Edain USD Cryptocurrency Forecast

Evaluation of Edain USD cryptocurrency downgraded after the last trading session.
(Updated on May 19, 2024)

EAIUSD Signals & Forecast

There are few to no technical positive signals at the moment. The Edain USD 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 $0.0029 and $0.0030. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen -66.16%. 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). 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.

Support, Risk & Stop-loss for Edain USD cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0020 and $0.0019. 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, Edain USD finds support just below today's level at $0.0020. If this is broken, then the next support from accumulated volume will be at $0.0019 and $0.0018.

This cryptocurrency may move much during the day (volatility) and with periodic low trading volume this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.000002 between high and low, or 0.0909%. For the last week the cryptocurrency has had daily average volatility of 8.91%.

Edain USD is oversold on RSI14 (1). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (EAIUSD) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Edain USD to open at $0.0022, and during the day (based on 14 day Average True Range), to move between $0.0020 and $0.0024, which gives a possible trading interval of +/-$0.0002 (+/-7.29%) up or down from last closing price. If Edain USD takes out the full calculated possible swing range there will be an estimated 14.59% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0022 (0.09%) than the support at $0.0020 (10.00%), 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 Edain USD cryptocurrency A Buy?

The Edain USD cryptocurrency holds several negative signals and despite the positive trend, we believe Edain USD will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Strong Sell candidate.

Current score: -5.464 Strong Sell Candidate Downgraded

Predicted Opening Price for Edain USD of Monday, May 20, 2024

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