1inch / US Dollar Cryptocurrency Forecast
Red day on Saturday for 1inch / US Dollar cryptocurrency after losing 0.250%
(Updated on May 11, 2024)
The 1inch / US Dollar cryptocurrency price fell by -0.250% on the last day (Saturday, 11th May 2024) from $0.360 to $0.359. During the last trading day the cryptocurrency fluctuated 7.43% from a day low at $0.358 to a day high of $0.385. The price has been going up and down for this period, and there has been a -7.62% loss for the last 2 weeks. Volume fell on the last day along with the cryptocurrency, which is actually a good sign as volume should follow the cryptocurrency. On the last day, the trading volume fell by -21 million shares and in total, 3 million shares were bought and sold for approximately $966.21 thousand.
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.310 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -17.79% during the next 3 months and, with a 90% probability hold a price between $0.254 and $0.488 at the end of this 3-month period.
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1INCHUSD Signals & Forecast
There are few to no technical positive signals at the moment. The 1inch / 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 $0.375 and $0.434. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -47.11%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this cryptocurrency may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for 1inch / US Dollar cryptocurrency
There is no support from accumulated volume below today's level and given the right condition the cryptocurrency may perform very badly in the next couple of days.
This cryptocurrency may move much during the day (volatility) and with periodic low trading volume this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0266 between high and low, or 7.43%. For the last week the cryptocurrency has had daily average volatility of 6.34%.
1inch / US Dollar is oversold on RSI14 (19). Some cryptocurrencies may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1INCHUSD) For The Upcoming Trading Day Of Sunday 12th
For the upcoming trading day on Sunday, 12th we expect 1inch / US Dollar to open at $0.367, and during the day (based on 14 day Average True Range), to move between $0.325 and $0.393, which gives a possible trading interval of +/-$0.0337 (+/-9.39%) up or down from last closing price. If 1inch / US Dollar takes out the full calculated possible swing range there will be an estimated 18.79% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.371, some $0.0119 (3.31%) from the current price of $0.359, our system finds the risk reward not very attractive.
Is 1inch / US Dollar cryptocurrency A Buy?
1inch / US Dollar holds several negative signals and is within a very wide 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.
Current score: -5.380 Strong Sell Candidate Unchanged
Predicted Opening Price for 1inch / US Dollar of Sunday, May 12, 2024
| Fair opening price May 12, 2024 | Current price |
|---|---|
| $0.367 ( 2.28%) | $0.359 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1INCHUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.394 | 9.69 % | |
| R2 | 0.384 | 6.86 % | ||
| R1 | 0.377 | 5.11 % | ||
| Current price: | 0.359 | |||
| Support | S1 | 0.357 | -0.546 % | |
| S2 | 0.351 | -2.29 % | ||
| S3 | 0.341 | -5.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.444 | 23.64 % | |
| R2 | 0.409 | 13.90 % | ||
| R1 | 0.371 | 3.31 % | ||
| Current price | 0.359 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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