DigitalCash / Dollar Cryptocurrency Forecast
DigitalCash / Dollar cryptocurrency upgraded from Hold/Accumulate to Buy Candidate after Monday trading session.
(Updated on Apr 22, 2024)
The DigitalCash / Dollar cryptocurrency price gained 0.93% on the last trading day (Monday, 22nd Apr 2024), rising from $31.30 to $31.59. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the cryptocurrency fluctuated 3.99% from a day low at $30.65 to a day high of $31.87. The price has been going up and down for this period, and there has been a -1.56% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 41 million more shares were traded than the day before. In total, 43 million shares were bought and sold for approximately $1.37 billion.
The cryptocurrency lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $28.42 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 24.01% during the next 3 months and, with a 90% probability hold a price between $35.25 and $59.04 at the end of this 3-month period.
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DASHUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 13.59%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The DigitalCash / Dollar cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $34.94. On a fall, the cryptocurrency will find some support from the short-term average at $29.68. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for DigitalCash / Dollar cryptocurrency
DigitalCash / Dollar finds support from accumulated volume at $30.80 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 $1.22 between high and low, or 3.99%. For the last week, the cryptocurrency has had daily average volatility of 6.85%.
Our recommended stop-loss: $30.17 (-4.50%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (DASHUSD) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect DigitalCash / Dollar to open at $31.37, and during the day (based on 14 day Average True Range), to move between $28.47 and $34.71, which gives a possible trading interval of +/-$3.12 (+/-9.86%) up or down from last closing price. If DigitalCash / Dollar takes out the full calculated possible swing range there will be an estimated 19.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $30.80 (2.50%) than the resistance at $35.06 (10.98%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is DigitalCash / Dollar cryptocurrency A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for DigitalCash / Dollar cryptocurrency to perform well in the short-term. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.480 Buy Candidate Upgraded
Predicted Opening Price for DigitalCash / Dollar of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $31.37 ( 0.692%) | $31.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DASHUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.60 | 3.18 % | |
| R2 | 32.13 | 1.70 % | ||
| R1 | 31.84 | 0.788 % | ||
| Current price: | 31.59 | |||
| Support | S1 | 30.90 | -2.17 % | |
| S2 | 30.61 | -3.09 % | ||
| S3 | 30.15 | -4.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 38.18 | 20.86 % | |
| R2 | 38.01 | 20.32 % | ||
| R1 | 35.06 | 10.98 % | ||
| Current price | 31.59 | |||
| Support | S1 | 30.80 | -2.50% | |
| S2 | 29.54 | -6.49% | ||
| S3 | 28.10 | -11.05% |
FAQ
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