DODO / US Dollar Cryptocurrency Forecast

On Friday, DODO / US Dollar cryptocurrency price gained an impressive 6.97%
(Updated on May 17, 2024)

DODOUSD Signals & Forecast

The DODO / US Dollar cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the cryptocurrency has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.175 and $0.175. A breakdown below any of these levels will issue sell signals. DODO / US Dollar has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Wednesday, March 13, 2024, and so far it has fallen -43.19%. 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).

Support, Risk & Stop-loss for DODO / US Dollar cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.166 and $0.165. 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, DODO / US Dollar finds support just below today's level at $0.166. If this is broken, then the next support from accumulated volume will be at $0.165 and $0.154.

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 $0.0107 between high and low, or 6.24%. For the last week, the cryptocurrency has had daily average volatility of 5.54%.

Our recommended stop-loss: $0.166 (-5.92%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 65 days ago.)

Trading Expectations (DODOUSD) For The Upcoming Trading Day Of Saturday 18th

For the upcoming trading day on Saturday, 18th we expect DODO / US Dollar to open at $0.177, and during the day (based on 14 day Average True Range), to move between $0.162 and $0.191, which gives a possible trading interval of +/-$0.0141 (+/-8.00%) up or down from last closing price. If DODO / US Dollar takes out the full calculated possible swing range there will be an estimated 16.00% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.181 (2.61%) than the support at $0.166 (5.67%), 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 DODO / US Dollar cryptocurrency A Buy?

DODO / 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. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

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 DODO / US Dollar of Saturday, May 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.