DODO / US Dollar Cryptocurrency Forecast
DODO / US Dollar cryptocurrency price down 0.658% on Sunday
(Updated on May 05, 2024)
The DODO / US Dollar cryptocurrency price fell by -0.658% on the last day (Sunday, 5th May 2024) from $0.182 to $0.181. During the last trading day the cryptocurrency fluctuated 2.18% from a day low at $0.179 to a day high of $0.183. The price has fallen in 7 of the last 10 days and is down by -5.23% for this period. Volume has increased on the last day by 2 million 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, 4 million shares were bought and sold for approximately $757.93 thousand.
The cryptocurrency is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect DODO / US Dollar cryptocurrency with a 90% probability to be traded between $0.140 and $0.302 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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DODOUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. The DODO / US Dollar cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $0.195. On a fall, the cryptocurrency will find some support from the short-term average at $0.174. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -41.64%. Further fall is indicated until a new bottom pivot has been found. DODO / US Dollar 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". Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for DODO / US Dollar cryptocurrency
DODO / US Dollar finds support from accumulated volume at $0.181 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0039 between high and low, or 2.18%. For the last week, the cryptocurrency has had daily average volatility of 8.34%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DODOUSD) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect DODO / US Dollar to open at $0.181, and during the day (based on 14 day Average True Range), to move between $0.163 and $0.199, which gives a possible trading interval of +/-$0.0181 (+/-9.97%) up or down from last closing price. If DODO / US Dollar takes out the full calculated possible swing range there will be an estimated 19.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.181 (0.11%) than the resistance at $0.193 (6.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is DODO / US Dollar cryptocurrency A Buy?
DODO / US Dollar holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency.
Current score: -3.451 Sell Candidate Unchanged
Predicted Opening Price for DODO / US Dollar of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.181 ( 0.202%) | $0.181 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DODOUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.185 | 1.95 % | |
| R2 | 0.183 | 1.13 % | ||
| R1 | 0.182 | 0.620 % | ||
| Current price: | 0.181 | |||
| Support | S1 | 0.179 | -1.02 % | |
| S2 | 0.178 | -1.53 % | ||
| S3 | 0.177 | -2.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.212 | 17.22 % | |
| R2 | 0.201 | 11.15 % | ||
| R1 | 0.193 | 6.35 % | ||
| Current price | 0.181 | |||
| Support | S1 | 0.181 | -0.110% | |
| S2 | 0.179 | -1.27% | ||
| S3 | 0.173 | -4.58% |
FAQ
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