FERMA SOSEDI USD Cryptocurrency Forecast
Evaluation of FERMA SOSEDI USD cryptocurrency downgraded after the last trading session.
(Updated on Jun 25, 2024)
The FERMA SOSEDI USD cryptocurrency price fell by -0.87% on the last day (Tuesday, 25th Jun 2024) from $0.110 to $0.109. During the last trading day the cryptocurrency fluctuated 1.96% from a day low at $0.109 to a day high of $0.111. The price has been going up and down for this period, and there has been a 0.04% gain for the last 2 weeks. Volume has increased on the last day by 2 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, 43 thousand shares were bought and sold for approximately $4.68 thousand.
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.106 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -8.81% during the next 3 months and, with a 90% probability hold a price between $0.0969 and $0.256 at the end of this 3-month period.
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FERMAUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 1.55%. 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 FERMA SOSEDI 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 $0.109 and $0.110. 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). FERMA SOSEDI 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 FERMA SOSEDI USD cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0831 and $0.0825. 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, FERMA SOSEDI USD finds support just below today's level at $0.0831. If this is broken, then the next support from accumulated volume will be at $0.0825 and $0.0823.
In general the cryptocurrency tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the cryptocurrency moved $0.0021 between high and low, or 1.96%. For the last week the cryptocurrency has had daily average volatility of 2.27%.
Our recommended stop-loss: $0.105 (-3.63%) (This cryptocurrency has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 65 days ago.)
Trading Expectations (FERMAUSD) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect FERMA SOSEDI USD to open at $0.110, and during the day (based on 14 day Average True Range), to move between $0.106 and $0.113, which gives a possible trading interval of +/-$0.0035 (+/-3.24%) up or down from last closing price. If FERMA SOSEDI USD takes out the full calculated possible swing range there will be an estimated 6.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.110 (0.39%) than the support at $0.0831 (23.78%), 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 FERMA SOSEDI USD cryptocurrency A Buy?
FERMA SOSEDI USD holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.687 Hold/Accumulate Downgraded
Predicted Opening Price for FERMA SOSEDI USD of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.110 ( 0.498%) | $0.109 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FERMAUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.112 | 2.45% |
| R2 | 0.111 | 1.70% |
| R1 | 0.110 | 1.24% |
| Price | 0.109 | |
| S1 | 0.109 | -0.248% |
| S2 | 0.108 | -0.709% |
| S3 | 0.107 | -1.45% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.112 | 2.42% |
| R2 | 0.110 | 0.596% |
| R1 | 0.110 | 0.394% |
| Price | 0.109 | |
| S1 | 0.0831 | -23.78% |
| S2 | 0.0825 | -24.34% |
| S3 | 0.0823 | -24.53% |
FAQ
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