Zambesigold USD Cryptocurrency Forecast

High volatility in Zambesigold USD cryptocurrency price on Tuesday which ended trading at $0.217
(Updated on May 07, 2024)

ZGDUSD Signals & Forecast

The Zambesigold USD cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.167 and $0.0989. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 287.28%. 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). Zambesigold USD has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Zambesigold USD cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.174 and $0.174. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, Zambesigold USD finds support just below today's level at $0.174. If this is broken, then the next support from accumulated volume will be at $0.174 and $0.169.

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 $0.0321 between high and low, or 17.37%. For the last week, the cryptocurrency has had daily average volatility of 13.08%.

The Zambesigold USD cryptocurrency is extremely overbought on RSI14 (97). Normally this may pose a good selling opportunity but since the cryptocurrency has broken the trend up, the chance for a major correction due to high RSI is very small as the cryptocurrency will find support at the trend broken.

Our recommended stop-loss: $0.210 (-3.06%) (This cryptocurrency has very high daily movements and this gives very high risk. The RSI14 is 97 and this increases the risk substantially. There is a buy signal from a pivot bottom found 18 days ago.)

Trading Expectations (ZGDUSD) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect Zambesigold USD to open at $0.206, and during the day (based on 14 day Average True Range), to move between $0.199 and $0.235, which gives a possible trading interval of +/-$0.0181 (+/-8.33%) up or down from last closing price. If Zambesigold USD takes out the full calculated possible swing range there will be an estimated 16.66% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $0.174, some $0.0428 (19.74%) from the current price of $0.217, our system finds the risk reward attractive.

Is Zambesigold USD cryptocurrency A Buy?

Zambesigold USD holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Zambesigold USD of Wednesday, May 8, 2024

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