Huobi Token / US Dollar Cryptocurrency Forecast
Huobi Token / US Dollar cryptocurrency price down 0.294% on Saturday
(Updated on May 11, 2024)
The Huobi Token / US Dollar cryptocurrency price fell by -0.294% on the last day (Saturday, 11th May 2024) from $0.613 to $0.611. During the last trading day the cryptocurrency fluctuated 3.01% from a day low at $0.598 to a day high of $0.616. The price has been going up and down for this period, and there has been a 5.6% gain for the last 2 weeks. Volume has increased on the last day by 158 thousand 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, 241 thousand shares were bought and sold for approximately $147.57 thousand.
The cryptocurrency lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.649 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the cryptocurrency is expected to fall -56.18% during the next 3 months and, with a 90% probability hold a price between $0.176 and $0.285 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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HTUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 7.37%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Huobi Token / 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 $0.622. On a fall, the cryptocurrency will find some support from the short-term average at $0.603. 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. Huobi Token / US Dollar gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Huobi Token / US Dollar cryptocurrency
Huobi Token / US Dollar finds support from accumulated volume at $0.602 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the cryptocurrency moved $0.0180 (3.01%) between high and low. For the last week, the cryptocurrency has had daily average volatility of 5.18%.
Our recommended stop-loss: $0.584 (-4.53%) (This cryptocurrency has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (HTUSD) For The Upcoming Trading Day Of Sunday 12th
For the upcoming trading day on Sunday, 12th we expect Huobi Token / US Dollar to open at $0.609, and during the day (based on 14 day Average True Range), to move between $0.531 and $0.692, which gives a possible trading interval of +/-$0.0804 (+/-13.16%) up or down from last closing price. If Huobi Token / US Dollar takes out the full calculated possible swing range there will be an estimated 26.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.602 (1.46%) than the resistance at $0.707 (15.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Huobi Token / US Dollar cryptocurrency A Buy?
Huobi Token / 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: 0.661 Hold/Accumulate Unchanged
Predicted Opening Price for Huobi Token / US Dollar of Sunday, May 12, 2024
| Fair opening price May 12, 2024 | Current price |
|---|---|
| $0.609 ( 0.421%) | $0.611 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HTUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.627 | 2.52 % | |
| R2 | 0.620 | 1.40 % | ||
| R1 | 0.616 | 0.703 % | ||
| Current price: | 0.611 | |||
| Support | S1 | 0.602 | -1.55 % | |
| S2 | 0.598 | -2.24 % | ||
| S3 | 0.591 | -3.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.756 | 23.74 % | |
| R2 | 0.752 | 22.95 % | ||
| R1 | 0.707 | 15.62 % | ||
| Current price | 0.611 | |||
| Support | S1 | 0.602 | -1.46% | |
| S2 | 0.594 | -2.82% | ||
| S3 | 0.580 | -5.20% |
FAQ
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