DigitalCash / Dollar Cryptocurrency Forecast
DigitalCash / Dollar cryptocurrency upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Apr 18, 2024)
The DigitalCash / Dollar cryptocurrency price gained 4.13% on the last trading day (Thursday, 18th Apr 2024), rising from $27.84 to $28.99. During the last trading day the cryptocurrency fluctuated 7.80% from a day low at $27.06 to a day high of $29.17. The price has fallen in 7 of the last 10 days and is down by -26.16% for this period. 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, 44 million shares were bought and sold for approximately $1.26 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 $28.06 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 29.93% during the next 3 months and, with a 90% probability hold a price between $36.45 and $62.31 at the end of this 3-month period.
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DASHUSD Signals & Forecast
The DigitalCash / 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 $29.67 and $35.74. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 4.24%. 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.
Support, Risk & Stop-loss for DigitalCash / Dollar cryptocurrency
DigitalCash / Dollar finds support from accumulated volume at $28.10 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $2.11 between high and low, or 7.80%. For the last week, the cryptocurrency has had daily average volatility of 8.78%.
Our recommended stop-loss: $27.56 (-4.93%) (This cryptocurrency has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (DASHUSD) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect DigitalCash / Dollar to open at $28.41, and during the day (based on 14 day Average True Range), to move between $25.48 and $32.50, which gives a possible trading interval of +/-$3.51 (+/-12.11%) up or down from last closing price. If DigitalCash / Dollar takes out the full calculated possible swing range there will be an estimated 24.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $29.54 (1.90%) than the support at $28.10 (3.07%), 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 DigitalCash / Dollar cryptocurrency A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.127 Buy Candidate Upgraded
Predicted Opening Price for DigitalCash / Dollar of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $28.41 ( 2.01%) | $28.99 |
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 | 30.52 | 5.27 % | |
| R2 | 29.71 | 2.49 % | ||
| R1 | 29.21 | 0.768 % | ||
| Current price: | 28.99 | |||
| Support | S1 | 27.60 | -4.79 % | |
| S2 | 27.10 | -6.51 % | ||
| S3 | 26.30 | -9.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.06 | 20.94 % | |
| R2 | 32.09 | 10.69 % | ||
| R1 | 29.54 | 1.90 % | ||
| Current price | 28.99 | |||
| Support | S1 | 28.10 | -3.07% | |
| S2 | 27.81 | -4.07% | ||
| S3 | 27.57 | -4.90% |
FAQ
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