Alpha Finance Lab / US Dollar Cryptocurrency Forecast
Red day on Tuesday for Alpha Finance Lab / US Dollar cryptocurrency after losing 2.67%
(Updated on May 07, 2024)
The Alpha Finance Lab / US Dollar cryptocurrency price fell by -2.67% on the last day (Tuesday, 7th May 2024) from $0.113 to $0.110. During the last trading day the cryptocurrency fluctuated 5.94% from a day low at $0.109 to a day high of $0.116. The price has fallen in 7 of the last 10 days and is down by -6.17% for this period. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately $373.94 thousand.
The cryptocurrency lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to fall -3.38% during the next 3 months and, with a 90% probability hold a price between $0.0849 and $0.189 at the end of this 3-month period.
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ALPHAUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. The Alpha Finance Lab / US 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 $0.130. On a fall, the cryptocurrency will find some support from the short-term average at $0.109. 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. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -45.11%. Further fall is indicated until a new bottom pivot has been found. Alpha Finance Lab / US Dollar gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Alpha Finance Lab / US Dollar cryptocurrency
Alpha Finance Lab / US Dollar finds support from accumulated volume at $0.106 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.0065 between high and low, or 5.94%. For the last week, the cryptocurrency has had daily average volatility of 5.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ALPHAUSD) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Alpha Finance Lab / US Dollar to open at $0.112, and during the day (based on 14 day Average True Range), to move between $0.0994 and $0.120, which gives a possible trading interval of +/-$0.0101 (+/-9.26%) up or down from last closing price. If Alpha Finance Lab / US Dollar takes out the full calculated possible swing range there will be an estimated 18.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.106 (3.65%) than the resistance at $0.114 (3.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Alpha Finance Lab / US Dollar cryptocurrency A Buy?
Alpha Finance Lab / US Dollar holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency.
Current score: -4.806 Sell Candidate Unchanged
Predicted Opening Price for Alpha Finance Lab / US Dollar of Wednesday, May 8, 2024
Fair opening price May 8, 2024 | Current price |
---|---|
$0.112 ( 1.92%) | $0.110 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALPHAUSD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.118 | 7.85 % | |
R2 | 0.116 | 5.59 % | ||
R1 | 0.114 | 4.19 % | ||
Current price: | 0.110 | |||
Support | S1 | 0.109 | -0.350 % | |
S2 | 0.108 | -1.75 % | ||
S3 | 0.105 | -4.02 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.132 | 20.27 % | |
R2 | 0.127 | 16.35 % | ||
R1 | 0.114 | 3.74 % | ||
Current price | 0.110 | |||
Support | S1 | 0.106 | -3.65% | |
S2 | 0.102 | -6.67% | ||
S3 | 0.0983 | -10.23% |
FAQ
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