Pontoon USD Cryptocurrency Forecast
Pontoon USD cryptocurrency upgraded from Hold/Accumulate to Buy Candidate after Monday trading session.
(Updated on May 20, 2024)
The Pontoon USD cryptocurrency price gained 0.0844% on the last trading day (Monday, 20th May 2024), rising from $0.0012 to $0.0012. During the last trading day the cryptocurrency fluctuated 1.10% from a day low at $0.0012 to a day high of $0.0012. The price has risen in 6 of the last 10 days and is up by 0.17% over the past 2 weeks. Volume fell on the last day by -4 thousand shares and in total, 138 thousand shares were bought and sold for approximately $163.19 . You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The cryptocurrency lies in the upper part of a very wide and strong rising 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 $0.0013 will firstly indicate a stronger rate of rising. Given the current short-term trend, the cryptocurrency is expected to rise 24.49% during the next 3 months and, with a 90% probability hold a price between $0.0009 and $0.0016 at the end of this 3-month period.
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TOONUSD Signals & Forecast
A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -3.18%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Pontoon 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 $0.0012. On a fall, the cryptocurrency will find some support from the long-term average at approximately $0.0011. 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.
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.
In general the cryptocurrency tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the cryptocurrency During the last day, the cryptocurrency moved $0.000013 between high and low, or 1.10%. For the last week the cryptocurrency has had daily average volatility of 0.83%
Our recommended stop-loss: $0.0011 (-4.78%) (This cryptocurrency has low daily movements and this gives low risk. There is a sell signal from a pivot top found 41 days ago.)
Trading Expectations (TOONUSD) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Pontoon USD to open at $0.0012, and during the day (based on 14 day Average True Range), to move between $0.0011 and $0.0012, which gives a possible trading interval of +/-$0.00004839 (+/-4.08%) up or down from last closing price. If Pontoon USD takes out the full calculated possible swing range there will be an estimated 8.16% 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 (0.25%) than the resistance at $0.0012 (0.34%), 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?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.221 Buy Candidate Upgraded
Predicted Opening Price for Pontoon USD of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $0.0012 ( 0.0843%) | $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 | 1.18 % | |
| R2 | 0.0012 | 0.762 % | ||
| R1 | 0.0012 | 0.503 % | ||
| Current price: | 0.0012 | |||
| Support | S1 | 0.0012 | -0.334 % | |
| S2 | 0.0012 | -0.593 % | ||
| S3 | 0.0012 | -1.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0012 | 2.78 % | |
| R2 | 0.0012 | 0.590 % | ||
| R1 | 0.0012 | 0.337 % | ||
| Current price | 0.0012 | |||
| Support | S1 | 0.0012 | -0.253% | |
| S2 | 0.0011 | -4.72% | ||
| S3 | 0.0009 | -20.49% |
FAQ
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