Fantom / US Dollar Cryptocurrency Forecast
Red day on Friday for Fantom / US Dollar
(Updated on May 03, 2024)
The Fantom / US Dollar cryptocurrency price fell by -0.0149% on the last day (Friday, 3rd May 2024) from $0.670 to $0.670. During the last trading day the cryptocurrency fluctuated 4.57% from a day low at $0.657 to a day high of $0.687. The price has fallen in 8 of the last 10 days and is down by -12.17% for this period. 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 -94 million shares and in total, 29 million shares were bought and sold for approximately $19.24 million.
The cryptocurrency lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.658 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 50.40% during the next 3 months and, with a 90% probability hold a price between $0.99 and $2.06 at the end of this 3-month period.
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FTMUSD Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Fantom / US Dollar 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 $0.686 and $0.788. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 26, 2024, and so far it has fallen -42.91%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Fantom / US Dollar cryptocurrency
Fantom / US Dollar finds support from accumulated volume at $0.646 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0300 between high and low, or 4.57%. For the last week, the cryptocurrency has had daily average volatility of 8.31%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FTMUSD) For The Upcoming Trading Day Of Saturday 4th
For the upcoming trading day on Saturday, 4th we expect Fantom / US Dollar to open at $0.671, and during the day (based on 14 day Average True Range), to move between $0.595 and $0.745, which gives a possible trading interval of +/-$0.0751 (+/-11.21%) up or down from last closing price. If Fantom / US Dollar takes out the full calculated possible swing range there will be an estimated 22.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.680 (1.48%) than the support at $0.646 (3.67%), 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 Fantom / US Dollar cryptocurrency A Buy?
The Fantom / US Dollar cryptocurrency holds several negative signals and despite the positive trend, we believe Fantom / US Dollar will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency.
Current score: -1.519 Sell Candidate Unchanged
Predicted Opening Price for Fantom / US Dollar of Saturday, May 4, 2024
| Fair opening price May 4, 2024 | Current price |
|---|---|
| $0.671 ( 0.129%) | $0.670 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FTMUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.701 | 4.60 % | |
| R2 | 0.690 | 2.90 % | ||
| R1 | 0.683 | 1.84 % | ||
| Current price: | 0.670 | |||
| Support | S1 | 0.660 | -1.58 % | |
| S2 | 0.653 | -2.64 % | ||
| S3 | 0.641 | -4.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.82 | 21.72 % | |
| R2 | 0.769 | 14.74 % | ||
| R1 | 0.680 | 1.48 % | ||
| Current price | 0.670 | |||
| Support | S1 | 0.646 | -3.67% | |
| S2 | 0.627 | -6.46% | ||
| S3 | 0.611 | -8.88% |
FAQ
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