Energy Web Token / US Dollar Cryptocurrency Forecast
Stronger technical forecast for Energy Web Token / US Dollar cryptocurrency price after Tuesday trading.
(Updated on May 28, 2024)
The Energy Web Token / US Dollar cryptocurrency price gained 0.489% on the last trading day (Tuesday, 28th May 2024), rising from $3.25 to $3.26. During the last trading day the cryptocurrency fluctuated 5.63% from a day low at $3.25 to a day high of $3.44. The price has fallen in 5 of the last 10 days and is down by -8.06% for this period. Volume fell on the last day by -154 thousand shares and in total, 3 million shares were bought and sold for approximately $9.24 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 31.97% during the next 3 months and, with a 90% probability hold a price between $3.20 and $5.11 at the end of this 3-month period.
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EWTUSD Signals & Forecast
A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -14.31%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. The Energy Web Token / US Dollar cryptocurrency holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the cryptocurrency giving a positive forecast for the stock. On further gains, the cryptocurrency will meet resistance from the short-term Moving Average at approximately $3.49. On a fall, the cryptocurrency will find some support from the long-term average at approximately $3.09. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The cryptocurrency should be watched closely.
Support, Risk & Stop-loss for Energy Web Token / US Dollar cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $3.01 and $2.95. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, Energy Web Token / US Dollar finds support just below today's level at $3.01. If this is broken, then the next support from accumulated volume will be at $2.95 and $2.78.
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 $0.183 between high and low, or 5.63%. For the last week, the cryptocurrency has had daily average volatility of 4.91%.
Our recommended stop-loss: $3.10 (-5.04%) (This cryptocurrency has high daily movements and this gives high risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (EWTUSD) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect Energy Web Token / US Dollar to open at $3.32, and during the day (based on 14 day Average True Range), to move between $3.02 and $3.51, which gives a possible trading interval of +/-$0.246 (+/-7.54%) up or down from last closing price. If Energy Web Token / US Dollar takes out the full calculated possible swing range there will be an estimated 15.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.44 (5.49%) than the support at $3.01 (7.84%), 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 Energy Web Token / US Dollar cryptocurrency A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.539 Buy Candidate Upgraded
Predicted Opening Price for Energy Web Token / US Dollar of Wednesday, May 29, 2024
| Fair opening price May 29, 2024 | Current price |
|---|---|
| $3.32 ( 1.74%) | $3.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EWTUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.50 | 7.36 % | |
| R2 | 3.43 | 5.22 % | ||
| R1 | 3.39 | 3.89 % | ||
| Current price: | 3.26 | |||
| Support | S1 | 3.25 | -0.403 % | |
| S2 | 3.20 | -1.73 % | ||
| S3 | 3.13 | -3.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.65 | 11.95 % | |
| R2 | 3.51 | 7.60 % | ||
| R1 | 3.44 | 5.49 % | ||
| Current price | 3.26 | |||
| Support | S1 | 3.01 | -7.84% | |
| S2 | 2.95 | -9.66% | ||
| S3 | 2.78 | -14.71% |
FAQ
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