XinFin Network / US Dollar Cryptocurrency Forecast
XinFin Network / US Dollar cryptocurrency downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The XinFin Network / US Dollar cryptocurrency price fell by -1.96% on the last day (Thursday, 25th Apr 2024) from $0.0399 to $0.0391. During the last trading day the cryptocurrency fluctuated 2.84% from a day low at $0.0391 to a day high of $0.0402. The price has been going up and down for this period, and there has been a 3.5% gain for the last 2 weeks. 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 -2 million shares and in total, 8 million shares were bought and sold for approximately $296.48 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 $0.0361 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -3.32% during the next 3 months and, with a 90% probability hold a price between $0.0349 and $0.0523 at the end of this 3-month period.
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XDCUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. The XinFin Network / US Dollar 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 $0.0392 and $0.0435. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Sunday, April 14, 2024, and so far it has risen 7.65%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for XinFin Network / US Dollar cryptocurrency
XinFin Network / US Dollar finds support from accumulated volume at $0.0390 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 $0.0011 between high and low, or 2.84%. For the last week the cryptocurrency has had daily average volatility of 7.23%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (XDCUSD) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect XinFin Network / US Dollar to open at $0.0394, and during the day (based on 14 day Average True Range), to move between $0.0368 and $0.0414, which gives a possible trading interval of +/-$0.0023 (+/-5.81%) up or down from last closing price. If XinFin Network / US Dollar takes out the full calculated possible swing range there will be an estimated 11.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0390 (0.28%) than the resistance at $0.0428 (9.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is XinFin Network / US Dollar cryptocurrency A Buy?
XinFin Network / US Dollar 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: -3.145 Sell Candidate Downgraded
Predicted Opening Price for XinFin Network / US Dollar of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.0394 ( 0.88%) | $0.0391 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XDCUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0406 | 3.72 % | |
| R2 | 0.0401 | 2.63 % | ||
| R1 | 0.0399 | 1.96 % | ||
| Current price: | 0.0391 | |||
| Support | S1 | 0.0390 | -0.206 % | |
| S2 | 0.0388 | -0.88 % | ||
| S3 | 0.0383 | -1.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0458 | 17.22 % | |
| R2 | 0.0450 | 15.04 % | ||
| R1 | 0.0428 | 9.54 % | ||
| Current price | 0.0391 | |||
| Support | S1 | 0.0390 | -0.279% | |
| S2 | 0.0378 | -3.38% | ||
| S3 | 0.0363 | -7.11% |
FAQ
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