Fortress USD Cryptocurrency Forecast
High volatility in Fortress USD cryptocurrency price on Tuesday which ended trading at $0.278
(Updated on May 07, 2024)
The Fortress USD cryptocurrency price fell by -0.96% on the last day (Tuesday, 7th May 2024) from $0.281 to $0.278. During the last trading day the cryptocurrency fluctuated 10.79% from a day low at $0.268 to a day high of $0.297. The price has been going up and down for this period, and there has been a -1.78% loss for the last 2 weeks. Volume fell on the last day along with the cryptocurrency, which is actually a good sign as volume should follow the cryptocurrency. On the last day, the trading volume fell by -339 thousand shares and in total, 610 thousand shares were bought and sold for approximately $169.83 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 48.82% during the next 3 months and, with a 90% probability hold a price between $0.282 and $0.530 at the end of this 3-month period.
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FORTUSD Signals & Forecast
The Fortress USD cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.264 and $0.239. A breakdown below any of these levels will issue sell signals. 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 Wednesday, April 24, 2024, and so far it has fallen -17.95%. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this cryptocurrency may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Fortress USD cryptocurrency
Fortress USD finds support from accumulated volume at $0.266 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 periodic low trading volume this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0289 between high and low, or 10.79%. For the last week the cryptocurrency has had daily average volatility of 10.63%.
Our recommended stop-loss: $0.262 (-6.00%) (This cryptocurrency has high daily movements and this gives high risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (FORTUSD) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Fortress USD to open at $0.281, and during the day (based on 14 day Average True Range), to move between $0.248 and $0.309, which gives a possible trading interval of +/-$0.0307 (+/-11.03%) up or down from last closing price. If Fortress USD takes out the full calculated possible swing range there will be an estimated 22.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.266 (4.41%) than the resistance at $0.291 (4.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Fortress USD 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 Fortress USD cryptocurrency to perform well in the short-term.
Current score: 1.035 Buy Candidate Unchanged
Predicted Opening Price for Fortress USD of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $0.281 ( 0.95%) | $0.278 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FORTUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.310 | 11.33 % | |
| R2 | 0.299 | 7.36 % | ||
| R1 | 0.292 | 4.91 % | ||
| Current price: | 0.278 | |||
| Support | S1 | 0.270 | -3.02 % | |
| S2 | 0.263 | -5.47 % | ||
| S3 | 0.252 | -9.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.339 | 21.88 % | |
| R2 | 0.305 | 9.42 % | ||
| R1 | 0.291 | 4.46 % | ||
| Current price | 0.278 | |||
| Support | S1 | 0.266 | -4.41% | |
| S2 | 0.257 | -7.80% | ||
| S3 | 0.227 | -18.58% |
FAQ
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