Avalaunch USD Cryptocurrency Forecast
Evaluation of Avalaunch USD cryptocurrency downgraded after the last trading session.
(Updated on May 18, 2024)
The Avalaunch USD cryptocurrency price fell by -0.617% on the last day (Saturday, 18th May 2024) from $0.795 to $0.790. During the last trading day the cryptocurrency fluctuated 3.41% from a day low at $0.778 to a day high of $0.80. The price has fallen in 5 of the last 10 days and is down by -6.65% 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 -87 thousand shares and in total, 397 thousand shares were bought and sold for approximately $313.88 thousand.
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.678 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -25.51% during the next 3 months and, with a 90% probability hold a price between $0.505 and $1.21 at the end of this 3-month period.
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XAVAUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has risen 12.31%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Avalaunch USD cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $0.90. On a fall, the cryptocurrency will find some support from the short-term average at $0.770. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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.
Support, Risk & Stop-loss for Avalaunch USD cryptocurrency
Avalaunch USD finds support from accumulated volume at $0.766 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency may move much during the day (volatility) and with periodic low trading volume this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0265 between high and low, or 3.41%. For the last week the cryptocurrency has had daily average volatility of 5.78%.
Avalaunch USD is oversold on RSI14 (24). Some cryptocurrencies may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (XAVAUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect Avalaunch USD to open at $0.790, and during the day (based on 14 day Average True Range), to move between $0.735 and $0.84, which gives a possible trading interval of +/-$0.0543 (+/-6.88%) up or down from last closing price. If Avalaunch USD 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 $0.766 (3.02%) than the resistance at $0.94 (19.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Avalaunch USD cryptocurrency A Buy?
Avalaunch USD holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.954 Sell Candidate Downgraded
Predicted Opening Price for Avalaunch USD of Sunday, May 19, 2024
| Fair opening price May 19, 2024 | Current price |
|---|---|
| $0.790 ( 0.102%) | $0.790 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XAVAUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.82 | 3.46 % | |
| R2 | 0.81 | 2.18 % | ||
| R1 | 0.80 | 1.38 % | ||
| Current price: | 0.790 | |||
| Support | S1 | 0.780 | -1.18 % | |
| S2 | 0.774 | -1.97 % | ||
| S3 | 0.764 | -3.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.97 | 22.27 % | |
| R2 | 0.95 | 20.30 % | ||
| R1 | 0.94 | 19.29 % | ||
| Current price | 0.790 | |||
| Support | S1 | 0.766 | -3.02% | |
| S2 | 0.766 | -3.04% | ||
| S3 | 0.703 | -10.96% |
FAQ
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