Edain USD Cryptocurrency Forecast

Red day on Wednesday for Edain USD
(Updated on May 08, 2024)

EAIUSD Signals & Forecast

The Edain USD 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 $0.0030 and $0.0031. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Sell

Special Signal Notification

Double Top Formation

Support, Risk & Stop-loss for Edain USD cryptocurrency

Edain USD finds support from accumulated volume at $0.0032 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the cryptocurrency tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the cryptocurrency During the last day, the cryptocurrency moved $0 between high and low, or 0%. For the last week the cryptocurrency has had daily average volatility of 2.50%

Our recommended stop-loss: $0.0031 (-3.78%) (This cryptocurrency has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (EAIUSD) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect Edain USD to open at $0.0032, and during the day (based on 14 day Average True Range), to move between $0.0030 and $0.0034, which gives a possible trading interval of +/-$0.0002 (+/-6.74%) up or down from last closing price. If Edain USD takes out the full calculated possible swing range there will be an estimated 13.48% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0032 (0.63%) than the resistance at $0.0033 (3.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Edain USD cryptocurrency A Buy?

Edain USD 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.

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 Edain USD of Thursday, May 9, 2024

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