IOTA USD Cryptocurrency Forecast
IOTA USD cryptocurrency downgraded from Hold/Accumulate to Sell Candidate after Saturday trading session.
(Updated on May 18, 2024)
The IOTA USD cryptocurrency price gained 3.78% on the last trading day (Saturday, 18th May 2024), rising from $0.212 to $0.220. During the last trading day the cryptocurrency fluctuated 6.26% from a day low at $0.209 to a day high of $0.222. The price has fallen in 5 of the last 10 days but is still up by 0.6% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 9 million shares were bought and sold for approximately $1.96 million.
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 -28.43% during the next 3 months and, with a 90% probability hold a price between $0.103 and $0.230 at the end of this 3-month period.
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IOTAUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. The IOTA USD 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 $0.224. On a fall, the cryptocurrency will find some support from the short-term average at $0.209. 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 -47.15%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for IOTA USD cryptocurrency
IOTA USD finds support from accumulated volume at $0.218 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 and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.0131 between high and low, or 6.26%. For the last week, the cryptocurrency has had daily average volatility of 4.26%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IOTAUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect IOTA USD to open at $0.217, and during the day (based on 14 day Average True Range), to move between $0.206 and $0.233, which gives a possible trading interval of +/-$0.0138 (+/-6.30%) up or down from last closing price. If IOTA USD takes out the full calculated possible swing range there will be an estimated 12.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.218 (0.59%) than the resistance at $0.228 (3.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is IOTA USD cryptocurrency A Buy?
IOTA USD holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.195 Sell Candidate Downgraded
Predicted Opening Price for IOTA USD of Sunday, May 19, 2024
| Fair opening price May 19, 2024 | Current price |
|---|---|
| $0.217 ( 1.11%) | $0.220 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IOTAUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.230 | 4.86 % | |
| R2 | 0.225 | 2.58 % | ||
| R1 | 0.222 | 1.17 % | ||
| Current price: | 0.220 | |||
| Support | S1 | 0.212 | -3.39 % | |
| S2 | 0.209 | -4.80 % | ||
| S3 | 0.204 | -7.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.265 | 20.50 % | |
| R2 | 0.240 | 9.34 % | ||
| R1 | 0.228 | 3.74 % | ||
| Current price | 0.220 | |||
| Support | S1 | 0.218 | -0.592% | |
| S2 | 0.214 | -2.73% | ||
| S3 | 0.208 | -5.38% |
FAQ
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