PetroDollar / US Dollar Cryptocurrency Forecast
Evaluation of PetroDollar / US Dollar cryptocurrency downgraded after the last trading session.
(Updated on May 02, 2024)
The PetroDollar / US Dollar cryptocurrency price fell by -1.47% on the last day (Thursday, 2nd May 2024) from $952.00 to $938.00. It has now fallen 3 days in a row. During the last trading day the cryptocurrency fluctuated 0% from a day low at $938.00 to a day high of $938.00. The price has fallen in 6 of the last 10 days and is down by -7.81% for this period.
The cryptocurrency lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $937.46 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 8.41% during the next 3 months and, with a 90% probability hold a price between $1,016.30 and $1,220.60 at the end of this 3-month period.
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XPDUSD Signals & Forecast
There are few to no technical positive signals at the moment. The PetroDollar / 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 $959.29 and $1,017.67. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -14.88%. Further fall is indicated until a new bottom pivot has been found. 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 PetroDollar / US Dollar cryptocurrency
PetroDollar / US Dollar finds support from accumulated volume at $936.50 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 between high and low, or 0%. For the last week the cryptocurrency has had daily average volatility of 1.03%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (XPDUSD) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect PetroDollar / US Dollar to open at $938.00, and during the day (based on 14 day Average True Range), to move between $920.50 and $955.50, which gives a possible trading interval of +/-$17.50 (+/-1.87%) up or down from last closing price. If PetroDollar / US Dollar takes out the full calculated possible swing range there will be an estimated 3.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $936.50 (0.16%) than the resistance at $950.00 (1.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is PetroDollar / US Dollar cryptocurrency A Buy?
The PetroDollar / US Dollar cryptocurrency holds several negative signals and despite the positive trend, we believe PetroDollar / US Dollar will perform weakly in the next couple of days or weeks. Therefore, we 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: -1.191 Sell Candidate Downgraded
Predicted Opening Price for PetroDollar / US Dollar of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $938.00 ( 0%) | $938.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XPDUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 938.00 | . | |
| R2 | 938.00 | . | ||
| R1 | 938.00 | . | ||
| Current price: | 938.00 | |||
| Support | S1 | 938.00 | . | |
| S2 | 938.00 | . | ||
| S3 | 938.00 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 988.50 | 5.38 % | |
| R2 | 978.00 | 4.26 % | ||
| R1 | 950.00 | 1.28 % | ||
| Current price | 938.00 | |||
| Support | S1 | 936.50 | -0.160% | |
| S2 | 920.50 | -1.87% | ||
| S3 | 897.00 | -4.37% |
FAQ
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