XSGD / US Dollar Cryptocurrency Forecast
Evaluation of XSGD / US Dollar cryptocurrency downgraded after the last trading session.
(Updated on Jun 26, 2024)
The XSGD / US Dollar cryptocurrency price fell by -0.243% on the last day (Wednesday, 26th Jun 2024) from $0.737 to $0.735. During the last trading day the cryptocurrency fluctuated 0.306% from a day low at $0.735 to a day high of $0.737. The price has been going up and down for this period, and there has been a -0.1% loss for the last 2 weeks. Volume has increased on the last day by 13 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, 427 thousand shares were bought and sold for approximately $314.22 thousand.
The cryptocurrency is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect XSGD / US Dollar cryptocurrency with a 90% probability to be traded between $0.736 and $0.752 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and cryptocurrencies seldom manage to go directly from the bottom of a trend up to the top. Cryptocurrencies turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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XSGDUSD 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 XSGD / 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 $0.737 and $0.740. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -1.43%. Further fall is indicated until a new bottom pivot has been found. XSGD / US Dollar 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".
Support, Risk & Stop-loss for XSGD / US Dollar cryptocurrency
XSGD / US Dollar finds support from accumulated volume at $0.731 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the cryptocurrency tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the cryptocurrency moved $0.0023 between high and low, or 0.306%. For the last week the cryptocurrency has had daily average volatility of 0.292%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (XSGDUSD) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect XSGD / US Dollar to open at $0.736, and during the day (based on 14 day Average True Range), to move between $0.733 and $0.738, which gives a possible trading interval of +/-$0.0028 (+/-0.39%) up or down from last closing price. If XSGD / US Dollar takes out the full calculated possible swing range there will be an estimated 0.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.737 (0.24%) than the support at $0.731 (0.62%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is XSGD / US Dollar cryptocurrency A Buy?
XSGD / US Dollar holds several negative signals and is within a narrow 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Buy to a Sell candidate.
Current score: -2.134 Sell Candidate Downgraded
Predicted Opening Price for XSGD / US Dollar of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $0.736 ( 0.0811%) | $0.735 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XSGDUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.738 | 0.387% |
| R2 | 0.737 | 0.270% |
| R1 | 0.737 | 0.198% |
| Price | 0.735 | |
| S1 | 0.735 | -0.0357% |
| S2 | 0.735 | -0.108% |
| S3 | 0.734 | -0.225% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.746 | 1.44% |
| R2 | 0.740 | 0.634% |
| R1 | 0.737 | 0.243% |
| Price | 0.735 | |
| S1 | 0.731 | -0.620% |
| S2 | 0.729 | -0.93% |
| S3 | 0.728 | -0.97% |
FAQ
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