TagCoin Cryptocurrency Forecast
TagCoin cryptocurrency upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)
The TagCoin cryptocurrency price gained 1.57% on the last trading day (Friday, 17th May 2024), rising from $0.0119 to $0.0120. During the last trading day the cryptocurrency fluctuated 3.50% from a day low at $0.0117 to a day high of $0.0121. The price has risen in 6 of the last 10 days and is up by 5.91% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 more shares were traded than the day before. In total, 7 shares were bought and sold for approximately $0.0843 .
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 -35.68% during the next 3 months and, with a 90% probability hold a price between $0.0055 and $0.0113 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
TAGUSD Signals & Forecast
The TagCoin cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0115 and $0.0114. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 17.26%. 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). TagCoin has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for TagCoin cryptocurrency
TagCoin finds support from accumulated volume at $0.0117 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 and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.0004 between high and low, or 3.50%. For the last week, the cryptocurrency has had daily average volatility of 3.78%.
Our recommended stop-loss: $0.0115 (-4.30%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (TAGUSD) For The Upcoming Trading Day Of Saturday 18th
For the upcoming trading day on Saturday, 18th we expect TagCoin to open at $0.0120, and during the day (based on 14 day Average True Range), to move between $0.0116 and $0.0125, which gives a possible trading interval of +/-$0.0004 (+/-3.45%) up or down from last closing price. If TagCoin takes out the full calculated possible swing range there will be an estimated 6.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0120 (0.02%) than the support at $0.0117 (3.01%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is TagCoin cryptocurrency A Buy?
TagCoin holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for TagCoin of Saturday, May 18, 2024
| Fair opening price May 18, 2024 | Current price |
|---|---|
| $0.0120 ( 0.598%) | $0.0120 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TAGUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0124 | 2.81 % | |
| R2 | 0.0122 | 1.51 % | ||
| R1 | 0.0121 | 0.703 % | ||
| Current price: | 0.0120 | |||
| Support | S1 | 0.0118 | -1.90 % | |
| S2 | 0.0117 | -2.70 % | ||
| S3 | 0.0116 | -4.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0121 | 0.781 % | |
| R2 | 0.0121 | 0.698 % | ||
| R1 | 0.0120 | 0.0166 % | ||
| Current price | 0.0120 | |||
| Support | S1 | 0.0117 | -3.01% | |
| S2 | 0.0115 | -4.73% | ||
| S3 | 0.0114 | -4.98% |
FAQ
Click here for our free guide on how to buy TagCoin Cryptocurrency.
