Primecoin Cryptocurrency Forecast

Primecoin cryptocurrency price ended at $0.0271 on Friday, after losing 3.71%.
(Updated on May 31, 2024)

XPMUSD Signals & Forecast

The Primecoin cryptocurrency holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the cryptocurrency giving a positive forecast for the stock. On further gains, the cryptocurrency will meet resistance from the short-term Moving Average at approximately $0.0277. On a fall, the cryptocurrency will find some support from the long-term average at approximately $0.0262. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -8.75%. 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 Primecoin cryptocurrency

Primecoin finds support from accumulated volume at $0.0264 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 $0.0015 between high and low, or 5.48%. For the last week the cryptocurrency has had daily average volatility of 4.08%.

Our recommended stop-loss: $0.0254 (-5.96%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 71 days ago.)

Trading Expectations (XPMUSD) For The Upcoming Trading Day Of Saturday 1st

For the upcoming trading day on Saturday, 1st we expect Primecoin to open at $0.0273, and during the day (based on 14 day Average True Range), to move between $0.0260 and $0.0282, which gives a possible trading interval of +/-$0.0011 (+/-4.06%) up or down from last closing price. If Primecoin takes out the full calculated possible swing range there will be an estimated 8.12% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0264 (2.60%) than the resistance at $0.0279 (3.25%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Primecoin cryptocurrency A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Primecoin cryptocurrency to perform well in the short-term period.

Current score: 1.700 Buy Candidate Unchanged

Predicted Opening Price for Primecoin of Saturday, June 1, 2024

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