Pontoon USD Cryptocurrency Forecast
Weaker technical forecast for Pontoon USD as cryptocurrency downgraded to Hold/Accumulate.
(Updated on May 02, 2024)
No changes to the price of Pontoon USD cryptocurrency on the last trading day (Thursday, 2nd May 2024). During the last trading day the cryptocurrency fluctuated 1.09% from a day low at $0.0012 to a day high of $0.0012. The price has fallen in 4 of the last 10 days but is still up by 6.28% over the past 2 weeks.
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 $0.0012 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the cryptocurrency is expected to fall -6.94% during the next 3 months and, with a 90% probability hold a price between $0.0006 and $0.0011 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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TOONUSD Signals & Forecast
The Pontoon 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 $0.0012 and $0.0010. 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). 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 Tuesday, April 30, 2024, and so far it has fallen -1.96%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Pontoon USD cryptocurrency
Pontoon USD finds support from accumulated volume at $0.0012 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 periodic low trading volume this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.000013 between high and low, or 1.09%. For the last week the cryptocurrency has had daily average volatility of 2.95%.
The Pontoon USD cryptocurrency is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some cryptocurrencies may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the cryptocurrency manages to break the trend before that occurs.
Our recommended stop-loss: $0.0012 (-4.03%) (This cryptocurrency has very high daily movements and this gives very high risk. The RSI14 is 84 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (TOONUSD) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Pontoon USD to open at $0.0012, and during the day (based on 14 day Average True Range), to move between $0.0010 and $0.0014, which gives a possible trading interval of +/-$0.0002 (+/-12.59%) up or down from last closing price. If Pontoon USD takes out the full calculated possible swing range there will be an estimated 25.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0012 (0.67%) than the resistance at $0.0012 (1.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Pontoon USD cryptocurrency A Buy?
Pontoon USD holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: 0.758 Hold/Accumulate Downgraded
Predicted Opening Price for Pontoon USD of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.0012 ( 0.139%) | $0.0012 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TOONUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0012 | 0.94 % | |
| R2 | 0.0012 | 0.530 % | ||
| R1 | 0.0012 | 0.275 % | ||
| Current price: | 0.0012 | |||
| Support | S1 | 0.0012 | -0.552 % | |
| S2 | 0.0012 | -0.81 % | ||
| S3 | 0.0012 | -1.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.0012 | 2.00 % | ||
| R1 | 0.0012 | 1.50 % | ||
| Current price | 0.0012 | |||
| Support | S1 | 0.0012 | -0.666% | |
| S2 | 0.0011 | -5.91% | ||
| S3 | 0.0009 | -21.48% |
FAQ
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