Tokenize Xchange USD Cryptocurrency Forecast
Weaker technical forecast for Tokenize Xchange USD as cryptocurrency downgraded to Sell Candidate.
(Updated on Jun 06, 2024)
The Tokenize Xchange USD cryptocurrency price fell by -0.149% on the last day (Thursday, 6th Jun 2024) from $12.69 to $12.67. During the last trading day the cryptocurrency fluctuated 5.19% from a day low at $12.39 to a day high of $13.04. The price has fallen in 6 of the last 10 days and is down by -9.51% for this period. 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 -31 thousand shares and in total, 427 thousand shares were bought and sold for approximately $5.41 million.
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 -20.40% during the next 3 months and, with a 90% probability hold a price between $7.62 and $11.16 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.
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TKXUSD Signals & Forecast
The Tokenize Xchange 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 $12.58 and $12.58. A breakdown below any of these levels will issue sell signals. 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 Friday, May 24, 2024, and so far it has fallen -12.85%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Tokenize Xchange USD cryptocurrency
Tokenize Xchange USD finds support from accumulated volume at $12.42 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 a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.643 between high and low, or 5.19%. For the last week, the cryptocurrency has had daily average volatility of 8.60%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TKXUSD) For The Upcoming Trading Day Of Friday 7th
For the upcoming trading day on Friday, 7th we expect Tokenize Xchange USD to open at $12.70, and during the day (based on 14 day Average True Range), to move between $11.54 and $13.79, which gives a possible trading interval of +/-$1.13 (+/-8.88%) up or down from last closing price. If Tokenize Xchange USD takes out the full calculated possible swing range there will be an estimated 17.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.42 (1.96%) than the resistance at $15.47 (22.13%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tokenize Xchange USD cryptocurrency A Buy?
Tokenize Xchange 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.231 Sell Candidate Downgraded
Predicted Opening Price for Tokenize Xchange USD of Friday, June 7, 2024
| Fair opening price June 7, 2024 | Current price |
|---|---|
| $12.70 ( 0.248%) | $12.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TKXUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.34 | 5.33% |
| R2 | 13.10 | 3.39% |
| R1 | 12.95 | 2.19% |
| Price | 12.67 | |
| S1 | 12.45 | -1.69% |
| S2 | 12.30 | -2.89% |
| S3 | 12.06 | -4.83% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.75 | 24.32% |
| R2 | 15.64 | 23.48% |
| R1 | 15.47 | 22.13% |
| Price | 12.67 | |
| S1 | 12.42 | -1.96% |
| S2 | 11.71 | -7.54% |
| S3 | 11.67 | -7.91% |
FAQ
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