THORSwap USD Cryptocurrency Forecast

High volatility in THORSwap USD cryptocurrency price on Monday which ended trading at $0.268
(Updated on May 20, 2024)

THORUSD Signals & Forecast

The THORSwap USD 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 $0.246 and $0.231. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). THORSwap USD 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. 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 Wednesday, March 13, 2024, and so far it has fallen -42.39%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for THORSwap USD cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.231 and $0.224. 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, THORSwap USD finds support just below today's level at $0.231. If this is broken, then the next support from accumulated volume will be at $0.224 and $0.219.

This cryptocurrency may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0246 between high and low, or 10.08%. For the last week, the cryptocurrency has had daily average volatility of 4.96%.

Our recommended stop-loss: $0.252 (-5.74%) (This cryptocurrency has high daily movements and this gives high risk. There is a sell signal from a pivot top found 112 days ago.)

Trading Expectations (THORUSD) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect THORSwap USD to open at $0.260, and during the day (based on 14 day Average True Range), to move between $0.252 and $0.283, which gives a possible trading interval of +/-$0.0154 (+/-5.76%) up or down from last closing price. If THORSwap USD takes out the full calculated possible swing range there will be an estimated 11.53% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.298 (11.23%) than the support at $0.231 (13.59%), 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 THORSwap USD 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. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.017 Buy Candidate Upgraded

Predicted Opening Price for THORSwap USD of Tuesday, May 21, 2024

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