Enigma USD Cryptocurrency Forecast
Volatile ride for Enigma USD cryptocurrency price on Wednesday moving between $0.0127 and $0.0152
(Updated on May 08, 2024)
The Enigma USD cryptocurrency price gained 4.91% on the last trading day (Wednesday, 8th May 2024), rising from $0.0145 to $0.0152. During the last trading day the cryptocurrency fluctuated 19.84% from a day low at $0.0127 to a day high of $0.0152. The price has risen in 7 of the last 10 days and is up by 44.33% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 65 thousand more shares were traded than the day before. In total, 296 thousand shares were bought and sold for approximately $4.51 thousand.
The cryptocurrency lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to rise 42.62% during the next 3 months and, with a 90% probability hold a price between $0.0152 and $0.0365 at the end of this 3-month period.
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ENGUSD Signals & Forecast
The Enigma USD cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0146 and $0.0131. 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). Enigma USD has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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, March 20, 2024, and so far it has fallen -28.97%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Enigma USD cryptocurrency
Enigma USD finds support from accumulated volume at $0.0150 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0025 between high and low, or 19.84%. For the last week, the cryptocurrency has had daily average volatility of 41.88%.
Our recommended stop-loss: $0.0143 (-5.92%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 49 days ago.)
Trading Expectations (ENGUSD) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Enigma USD to open at $0.0144, and during the day (based on 14 day Average True Range), to move between $0.0076 and $0.0228, which gives a possible trading interval of +/-$0.0076 (+/-49.73%) up or down from last closing price. If Enigma USD takes out the full calculated possible swing range there will be an estimated 99.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0150 (1.58%) than the resistance at $0.0160 (5.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Enigma USD cryptocurrency A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Enigma USD cryptocurrency to perform well in the short-term.
Current score: 3.743 Buy Candidate Unchanged
Predicted Opening Price for Enigma USD of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $0.0144 ( 5.52%) | $0.0152 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENGUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0169 | 11.04 % | |
| R2 | 0.0159 | 4.71 % | ||
| R1 | 0.0153 | 0.81 % | ||
| Current price: | 0.0152 | |||
| Support | S1 | 0.0134 | -11.84 % | |
| S2 | 0.0128 | -15.75 % | ||
| S3 | 0.0118 | -22.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0184 | 20.91 % | |
| R2 | 0.0183 | 20.08 % | ||
| R1 | 0.0160 | 5.46 % | ||
| Current price | 0.0152 | |||
| Support | S1 | 0.0150 | -1.58% | |
| S2 | 0.0129 | -15.15% | ||
| S3 | 0.0122 | -19.85% |
FAQ
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