VerusCoin / US Dollar Cryptocurrency Forecast

Evaluation of VerusCoin / US Dollar cryptocurrency downgraded after the last trading session.
(Updated on Jun 25, 2024)

VRSCUSD Signals & Forecast

The VerusCoin / US Dollar 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 $1.15 and $1.06. 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 Monday, June 17, 2024, and so far it has fallen -4.83%. 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 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. The cryptocurrency had a Golden Star Signal on Sunday, September 17, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the cryptocurrency in question.

Support, Risk & Stop-loss for VerusCoin / US Dollar cryptocurrency

VerusCoin / US Dollar finds support from accumulated volume at $1.19 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This cryptocurrency has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the cryptocurrency moved $0.0248 between high and low, or 2.10%. For the last week the cryptocurrency has had daily average volatility of 4.38%.

Our recommended stop-loss: $1.12 (-5.88%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 42 days ago.)

Trading Expectations (VRSCUSD) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect VerusCoin / US Dollar to open at $1.19, and during the day (based on 14 day Average True Range), to move between $1.11 and $1.27, which gives a possible trading interval of +/-$0.0817 (+/-6.88%) up or down from last closing price. If VerusCoin / US Dollar takes out the full calculated possible swing range there will be an estimated 13.76% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $1.19 (0.13%) than the resistance at $1.20 (0.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is VerusCoin / US Dollar cryptocurrency A Buy?

VerusCoin / US Dollar 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: -0.776 Hold/Accumulate Downgraded

Predicted Opening Price for VerusCoin / US Dollar of Wednesday, June 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.