IRISnet / US Dollar Cryptocurrency Forecast
Evaluation of IRISnet / US Dollar cryptocurrency downgraded after the last trading session.
(Updated on May 18, 2024)
The IRISnet / US Dollar cryptocurrency price gained 2.96% on the last trading day (Saturday, 18th May 2024), rising from $0.0230 to $0.0237. During the last trading day the cryptocurrency fluctuated 4.80% from a day low at $0.0229 to a day high of $0.0240. The price has fallen in 7 of the last 10 days and is down by -11.34% for this period. Volume fell on the last day by -346 thousand shares and in total, 955 thousand shares were bought and sold for approximately $22.63 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0228 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -28.04% during the next 3 months and, with a 90% probability hold a price between $0.0164 and $0.0252 at the end of this 3-month period.
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IRISUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 17, 2024, and so far it has risen 2.96%. 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 IRISnet / US Dollar 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 $0.0242 and $0.0273. A break-up above any of these levels will issue buy signals. 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 IRISnet / US Dollar cryptocurrency
IRISnet / US Dollar finds support from accumulated volume at $0.0230 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 $0.0011 between high and low, or 4.80%. For the last week the cryptocurrency has had daily average volatility of 5.82%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IRISUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect IRISnet / US Dollar to open at $0.0235, and during the day (based on 14 day Average True Range), to move between $0.0218 and $0.0255, which gives a possible trading interval of +/-$0.0018 (+/-7.77%) up or down from last closing price. If IRISnet / US Dollar takes out the full calculated possible swing range there will be an estimated 15.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0238 (0.38%) than the support at $0.0230 (2.87%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is IRISnet / US Dollar cryptocurrency A Buy?
IRISnet / US Dollar 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. 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: -4.546 Sell Candidate Downgraded
Predicted Opening Price for IRISnet / US Dollar of Sunday, May 19, 2024
| Fair opening price May 19, 2024 | Current price |
|---|---|
| $0.0235 ( 0.648%) | $0.0237 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IRISUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0246 | 4.00 % | |
| R2 | 0.0242 | 2.22 % | ||
| R1 | 0.0239 | 1.13 % | ||
| Current price: | 0.0237 | |||
| Support | S1 | 0.0231 | -2.42 % | |
| S2 | 0.0228 | -3.52 % | ||
| S3 | 0.0224 | -5.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0262 | 10.68 % | |
| R2 | 0.0259 | 9.42 % | ||
| R1 | 0.0238 | 0.380 % | ||
| Current price | 0.0237 | |||
| Support | S1 | 0.0230 | -2.87% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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