Ormeus Ecosystem USD Cryptocurrency Forecast

Volatile ride for Ormeus Ecosystem USD cryptocurrency price on Thursday moving between $0.0003 and $0.0007
(Updated on May 02, 2024)

ECOUSD Signals & Forecast

The Ormeus Ecosystem USD cryptocurrency holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the cryptocurrency giving a positive forecast for the stock. On further gains, the cryptocurrency will meet resistance from the short-term Moving Average at approximately $0.0003. On a fall, the cryptocurrency will find some support from the long-term average at approximately $0.0001. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Wednesday, May 01, 2024, and so far it has fallen -64.86%. Further fall is indicated until a new bottom pivot has been found. Ormeus Ecosystem USD 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 Ormeus Ecosystem USD cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0002 and $0.0002. 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, Ormeus Ecosystem USD finds support just below today's level at $0.0002. If this is broken, then the next support from accumulated volume will be at $0.0002 and $0.0002.

This cryptocurrency may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0005 between high and low, or 176.86%. For the last week, the cryptocurrency has had daily average volatility of 378.00%.

Our recommended stop-loss: $0.0003 (-4.92%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (ECOUSD) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Ormeus Ecosystem USD to open at $0.0004, and during the day (based on 14 day Average True Range), to move between -$0.00005475 and $0.0006, which gives a possible trading interval of +/-$0.0003 (+/-120.58%) up or down from last closing price. If Ormeus Ecosystem USD takes out the full calculated possible swing range there will be an estimated 241.17% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0003 (1.13%) than the support at $0.0002 (9.40%), 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 Ormeus Ecosystem USD cryptocurrency A Buy?

Ormeus Ecosystem 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: -0.146 Hold/Accumulate Unchanged

Predicted Opening Price for Ormeus Ecosystem USD of Friday, May 3, 2024

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