Indorse Token USD Cryptocurrency Forecast
Indorse Token USD cryptocurrency upgraded to Buy Candidate.
(Updated on May 18, 2024)
The Indorse Token USD cryptocurrency price gained 0.712% on the last trading day (Saturday, 18th May 2024), rising from $0.0021 to $0.0021. During the last trading day the cryptocurrency fluctuated 1.42% from a day low at $0.0021 to a day high of $0.0021. The price has risen in 7 of the last 10 days and is up by 7.77% over the past 2 weeks.
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 $0.0024 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 -27.56% during the next 3 months and, with a 90% probability hold a price between $0.0004 and $0.0018 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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INDUSD Signals & Forecast
The Indorse Token USD cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0020 and $0.0020. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 58.88%. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Indorse Token USD cryptocurrency
Indorse Token USD finds support from accumulated volume at $0.0021 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the cryptocurrency moved $0.00003 between high and low, or 1.42%. For the last week the cryptocurrency has had daily average volatility of 3.11%.
Our recommended stop-loss: $0.0021 (-3.30%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 36 days ago.)
Trading Expectations (INDUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect Indorse Token USD to open at $0.0021, and during the day (based on 14 day Average True Range), to move between $0.0020 and $0.0022, which gives a possible trading interval of +/-$0.00008302 (+/-3.91%) up or down from last closing price. If Indorse Token USD takes out the full calculated possible swing range there will be an estimated 7.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0021 (0.71%) than the resistance at $0.0024 (15.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Indorse Token USD cryptocurrency A Buy?
Several short-term signals are positive, despite the cryptocurrency being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for cryptocurrency to perform well in the short-term. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.611 Buy Candidate Upgraded
Predicted Opening Price for Indorse Token USD of Sunday, May 19, 2024
| Fair opening price May 19, 2024 | Current price |
|---|---|
| $0.0021 ( 0.00000000%) | $0.0021 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INDUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0022 | 1.41 % | |
| R2 | 0.0021 | 0.87 % | ||
| R1 | 0.0021 | 0.540 % | ||
| Current price: | 0.0021 | |||
| Support | S1 | 0.0021 | -0.540 % | |
| S2 | 0.0021 | -0.87 % | ||
| S3 | 0.0021 | -1.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0025 | 17.59 % | |
| R2 | 0.0025 | 16.64 % | ||
| R1 | 0.0024 | 15.28 % | ||
| Current price | 0.0021 | |||
| Support | S1 | 0.0021 | -0.707% | |
| S2 | 0.0020 | -6.84% | ||
| S3 | 0.0019 | -10.00% |
FAQ
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