Enigma USD Cryptocurrency Forecast
Volatile ride for Enigma USD cryptocurrency price on Sunday moving between $0.0127 and $0.0183
(Updated on May 19, 2024)
The Enigma USD cryptocurrency price fell by -20.00% on the last day (Sunday, 19th May 2024) from $0.0164 to $0.0131. During the last trading day the cryptocurrency fluctuated 44.46% from a day low at $0.0127 to a day high of $0.0183. The price has fallen in 5 of the last 10 days but is still up by 11.14% over the past 2 weeks. Volume has increased on the last day by 76 thousand 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, 314 thousand shares were bought and sold for approximately $4.12 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 19.18% during the next 3 months and, with a 90% probability hold a price between $0.0109 and $0.0286 at the end of this 3-month period.
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ENGUSD 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 Enigma USD cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.0150 and $0.0135. 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 20, 2024, and so far it has fallen -38.76%. Further fall is indicated until a new bottom pivot has been found. Enigma 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 Enigma USD cryptocurrency
Enigma USD finds support from accumulated volume at $0.0129 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 $0.0056 between high and low, or 44.46%. For the last week, the cryptocurrency has had daily average volatility of 39.94%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ENGUSD) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Enigma USD to open at $0.0147, and during the day (based on 14 day Average True Range), to move between $0.0069 and $0.0193, which gives a possible trading interval of +/-$0.0062 (+/-47.45%) up or down from last closing price. If Enigma USD takes out the full calculated possible swing range there will be an estimated 94.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0132 (0.55%) than the support at $0.0129 (1.59%), 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 Enigma USD cryptocurrency A Buy?
The Enigma USD cryptocurrency holds several negative signals and despite the positive trend, we believe Enigma 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 Buy to a Sell candidate.
Current score: -4.021 Sell Candidate Downgraded
Predicted Opening Price for Enigma USD of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0147 ( 12.09%) | $0.0131 |
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 | 0.0203 | 55.06 % | |
| R2 | 0.0182 | 38.65 % | ||
| R1 | 0.0168 | 28.51 % | ||
| Current price: | 0.0131 | |||
| Support | S1 | 0.0125 | -4.32 % | |
| S2 | 0.0112 | -14.46 % | ||
| S3 | 0.0091 | -30.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0160 | 22.32 % | |
| R2 | 0.0150 | 14.16 % | ||
| R1 | 0.0132 | 0.549 % | ||
| Current price | 0.0131 | |||
| Support | S1 | 0.0129 | -1.59% | |
| S2 | 0.0129 | -1.84% | ||
| S3 | 0.0122 | -7.04% |
FAQ
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