HedgeTrade / US Dollar Cryptocurrency Forecast

HedgeTrade / US Dollar cryptocurrency upgraded to Sell Candidate.
(Updated on May 07, 2024)

HEDGUSD Signals & Forecast

There are mixed signals in the cryptocurrency today. The HedgeTrade / US Dollar cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $0.0141. On a fall, the cryptocurrency will find some support from the short-term average at $0.0078. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -24.56%. 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. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for HedgeTrade / US Dollar cryptocurrency

HedgeTrade / US Dollar finds support from accumulated volume at $0.0081 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 periodic low trading volume this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.00001 between high and low, or 0.121%. For the last week the cryptocurrency has had daily average volatility of 5.66%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (HEDGUSD) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect HedgeTrade / US Dollar to open at $0.0083, and during the day (based on 14 day Average True Range), to move between $0.0073 and $0.0093, which gives a possible trading interval of +/-$0.0010 (+/-12.06%) up or down from last closing price. If HedgeTrade / US Dollar takes out the full calculated possible swing range there will be an estimated 24.11% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0083 (0.02%) than the support at $0.0081 (2.39%), 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 HedgeTrade / US Dollar cryptocurrency A Buy?

HedgeTrade / US Dollar holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -4.089 Sell Candidate Upgraded

Predicted Opening Price for HedgeTrade / US Dollar of Wednesday, May 8, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.