Energreen USD Cryptocurrency Forecast
Weaker technical forecast for Energreen USD as cryptocurrency downgraded to Hold/Accumulate.
(Updated on May 16, 2024)
No changes to the price of Energreen USD cryptocurrency on the last trading day (Thursday, 16th May 2024). During the last trading day the cryptocurrency fluctuated 0% from a day low at $0.496 to a day high of $0.496. The price has risen in 5 of the last 10 days but is still down by -10.64% for this period.
The cryptocurrency lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to fall -41.59% during the next 3 months and, with a 90% probability hold a price between $0.105 and $0.429 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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EGRNUSD Signals & Forecast
The Energreen 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 $0.483 and $0.492. A breakdown below any of these levels will issue sell signals. 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 15, 2024, and so far it has fallen 0%. 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 Energreen USD cryptocurrency
Energreen USD finds support from accumulated volume at $0.484 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 24.46%
Our recommended stop-loss: $0.476 (-4.00%) (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 (EGRNUSD) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Energreen USD to open at $0.496, and during the day (based on 14 day Average True Range), to move between $0.362 and $0.629, which gives a possible trading interval of +/-$0.133 (+/-26.90%) up or down from last closing price. If Energreen USD takes out the full calculated possible swing range there will be an estimated 53.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.505 (1.95%) than the support at $0.484 (2.25%), 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 Energreen USD cryptocurrency A Buy?
Energreen 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.749 Hold/Accumulate Downgraded
Predicted Opening Price for Energreen USD of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $0.496 ( 0%) | $0.496 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EGRNUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.496 | . | |
| R2 | 0.496 | . | ||
| R1 | 0.496 | . | ||
| Current price: | 0.496 | |||
| Support | S1 | 0.496 | . | |
| S2 | 0.496 | . | ||
| S3 | 0.496 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.593 | 19.63 % | |
| R2 | 0.576 | 16.21 % | ||
| R1 | 0.505 | 1.95 % | ||
| Current price | 0.496 | |||
| Support | S1 | 0.484 | -2.25% | |
| S2 | 0.473 | -4.46% | ||
| S3 | 0.472 | -4.82% |
FAQ
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