Bitwise Web3 Etf ETF Forecast
Bitwise Web3 Etf ETF price ended at $43.89 on Tuesday, after losing 1.99%.
(Updated on Jun 25, 2024)
The Bitwise Web3 Etf ETF price fell by -1.99% on the last day (Tuesday, 25th Jun 2024) from $44.78 to $43.89. During the last trading day the ETF fluctuated 0% from a day low at $43.89 to a day high of $43.89. The price has been going up and down for this period, and there has been a 3.76% gain for the last 2 weeks. Volume has increased on the last day by 101 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, 101 shares were bought and sold for approximately $4.43 thousand.
The ETF has broken the narrow and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $44.00. A reaction back to this level may hold a second chance to get out before further falls.
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BWEB Signals & Forecast
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 Bitwise Web3 Etf ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $44.74 and $44.08. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen -2.67%. Further fall is indicated until a new bottom pivot has been found. Bitwise Web3 Etf 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Bitwise Web3 Etf ETF
Bitwise Web3 Etf finds support from accumulated volume at $43.13 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0%.
Our recommended stop-loss: $42.47 (-3.23%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (BWEB) For The Upcoming Trading Day Of Wednesday 26th
Since the stock is closer to the resistance from accumulated volume at $44.09 (0.46%) than the support at $43.13 (1.73%), 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 Bitwise Web3 Etf ETF A Buy?
Bitwise Web3 Etf holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Bitwise Web3 Etf of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $43.89 ( 0.00000000%) | $43.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BWEB
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 43.89 | 0.00000000% |
| R2 | 43.89 | 0.00000000% |
| R1 | 43.89 | 0.00000000% |
| Price | 43.89 | |
| S1 | 43.89 | 0.00000000% |
| S2 | 43.89 | 0.00000000% |
| S3 | 43.89 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 45.10 | 2.75% |
| R2 | 44.78 | 2.03% |
| R1 | 44.09 | 0.456% |
| Price | 43.89 | |
| S1 | 43.13 | -1.73% |
| S2 | 42.79 | -2.50% |
| S3 | 42.30 | -3.62% |
FAQ
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