HedgeTrade / US Dollar Cryptocurrency Forecast

Red day on Tuesday for HedgeTrade / US Dollar cryptocurrency after losing 0.0149%
(Updated on May 28, 2024)

HEDGUSD Signals & Forecast

The HedgeTrade / US Dollar cryptocurrency holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the cryptocurrency giving a positive forecast for the stock. On further gains, the cryptocurrency will meet resistance from the short-term Moving Average at approximately $0.0273. On a fall, the cryptocurrency will find some support from the long-term average at approximately $0.0180. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell 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 Thursday, May 16, 2024, and so far it has fallen -4.10%. 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.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Wednesday, May 01, 2024 with a target of $0.0091. Despite whether the objective of the signal formation has been reached the cryptocurrency may continue to perform well.

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

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0220 and $0.0220. 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, HedgeTrade / US Dollar finds support just below today's level at $0.0220. If this is broken, then the next support from accumulated volume will be at $0.0220 and $0.0220.

In general the cryptocurrency tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the cryptocurrency During the last day, the cryptocurrency moved $0.000032 between high and low, or 0.120%. For the last week the cryptocurrency has had daily average volatility of 0.0819%

HedgeTrade / US Dollar is oversold on RSI14 (8). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: $0.0253 (-5.41%) (This cryptocurrency has low daily movements and this gives low risk. Low RSI14 is 8 which reduces the risk some. There is a sell signal from a pivot top found 13 days ago.)

Trading Expectations (HEDGUSD) For The Upcoming Trading Day Of Wednesday 29th

For the upcoming trading day on Wednesday, 29th we expect HedgeTrade / US Dollar to open at $0.0268, and during the day (based on 14 day Average True Range), to move between $0.0261 and $0.0275, which gives a possible trading interval of +/-$0.0007 (+/-2.66%) up or down from last closing price. If HedgeTrade / US Dollar takes out the full calculated possible swing range there will be an estimated 5.32% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0273 (1.95%) than the support at $0.0220 (17.76%), 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 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.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for HedgeTrade / US Dollar of Wednesday, May 29, 2024

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