THORWallet DEX USD Cryptocurrency Forecast

Big movements in THORWallet DEX USD cryptocurrency price on Tuesday moving 27.14% between high and low
(Updated on May 07, 2024)

TGTUSD Signals & Forecast

The THORWallet DEX USD 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 $0.0352. On a fall, the cryptocurrency will find some support from the long-term average at approximately $0.0311. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Sunday, April 21, 2024, and so far it has fallen -19.35%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). THORWallet DEX USD gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for THORWallet DEX USD cryptocurrency

THORWallet DEX USD finds support from accumulated volume at $0.0325 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This cryptocurrency may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0085 between high and low, or 27.14%. For the last week, the cryptocurrency has had daily average volatility of 18.24%.

Our recommended stop-loss: $0.0316 (-4.69%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 16 days ago.)

Trading Expectations (TGTUSD) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect THORWallet DEX USD to open at $0.0349, and during the day (based on 14 day Average True Range), to move between $0.0276 and $0.0387, which gives a possible trading interval of +/-$0.0056 (+/-16.80%) up or down from last closing price. If THORWallet DEX USD takes out the full calculated possible swing range there will be an estimated 33.59% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0325 (1.81%) than the resistance at $0.0362 (9.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is THORWallet DEX USD cryptocurrency A Buy?

THORWallet DEX USD holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.062 Hold/Accumulate Downgraded

Predicted Opening Price for THORWallet DEX USD of Wednesday, May 8, 2024

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