DigitalCash / Dollar Cryptocurrency Forecast
DigitalCash / Dollar cryptocurrency upgraded to Buy Candidate.
(Updated on Mar 28, 2024)
The DigitalCash / Dollar cryptocurrency price gained 0.0766% on the last trading day (Thursday, 28th Mar 2024), rising from $37.88 to $37.91. During the last trading day the cryptocurrency fluctuated 8.92% from a day low at $36.00 to a day high of $39.21. The price has been going up and down for this period, and there has been a 1.12% gain for the last 2 weeks. Volume fell on the last day by -64 million shares and in total, 5 million shares were bought and sold for approximately $196.13 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The cryptocurrency lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to rise 32.17% during the next 3 months and, with a 90% probability hold a price between $43.06 and $59.97 at the end of this 3-month period.
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DASHUSD Signals & Forecast
The DigitalCash / Dollar 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 $37.18 and $36.48. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 20, 2024, and so far it has risen 12.33%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The cryptocurrency should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for DigitalCash / Dollar cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $33.04 and $29.49. 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, DigitalCash / Dollar finds support just below today's level at $33.04. If this is broken, then the next support from accumulated volume will be at $29.49 and $29.00.
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 $3.21 between high and low, or 8.92%. For the last week, the cryptocurrency has had daily average volatility of 6.30%.
Our recommended stop-loss: $36.46 (-3.82%) (This cryptocurrency has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (DASHUSD) For The Upcoming Trading Day Of Friday 29th
For the upcoming trading day on Friday, 29th we expect DigitalCash / Dollar to open at $37.71, and during the day (based on 14 day Average True Range), to move between $34.64 and $41.18, which gives a possible trading interval of +/-$3.27 (+/-8.61%) up or down from last closing price. If DigitalCash / Dollar takes out the full calculated possible swing range there will be an estimated 17.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $38.01 (0.26%) than the support at $33.04 (12.85%), 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 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: 1.229 Buy Candidate Upgraded
Predicted Opening Price for DigitalCash / Dollar of Friday, March 29, 2024
Fair opening price March 29, 2024 | Current price |
---|---|
$37.71 ( 0.536%) | $37.91 |
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 | 40.92 | 7.93 % | |
R2 | 39.69 | 4.70 % | ||
R1 | 38.93 | 2.70 % | ||
Current price: | 37.91 | |||
Support | S1 | 36.48 | -3.77 % | |
S2 | 35.72 | -5.77 % | ||
S3 | 34.50 | -9.00 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 43.41 | 14.51 % | |
R2 | 38.18 | 0.712 % | ||
R1 | 38.01 | 0.264 % | ||
Current price | 37.91 | |||
Support | S1 | 33.04 | -12.85% | |
S2 | 29.49 | -22.21% | ||
S3 | 29.00 | -23.50% |
FAQ
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