Hydro Protocol Cryptocurrency Forecast

Hydro Protocol cryptocurrency upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)

HOTUSD Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Hydro Protocol has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Hydro Protocol 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 $0.0029. On a fall, the cryptocurrency will find some support from the short-term average at $0.0026. 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, March 14, 2024, and so far it has fallen -39.69%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Hydro Protocol cryptocurrency

Hydro Protocol finds support from accumulated volume at $0.0027 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 $0.0002 between high and low, or 7.87%. For the last week, the cryptocurrency has had daily average volatility of 8.56%.

Our recommended stop-loss: $0.0025 (-6.16%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 43 days ago.)

Trading Expectations (HOTUSD) For The Upcoming Trading Day Of Saturday 27th

For the upcoming trading day on Saturday, 27th we expect Hydro Protocol to open at $0.0026, and during the day (based on 14 day Average True Range), to move between $0.0024 and $0.0030, which gives a possible trading interval of +/-$0.0003 (+/-11.70%) up or down from last closing price. If Hydro Protocol takes out the full calculated possible swing range there will be an estimated 23.40% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0027 (1.04%) than the resistance at $0.0030 (12.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Hydro Protocol cryptocurrency A Buy?

Hydro Protocol 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. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.269 Hold/Accumulate Upgraded

Predicted Opening Price for Hydro Protocol of Saturday, April 27, 2024

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