score: -3.537 Sell Candidate Unchanged
Predicted Opening Price for Syscoin / US Dollar of Sunday, May 5, 2024
| Fair opening price May 5, 2024 | Current price |
|---|---|
| $0.199 ( 1.45%) | $0.202 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SYSUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.212 | 4.78 % | |
| R2 | 0.207 | 2.40 % | ||
| R1 | 0.204 | 0.93 % | ||
| Current price: | 0.202 | |||
| Support | S1 | 0.195 | -3.83 % | |
| S2 | 0.192 | -5.30 % | ||
| S3 | 0.187 | -7.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.247 | 21.95 % | |
| R2 | 0.247 | 21.86 % | ||
| R1 | 0.244 | 20.81 % | ||
| Current price | 0.202 | |||
| Support | S1 | 0.189 | -6.38% | |
| S2 | 0.182 | -9.84% | ||
| S3 | 0.161 | -20.46% |
FAQ
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