Fetch.ai / US Dollar Cryptocurrency Forecast
Big movements in Fetch.ai / US Dollar cryptocurrency price on Monday moving 11.54% between high and low
(Updated on May 20, 2024)
The Fetch.ai / US Dollar cryptocurrency price gained 4.51% on the last trading day (Monday, 20th May 2024), rising from $2.28 to $2.39. During the last trading day the cryptocurrency fluctuated 11.54% from a day low at $2.16 to a day high of $2.41. The price has fallen in 5 of the last 10 days but is still up by 7.87% 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, 222 million more shares were traded than the day before. In total, 256 million shares were bought and sold for approximately $611.77 million.
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 12.95% during the next 3 months and, with a 90% probability hold a price between $1.62 and $3.84 at the end of this 3-month period.
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FETUSD Signals & Forecast
The Fetch.ai / US Dollar cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the cryptocurrency has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $2.17 and $2.21. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Friday, March 29, 2024, and so far it has fallen -24.73%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Fetch.ai / US Dollar cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $2.15 and $2.10. 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, Fetch.ai / US Dollar finds support just below today's level at $2.15. If this is broken, then the next support from accumulated volume will be at $2.10 and $2.01.
This cryptocurrency has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.250 between high and low, or 11.54%. For the last week, the cryptocurrency has had daily average volatility of 5.53%.
Our recommended stop-loss: $2.24 (-6.04%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 61 days ago.)
Trading Expectations (FETUSD) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Fetch.ai / US Dollar to open at $2.32, and during the day (based on 14 day Average True Range), to move between $2.18 and $2.59, which gives a possible trading interval of +/-$0.201 (+/-8.41%) up or down from last closing price. If Fetch.ai / US Dollar takes out the full calculated possible swing range there will be an estimated 16.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.56 (7.52%) than the support at $2.15 (9.85%), 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 Fetch.ai / US Dollar 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 Fetch.ai / US Dollar cryptocurrency to perform well in the short-term. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Buy candidate.
Current score: 1.093 Buy Candidate Upgraded
Predicted Opening Price for Fetch.ai / US Dollar of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $2.32 ( 2.73%) | $2.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FETUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.57 | 7.74 % | |
| R2 | 2.47 | 3.74 % | ||
| R1 | 2.42 | 1.27 % | ||
| Current price: | 2.39 | |||
| Support | S1 | 2.23 | -6.72 % | |
| S2 | 2.17 | -9.19 % | ||
| S3 | 2.07 | -13.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.97 | 24.46 % | |
| R2 | 2.72 | 14.09 % | ||
| R1 | 2.56 | 7.52 % | ||
| Current price | 2.39 | |||
| Support | S1 | 2.15 | -9.85% | |
| S2 | 2.10 | -11.88% | ||
| S3 | 2.01 | -15.81% |
FAQ
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