Ardor / US Dollar Cryptocurrency Forecast
High volatility in Ardor / US Dollar cryptocurrency price on Thursday which ended trading at $0.134
(Updated on Mar 28, 2024)
The Ardor / US Dollar cryptocurrency price fell by -4.15% on the last day (Thursday, 28th Mar 2024) from $0.140 to $0.134. During the last trading day the cryptocurrency fluctuated 23.70% from a day low at $0.131 to a day high of $0.162. The price has risen in 6 of the last 10 days and is up by 12.44% over the past 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 -34 million shares and in total, 5 million shares were bought and sold for approximately $706.58 thousand.
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 36.74% during the next 3 months and, with a 90% probability hold a price between $0.144 and $0.200 at the end of this 3-month period.
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ARDRUSD Signals & Forecast
The Ardor / US 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 $0.124 and $0.116. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen -4.56%. 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 Ardor / US Dollar cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.119 and $0.116. 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, Ardor / US Dollar finds support just below today's level at $0.119. If this is broken, then the next support from accumulated volume will be at $0.116 and $0.115.
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 $0.0310 between high and low, or 23.70%. For the last week the cryptocurrency has had daily average volatility of 11.22%.
Our recommended stop-loss: $0.127 (-4.72%) (This cryptocurrency has high daily movements and this gives high risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (ARDRUSD) For The Upcoming Trading Day Of Friday 29th
For the upcoming trading day on Friday, 29th we expect Ardor / US Dollar to open at $0.142, and during the day (based on 14 day Average True Range), to move between $0.121 and $0.146, which gives a possible trading interval of +/-$0.0124 (+/-9.28%) up or down from last closing price. If Ardor / US Dollar takes out the full calculated possible swing range there will be an estimated 18.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.134 (0.22%) than the support at $0.119 (10.92%), 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 Ardor / US 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 Ardor / US Dollar cryptocurrency to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 2.472 Buy Candidate Downgraded
Predicted Opening Price for Ardor / US Dollar of Friday, March 29, 2024
Fair opening price March 29, 2024 | Current price |
---|---|
$0.142 ( 6.23%) | $0.134 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARDRUSD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.173 | 29.40 % | |
R2 | 0.161 | 20.55 % | ||
R1 | 0.154 | 15.08 % | ||
Current price: | 0.134 | |||
Support | S1 | 0.130 | -2.62 % | |
S2 | 0.123 | -8.09 % | ||
S3 | 0.111 | -16.94 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.140 | 4.78 % | |
R2 | 0.140 | 4.33 % | ||
R1 | 0.134 | 0.224 % | ||
Current price | 0.134 | |||
Support | S1 | 0.119 | -10.92% | |
S2 | 0.116 | -13.45% | ||
S3 | 0.115 | -14.13% |
FAQ
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