Thought USD Cryptocurrency Forecast
Volatile ride for Thought USD cryptocurrency price on Tuesday moving between $0.0226 and $0.0249
(Updated on Jul 02, 2024)
The Thought USD cryptocurrency price fell by -5.83% on the last day (Tuesday, 2nd Jul 2024) from $0.0248 to $0.0234. During the last trading day the cryptocurrency fluctuated 10.26% from a day low at $0.0226 to a day high of $0.0249. The price has been going up and down for this period, and there has been a 10.15% gain for the last 2 weeks. Volume fell on the last day along with the cryptocurrency, which is actually a good sign as volume should follow the cryptocurrency. On the last day, the trading volume fell by -7 thousand shares and in total, 177 thousand shares were bought and sold for approximately $4.13 thousand.
The cryptocurrency lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.0240 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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.
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THTUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 29.35%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Thought USD cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $0.0275. On a fall, the cryptocurrency will find some support from the short-term average at $0.0216. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 Thought USD cryptocurrency
Thought USD finds support from accumulated volume at $0.0224 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 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 $0.0023 between high and low, or 10.26%. For the last week the cryptocurrency has had daily average volatility of 8.91%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (THTUSD) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Thought USD to open at $0.0236, and during the day (based on 14 day Average True Range), to move between $0.0199 and $0.0268, which gives a possible trading interval of +/-$0.0034 (+/-14.68%) up or down from last closing price. If Thought USD takes out the full calculated possible swing range there will be an estimated 29.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0239 (2.08%) than the support at $0.0224 (4.35%), 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 Thought USD cryptocurrency A Buy?
Thought USD holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency.
Current score: -2.093 Sell Candidate Unchanged
Predicted Opening Price for Thought USD of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.0236 ( 1.07%) | $0.0234 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for THTUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0259 | 10.99% |
| R2 | 0.0251 | 7.20% |
| R1 | 0.0245 | 4.86% |
| Price | 0.0234 | |
| S1 | 0.0227 | -2.71% |
| S2 | 0.0222 | -5.05% |
| S3 | 0.0213 | -8.84% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0267 | 14.25% |
| R2 | 0.0248 | 6.20% |
| R1 | 0.0239 | 2.08% |
| Price | 0.0234 | |
| S1 | 0.0224 | -4.35% |
| S2 | 0.0223 | -4.48% |
| S3 | 0.0222 | -5.13% |
FAQ
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