ARbit / US Dollar Cryptocurrency Forecast
Green day on Thursday for ARbit / US Dollar
(Updated on May 09, 2024)
The ARbit / US Dollar cryptocurrency price gained 0.605% on the last trading day (Thursday, 9th May 2024), rising from $1.03 to $1.03. During the last trading day the cryptocurrency fluctuated 3.79% from a day low at $1.01 to a day high of $1.05. The price has fallen in 6 of the last 10 days and is down by -9.13% for this period. Volume fell on the last day by -224 million shares and in total, 64 million shares were bought and sold for approximately $65.90 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 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 -47.03% during the next 3 months and, with a 90% probability hold a price between $0.470 and $0.716 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ARBUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 3.66%. 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). 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. 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 $1.05 and $1.19. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for ARbit / US Dollar cryptocurrency
ARbit / US Dollar finds support from accumulated volume at $1.03 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 $0.0382 between high and low, or 3.79%. For the last week, the cryptocurrency has had daily average volatility of 4.98%.
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 Friday 10th
For the upcoming trading day on Friday, 10th we expect ARbit / US Dollar to open at $1.03, and during the day (based on 14 day Average True Range), to move between $0.95 and $1.11, which gives a possible trading interval of +/-$0.0817 (+/-7.92%) up or down from last closing price. If ARbit / US Dollar takes out the full calculated possible swing range there will be an estimated 15.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.03 (0.03%) than the resistance at $1.06 (2.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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.
Current score: -3.151 Sell Candidate Unchanged
Predicted Opening Price for ARbit / US Dollar of Friday, May 10, 2024
Fair opening price May 10, 2024 | Current price |
---|---|
$1.03 ( 0.330%) | $1.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARBUSD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.07 | 3.37 % | |
R2 | 1.05 | 1.96 % | ||
R1 | 1.04 | 1.08 % | ||
Current price: | 1.03 | |||
Support | S1 | 1.01 | -1.74 % | |
S2 | 1.00 | -2.62 % | ||
S3 | 0.99 | -4.03 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.15 | 11.72 % | |
R2 | 1.07 | 3.77 % | ||
R1 | 1.06 | 2.53 % | ||
Current price | 1.03 | |||
Support | S1 | 1.03 | -0.0291% | |
S2 | 1.03 | -0.204% | ||
S3 | 1.03 | -0.601% |
FAQ
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