Electroneum USD Cryptocurrency Forecast
Red day on Friday for Electroneum USD cryptocurrency after losing 2.33%
(Updated on Jun 21, 2024)
The Electroneum USD cryptocurrency price fell by -2.33% on the last day (Friday, 21st Jun 2024) from $0.0023 to $0.0023. It has now fallen 4 days in a row. During the last trading day the cryptocurrency fluctuated 8.02% from a day low at $0.0022 to a day high of $0.0023. The price has fallen in 7 of the last 10 days and is down by -14.52% for this period. Volume has increased on the last day by 82 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, 1 million shares were bought and sold for approximately $2.42 thousand.
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 -61.22% during the next 3 months and, with a 90% probability hold a price between $0.0007 and $0.0012 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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ETNUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 4.34%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Electroneum USD 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 $0.0024 and $0.0029. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Electroneum 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 Electroneum USD cryptocurrency
Electroneum USD finds support from accumulated volume at $0.0022 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 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 $0.0002 between high and low, or 8.02%. For the last week, the cryptocurrency has had daily average volatility of 9.99%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ETNUSD) For The Upcoming Trading Day Of Saturday 22nd
For the upcoming trading day on Saturday, 22nd we expect Electroneum USD to open at $0.0023, and during the day (based on 14 day Average True Range), to move between $0.0020 and $0.0025, which gives a possible trading interval of +/-$0.0003 (+/-12.69%) up or down from last closing price. If Electroneum USD takes out the full calculated possible swing range there will be an estimated 25.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0022 (1.59%) than the resistance at $0.0025 (11.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Electroneum USD cryptocurrency A Buy?
Electroneum USD 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.
Current score: -2.740 Sell Candidate Unchanged
Predicted Opening Price for Electroneum USD of Saturday, June 22, 2024
| Fair opening price June 22, 2024 | Current price |
|---|---|
| $0.0023 ( 0.0885%) | $0.0023 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ETNUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0024 | 7.61% |
| R2 | 0.0024 | 4.67% |
| R1 | 0.0023 | 2.85% |
| Price | 0.0023 | |
| S1 | 0.0022 | -3.03% |
| S2 | 0.0022 | -4.85% |
| S3 | 0.0021 | -7.79% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0027 | 17.79% |
| R2 | 0.0026 | 14.69% |
| R1 | 0.0025 | 11.77% |
| Price | 0.0023 | |
| S1 | 0.0022 | -1.59% |
| S2 | 0.0022 | -4.16% |
| S3 | 0 | - |
FAQ
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