Hermez Network / US Dollar Cryptocurrency Forecast

Weaker technical forecast for Hermez Network / US Dollar as cryptocurrency downgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)

HEZUSD Signals & Forecast

There are mixed signals in the cryptocurrency today. The Hermez Network / 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 $4.16 and $4.24. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 0.277%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

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

Hermez Network / US Dollar finds support from accumulated volume at $4.09 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.0431 between high and low, or 1.04%. For the last week the cryptocurrency has had daily average volatility of 2.31%

Our recommended stop-loss: $3.89 (-5.99%) (This cryptocurrency has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 33 days ago.)

Trading Expectations (HEZUSD) For The Upcoming Trading Day Of Saturday 29th

For the upcoming trading day on Saturday, 29th we expect Hermez Network / US Dollar to open at $4.15, and during the day (based on 14 day Average True Range), to move between $4.07 and $4.20, which gives a possible trading interval of +/-$0.0655 (+/-1.58%) up or down from last closing price. If Hermez Network / US Dollar takes out the full calculated possible swing range there will be an estimated 3.17% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $4.09 (1.00%) than the resistance at $4.22 (2.12%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Hermez Network / US Dollar cryptocurrency A Buy?

Hermez Network / 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. 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: 0.841 Hold/Accumulate Downgraded

Predicted Opening Price for Hermez Network / US Dollar of Saturday, June 29, 2024

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