Travala.com / US Dollar Cryptocurrency Forecast
Travala.com / US Dollar cryptocurrency downgraded to Hold/Accumulate
(Updated on May 11, 2024)
The Travala.com / US Dollar cryptocurrency price fell by -4.10% on the last day (Saturday, 11th May 2024) from $0.668 to $0.640. During the last trading day the cryptocurrency fluctuated 9.22% from a day low at $0.633 to a day high of $0.691. The price has risen in 7 of the last 10 days and is up by 10.95% 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 -1 million shares and in total, 1 million shares were bought and sold for approximately $908.70 thousand.
The cryptocurrency is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $0.578 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Travala.com / US Dollar cryptocurrency with a 90% probability to be traded between $0.583 and $1.01 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and cryptocurrencies seldom manage to go directly from the bottom of a trend up to the top. Cryptocurrencies turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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AVAUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. The Travala.com / 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 $0.659 and $0.689. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 10.95%. 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).
Support, Risk & Stop-loss for Travala.com / US Dollar cryptocurrency
Travala.com / US Dollar finds support from accumulated volume at $0.634 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, but be aware of low or falling volume as this increases the risk. During the last day, the cryptocurrency moved $0.0583 between high and low, or 9.22%. For the last week the cryptocurrency has had daily average volatility of 6.51%.
Our recommended stop-loss: $0.615 (-4.02%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (AVAUSD) For The Upcoming Trading Day Of Sunday 12th
For the upcoming trading day on Sunday, 12th we expect Travala.com / US Dollar to open at $0.655, and during the day (based on 14 day Average True Range), to move between $0.590 and $0.690, which gives a possible trading interval of +/-$0.0500 (+/-7.81%) up or down from last closing price. If Travala.com / US Dollar takes out the full calculated possible swing range there will be an estimated 15.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.634 (0.98%) than the resistance at $0.721 (12.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Travala.com / US Dollar cryptocurrency A Buy?
Travala.com / US Dollar holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.963 Hold/Accumulate Downgraded
Predicted Opening Price for Travala.com / US Dollar of Sunday, May 12, 2024
| Fair opening price May 12, 2024 | Current price |
|---|---|
| $0.655 ( 2.22%) | $0.640 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AVAUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.713 | 11.33 % | |
| R2 | 0.691 | 7.85 % | ||
| R1 | 0.677 | 5.70 % | ||
| Current price: | 0.640 | |||
| Support | S1 | 0.632 | -1.26 % | |
| S2 | 0.619 | -3.40 % | ||
| S3 | 0.596 | -6.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.775 | 20.96 % | |
| R2 | 0.742 | 15.88 % | ||
| R1 | 0.721 | 12.54 % | ||
| Current price | 0.640 | |||
| Support | S1 | 0.634 | -0.98% | |
| S2 | 0.627 | -2.08% | ||
| S3 | 0.615 | -3.92% |
FAQ
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