Honeyland USD Cryptocurrency Forecast
Big movements in Honeyland USD cryptocurrency price on Thursday moving 12.63% between high and low
(Updated on Jun 20, 2024)
The Honeyland USD cryptocurrency price fell by -1.35% on the last day (Thursday, 20th Jun 2024) from $0.0384 to $0.0379. It has now fallen 4 days in a row. During the last trading day the cryptocurrency fluctuated 12.63% from a day low at $0.0339 to a day high of $0.0381. The price has fallen in 7 of the last 10 days and is down by -9.77% for this period. Volume has increased on the last day by 27 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, 146 thousand shares were bought and sold for approximately $5.52 thousand.
The cryptocurrency lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to fall -61.76% during the next 3 months and, with a 90% probability hold a price between $0.0060 and $0.0280 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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HXDUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 3.98%. 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 Honeyland USD 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 $0.0384 and $0.0476. A break-up above any of these levels will issue buy signals. Honeyland USD 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Honeyland USD cryptocurrency
Honeyland USD finds support from accumulated volume at $0.0378 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0043 between high and low, or 12.63%. For the last week, the cryptocurrency has had daily average volatility of 9.10%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HXDUSD) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Honeyland USD to open at $0.0366, and during the day (based on 14 day Average True Range), to move between $0.0333 and $0.0425, which gives a possible trading interval of +/-$0.0046 (+/-12.10%) up or down from last closing price. If Honeyland USD takes out the full calculated possible swing range there will be an estimated 24.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0378 (0.25%) than the resistance at $0.0419 (10.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Honeyland USD cryptocurrency A Buy?
Honeyland USD holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this cryptocurrency.
Current score: -4.367 Sell Candidate Unchanged
Predicted Opening Price for Honeyland USD of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $0.0366 ( 3.30%) | $0.0379 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HXDUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0409 | 7.99% |
| R2 | 0.0393 | 3.68% |
| R1 | 0.0383 | 1.02% |
| Price | 0.0379 | |
| S1 | 0.0350 | -7.61% |
| S2 | 0.0340 | -10.28% |
| S3 | 0.0323 | -14.59% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0452 | 19.27% |
| R2 | 0.0437 | 15.43% |
| R1 | 0.0419 | 10.58% |
| Price | 0.0379 | |
| S1 | 0.0378 | -0.246% |
| S2 | 0.0364 | -3.83% |
| S3 | 0 | - |
FAQ
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