Project X USD Cryptocurrency Forecast
Is Project X USD cryptocurrency still a buy after falling -8.42% on Sunday?
(Updated on Jun 02, 2024)
The Project X USD cryptocurrency price fell by -8.42% on the last day (Sunday, 2nd Jun 2024) from $0.0008 to $0.0007. During the last trading day the cryptocurrency fluctuated 9.75% from a day low at $0.0007 to a day high of $0.0008. The price has fallen in 5 of the last 10 days and is down by -8.3% for this period. Volume has increased on the last day by 4 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, 23 thousand shares were bought and sold for approximately $16.66 .
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 -57.67% during the next 3 months and, with a 90% probability hold a price between $0.0002 and $0.0004 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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XILUSD 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 Project X 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 $0.0008 and $0.0009. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -27.03%. Further fall is indicated until a new bottom pivot has been found. Project X 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 Project X USD cryptocurrency
Project X USD finds support from accumulated volume at $0.0007 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.000071 between high and low, or 9.75%. For the last week, the cryptocurrency has had daily average volatility of 29.28%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (XILUSD) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Project X USD to open at $0.0008, and during the day (based on 14 day Average True Range), to move between $0.0006 and $0.0009, which gives a possible trading interval of +/-$0.0002 (+/-23.83%) up or down from last closing price. If Project X USD takes out the full calculated possible swing range there will be an estimated 47.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0007 (2.88%) than the resistance at $0.0008 (5.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Project X USD cryptocurrency A Buy?
Project X USD 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: -5.140 Strong Sell Candidate Unchanged
Predicted Opening Price for Project X USD of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $0.0008 ( 3.16%) | $0.0007 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XILUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0008 | 12.89 % | |
| R2 | 0.0008 | 9.17 % | ||
| R1 | 0.0008 | 6.88 % | ||
| Current price: | 0.0007 | |||
| Support | S1 | 0.0007 | -0.565 % | |
| S2 | 0.0007 | -2.86 % | ||
| S3 | 0.0007 | -6.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0009 | 21.12 % | |
| R2 | 0.0009 | 16.87 % | ||
| R1 | 0.0008 | 5.90 % | ||
| Current price | 0.0007 | |||
| Support | S1 | 0.0007 | -2.88% | |
| S2 | 0.0006 | -11.39% | ||
| S3 | 0.0006 | -16.46% |
FAQ
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