ARbit / US Dollar Cryptocurrency Forecast

ARbit / US Dollar cryptocurrency downgraded to Strong Sell Candidate
(Updated on Apr 26, 2024)

ARBUSD Signals & Forecast

A buy signal was issued from a pivot bottom point on Sunday, April 14, 2024, and so far it has risen 5.66%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The ARbit / 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 $1.16 and $1.40. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely.

Support, Risk & Stop-loss for ARbit / US Dollar cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $1.03. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the cryptocurrency price.

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 $0.0573 between high and low, or 5.37%. For the last week, the cryptocurrency has had daily average volatility of 5.67%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ARBUSD) For The Upcoming Trading Day Of Saturday 27th

For the upcoming trading day on Saturday, 27th we expect ARbit / US Dollar to open at $1.09, and during the day (based on 14 day Average True Range), to move between $0.98 and $1.20, which gives a possible trading interval of +/-$0.110 (+/-10.10%) up or down from last closing price. If ARbit / US Dollar takes out the full calculated possible swing range there will be an estimated 20.19% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $1.11 (1.48%) than the support at $1.03 (5.36%), 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 ARbit / US Dollar cryptocurrency A Buy?

ARbit / 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Strong Sell candidate.

Current score: -6.005 Strong Sell Candidate Downgraded

Predicted Opening Price for ARbit / US Dollar of Saturday, April 27, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.