WAM USD Cryptocurrency Forecast
WAM USD cryptocurrency upgraded from Sell Candidate to Hold/Accumulate after Saturday trading session.
(Updated on May 25, 2024)
The WAM USD cryptocurrency price fell by -1.84% on the last day (Saturday, 25th May 2024) from $0.0060 to $0.0059. During the last trading day the cryptocurrency fluctuated 2.27% from a day low at $0.0059 to a day high of $0.0060. The price has fallen in 5 of the last 10 days and is down by -16.47% for this period. Volume has increased on the last day by 112 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 112 thousand shares were bought and sold for approximately $660.62 .
The cryptocurrency lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to fall -22.88% during the next 3 months and, with a 90% probability hold a price between $0.0030 and $0.0073 at the end of this 3-month period.
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WAMUSD Signals & Forecast
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. The WAM USD cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0061 and $0.0068. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -48.94%. Further fall is indicated until a new bottom pivot has been found. WAM USD gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for WAM USD cryptocurrency
There is no support from accumulated volume below today's level and given the right condition the cryptocurrency may perform very badly in the next couple of days.
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 $0.0001 between high and low, or 2.27%. For the last week, the cryptocurrency has had daily average volatility of 4.73%.
Our recommended stop-loss: $0.0056 (-5.24%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 70 days ago.)
Trading Expectations (WAMUSD) For The Upcoming Trading Day Of Sunday 26th
For the upcoming trading day on Sunday, 26th we expect WAM USD to open at $0.0059, and during the day (based on 14 day Average True Range), to move between $0.0055 and $0.0063, which gives a possible trading interval of +/-$0.0004 (+/-7.11%) up or down from last closing price. If WAM USD takes out the full calculated possible swing range there will be an estimated 14.21% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.0062, some $0.0004 (6.13%) from the current price of $0.0059, our system finds the risk reward not very attractive.
Is WAM USD cryptocurrency A Buy?
WAM USD holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for WAM USD of Sunday, May 26, 2024
Fair opening price May 26, 2024 | Current price |
---|---|
$0.0059 ( 0.675%) | $0.0059 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WAMUSD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0060 | 2.94 % | |
R2 | 0.0060 | 2.07 % | ||
R1 | 0.0060 | 1.54 % | ||
Current price: | 0.0059 | |||
Support | S1 | 0.0059 | -0.190 % | |
S2 | 0.0058 | -0.724 % | ||
S3 | 0.0058 | -1.59 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0071 | 20.66 % | |
R2 | 0.0066 | 12.15 % | ||
R1 | 0.0062 | 6.13 % | ||
Current price | 0.0059 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
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