Uquid Coin USD Cryptocurrency Forecast
Uquid Coin USD cryptocurrency downgraded to Hold/Accumulate
(Updated on May 30, 2024)
The Uquid Coin USD cryptocurrency price fell by -0.671% on the last day (Thursday, 30th May 2024) from $7.27 to $7.22. It has now fallen 4 days in a row. During the last trading day the cryptocurrency fluctuated 2.63% from a day low at $7.18 to a day high of $7.37. The price has fallen in 7 of the last 10 days and is down by -8.68% 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 -141 thousand shares and in total, 490 thousand shares were bought and sold for approximately $3.54 million.
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 $7.94 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 -26.63% during the next 3 months and, with a 90% probability hold a price between $2.99 and $5.83 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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UQCUSD Signals & Forecast
The Uquid Coin 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 $7.52. On a fall, the cryptocurrency will find some support from the long-term average at approximately $7.17. 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. 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, May 22, 2024, and so far it has fallen -11.96%. 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 Uquid Coin USD cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $6.69 and $6.32. 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, Uquid Coin USD finds support just below today's level at $6.69. If this is broken, then the next support from accumulated volume will be at $6.32 and $6.26.
This cryptocurrency has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.189 between high and low, or 2.63%. For the last week, the cryptocurrency has had daily average volatility of 3.21%.
Our recommended stop-loss: $6.78 (-6.04%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 40 days ago.)
Trading Expectations (UQCUSD) For The Upcoming Trading Day Of Friday 31st
For the upcoming trading day on Friday, 31st we expect Uquid Coin USD to open at $7.26, and during the day (based on 14 day Average True Range), to move between $6.85 and $7.59, which gives a possible trading interval of +/-$0.370 (+/-5.13%) up or down from last closing price. If Uquid Coin USD takes out the full calculated possible swing range there will be an estimated 10.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.25 (0.40%) than the support at $6.69 (7.26%), 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 Uquid Coin USD cryptocurrency A Buy?
Uquid Coin 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: -0.145 Hold/Accumulate Downgraded
Predicted Opening Price for Uquid Coin USD of Friday, May 31, 2024
| Fair opening price May 31, 2024 | Current price |
|---|---|
| $7.26 ( 0.518%) | $7.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UQCUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.44 | 3.13 % | |
| R2 | 7.37 | 2.13 % | ||
| R1 | 7.33 | 1.52 % | ||
| Current price: | 7.22 | |||
| Support | S1 | 7.18 | -0.480 % | |
| S2 | 7.14 | -1.10 % | ||
| S3 | 7.07 | -2.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.02 | 24.94 % | |
| R2 | 7.72 | 6.99 % | ||
| R1 | 7.25 | 0.395 % | ||
| Current price | 7.22 | |||
| Support | S1 | 6.69 | -7.26% | |
| S2 | 6.32 | -12.51% | ||
| S3 | 6.26 | -13.23% |
FAQ
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