Elrond Cryptocurrency Forecast
Big movements in Elrond cryptocurrency price on Tuesday moving 12.08% between high and low
(Updated on Apr 30, 2024)
The Elrond cryptocurrency price fell by -9.85% on the last day (Tuesday, 30th Apr 2024) from $41.63 to $37.53. It has now fallen 4 days in a row. During the last trading day the cryptocurrency fluctuated 12.08% from a day low at $36.40 to a day high of $40.80. The price has fallen in 7 of the last 10 days and is down by -15.74% for this period. Volume has increased on the last day by 22 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, 24 million shares were bought and sold for approximately $909.18 million.
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $36.62 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -19.78% during the next 3 months and, with a 90% probability hold a price between $29.38 and $51.18 at the end of this 3-month period.
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EGLDUSD Signals & Forecast
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. The Elrond 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 $41.57 and $48.65. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -48.02%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely.
Support, Risk & Stop-loss for Elrond cryptocurrency
There is no support from accumulated volume below today's level and given the right condition the cryptocurrency may perform very badly in the next couple of days.
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 $4.40 between high and low, or 12.08%. For the last week, the cryptocurrency has had daily average volatility of 4.83%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EGLDUSD) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Elrond to open at $38.25, and during the day (based on 14 day Average True Range), to move between $33.79 and $41.27, which gives a possible trading interval of +/-$3.74 (+/-9.97%) up or down from last closing price. If Elrond takes out the full calculated possible swing range there will be an estimated 19.95% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $39.42, some $1.89 (5.03%) from the current price of $37.53, our system finds the risk reward not very attractive.
Is Elrond cryptocurrency A Buy?
Elrond holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -7.699 Strong Sell Candidate Downgraded
Predicted Opening Price for Elrond of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $38.25 ( 1.90%) | $37.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EGLDUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 42.64 | 13.62 % | |
| R2 | 40.96 | 9.15 % | ||
| R1 | 39.93 | 6.38 % | ||
| Current price: | 37.53 | |||
| Support | S1 | 36.57 | -2.57 % | |
| S2 | 35.53 | -5.34 % | ||
| S3 | 33.85 | -9.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.69 | 16.41 % | |
| R2 | 42.24 | 12.55 % | ||
| R1 | 39.42 | 5.03 % | ||
| Current price | 37.53 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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