Vertcoin Cryptocurrency Forecast
Volatile ride for Vertcoin cryptocurrency price on Monday moving between $0.0596 and $0.0731
(Updated on May 20, 2024)
The Vertcoin cryptocurrency price gained 7.95% on the last trading day (Monday, 20th May 2024), rising from $0.0603 to $0.0651. During the last trading day the cryptocurrency fluctuated 22.76% from a day low at $0.0596 to a day high of $0.0731. The price has risen in 5 of the last 10 days and is up by 13.21% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 thousand more shares were traded than the day before. In total, 20 thousand shares were bought and sold for approximately $1.27 thousand.
The cryptocurrency has broken the very wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $0.0647, a level that may pose a second chance to hit a runner. According to fan-theory $0.0884 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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VTCUSD Signals & Forecast
The Vertcoin 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 $0.0609 and $0.0559. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 62.76%. Further rise is indicated until a new top pivot has been found. Vertcoin has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Vertcoin cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0608 and $0.0541. 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, Vertcoin finds support just below today's level at $0.0608. If this is broken, then the next support from accumulated volume will be at $0.0541 and $0.0534.
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 $0.0136 between high and low, or 22.76%. For the last week, the cryptocurrency has had daily average volatility of 9.89%.
Our recommended stop-loss: $0.0627 (-3.74%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 77 days ago.)
Trading Expectations (VTCUSD) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Vertcoin to open at $0.0659, and during the day (based on 14 day Average True Range), to move between $0.0589 and $0.0713, which gives a possible trading interval of +/-$0.0062 (+/-9.51%) up or down from last closing price. If Vertcoin takes out the full calculated possible swing range there will be an estimated 19.01% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.0608, some $0.0043 (6.58%) from the current price of $0.0651, our system finds the risk reward attractive.
Is Vertcoin cryptocurrency A Buy?
Vertcoin holds several positive signals and has broken the weak rising trend up. As the cryptocurrency is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.938 Strong Buy Candidate Upgraded
Predicted Opening Price for Vertcoin of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $0.0659 ( 1.25%) | $0.0651 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VTCUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0795 | 22.07 % | |
| R2 | 0.0743 | 14.12 % | ||
| R1 | 0.0711 | 9.20 % | ||
| Current price: | 0.0651 | |||
| Support | S1 | 0.0607 | -6.70 % | |
| S2 | 0.0575 | -11.62 % | ||
| S3 | 0.0524 | -19.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.0651 | |||
| Support | S1 | 0.0608 | -6.58% | |
| S2 | 0.0541 | -16.91% | ||
| S3 | 0.0534 | -17.95% |
FAQ
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