Cryptonite Cryptocurrency Forecast

Cryptonite cryptocurrency price down 1.61% on Wednesday
(Updated on Jun 26, 2024)

XCNUSD Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 3.04%. 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 Cryptonite 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 $0.0006 and $0.0007. A break-up above any of these levels will issue buy signals. 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.

Support, Risk & Stop-loss for Cryptonite cryptocurrency

Cryptonite finds support from accumulated volume at $0.0006 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 $0.000017 between high and low, or 2.80%. For the last week the cryptocurrency has had daily average volatility of 2.99%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (XCNUSD) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Cryptonite to open at $0.0006, and during the day (based on 14 day Average True Range), to move between $0.0006 and $0.0006, which gives a possible trading interval of +/-$0.00001907 (+/-3.13%) up or down from last closing price. If Cryptonite takes out the full calculated possible swing range there will be an estimated 6.25% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0006 (1.15%) than the resistance at $0.0006 (5.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Cryptonite cryptocurrency A Buy?

Cryptonite holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this cryptocurrency.

Current score: -3.781 Sell Candidate Unchanged

Predicted Opening Price for Cryptonite of Thursday, June 27, 2024

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