TagCoin Cryptocurrency Forecast
TagCoin cryptocurrency price down 1.04% on Friday
(Updated on May 31, 2024)
The TagCoin cryptocurrency price fell by -1.04% on the last day (Friday, 31st May 2024) from $0.0123 to $0.0122. During the last trading day the cryptocurrency fluctuated 3.38% from a day low at $0.0120 to a day high of $0.0124. The price has fallen in 5 of the last 10 days and is down by -2.79% for this period.
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0098 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -5.83% during the next 3 months and, with a 90% probability hold a price between $0.0092 and $0.0228 at the end of this 3-month period.
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TAGUSD Signals & Forecast
The TagCoin cryptocurrency holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the cryptocurrency giving a positive forecast for the stock. On further gains, the cryptocurrency will meet resistance from the short-term Moving Average at approximately $0.0123. On a fall, the cryptocurrency will find some support from the long-term average at approximately $0.0117. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 18.47%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 TagCoin cryptocurrency
TagCoin finds support from accumulated volume at $0.0121 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 $0.0004 between high and low, or 3.38%. For the last week the cryptocurrency has had daily average volatility of 3.16%.
Our recommended stop-loss: $0.0117 (-3.96%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 89 days ago.)
Trading Expectations (TAGUSD) For The Upcoming Trading Day Of Saturday 1st
For the upcoming trading day on Saturday, 1st we expect TagCoin to open at $0.0122, and during the day (based on 14 day Average True Range), to move between $0.0118 and $0.0125, which gives a possible trading interval of +/-$0.0004 (+/-3.09%) up or down from last closing price. If TagCoin takes out the full calculated possible swing range there will be an estimated 6.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0121 (0.34%) than the resistance at $0.0123 (1.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is TagCoin cryptocurrency A Buy?
Several short-term signals are positive, despite the cryptocurrency being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for cryptocurrency to perform well in the short-term.
Current score: 1.975 Buy Candidate Unchanged
Predicted Opening Price for TagCoin of Saturday, June 1, 2024
Fair opening price June 1, 2024 | Current price |
---|---|
$0.0122 ( 0.241%) | $0.0122 |
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 | 0.0126 | 3.58 % | |
R2 | 0.0124 | 2.30 % | ||
R1 | 0.0123 | 1.52 % | ||
Current price: | 0.0122 | |||
Support | S1 | 0.0120 | -1.03 % | |
S2 | 0.0119 | -1.82 % | ||
S3 | 0.0118 | -3.10 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0125 | 2.85 % | |
R2 | 0.0125 | 2.58 % | ||
R1 | 0.0123 | 1.36 % | ||
Current price | 0.0122 | |||
Support | S1 | 0.0121 | -0.337% | |
S2 | 0.0117 | -4.00% | ||
S3 | 0.0114 | -5.96% |
FAQ
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