Hedera Hashgraph Cryptocurrency Forecast
Evaluation of Hedera Hashgraph cryptocurrency downgraded after the last trading session.
(Updated on May 08, 2024)
The Hedera Hashgraph cryptocurrency price fell by -4.95% on the last day (Wednesday, 8th May 2024) from $0.113 to $0.108. During the last trading day the cryptocurrency fluctuated 4.61% from a day low at $0.105 to a day high of $0.110. The price has risen in 6 of the last 10 days and is up by 1.21% over the past 2 weeks. Volume has increased on the last day by 24 million 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, 81 million shares were bought and sold for approximately $8.69 million.
The cryptocurrency is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Hedera Hashgraph cryptocurrency with a 90% probability to be traded between $0.0780 and $0.133 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and cryptocurrencies seldom manage to go directly from the bottom of a trend up to the top. Cryptocurrencies turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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HBARUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -14.73%. 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 rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely. The Hedera Hashgraph 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 $0.107 and $0.0994. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Hedera Hashgraph cryptocurrency
Hedera Hashgraph finds support from accumulated volume at $0.107 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0049 between high and low, or 4.61%. For the last week, the cryptocurrency has had daily average volatility of 7.79%.
Our recommended stop-loss: $0.102 (-5.09%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (HBARUSD) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Hedera Hashgraph to open at $0.108, and during the day (based on 14 day Average True Range), to move between $0.0937 and $0.122, which gives a possible trading interval of +/-$0.0140 (+/-12.97%) up or down from last closing price. If Hedera Hashgraph takes out the full calculated possible swing range there will be an estimated 25.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.107 (0.42%) than the resistance at $0.112 (4.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hedera Hashgraph cryptocurrency A Buy?
Hedera Hashgraph holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: 0.134 Hold/Accumulate Downgraded
Predicted Opening Price for Hedera Hashgraph of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $0.108 ( 0.0867%) | $0.108 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HBARUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.113 | 4.60 % | |
| R2 | 0.111 | 2.88 % | ||
| R1 | 0.110 | 1.81 % | ||
| Current price: | 0.108 | |||
| Support | S1 | 0.106 | -1.64 % | |
| S2 | 0.105 | -2.70 % | ||
| S3 | 0.103 | -4.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.126 | 17.28 % | |
| R2 | 0.126 | 17.19 % | ||
| R1 | 0.112 | 4.00 % | ||
| Current price | 0.108 | |||
| Support | S1 | 0.107 | -0.418% | |
| S2 | 0.105 | -2.90% | ||
| S3 | 0.0930 | -13.61% |
FAQ
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