Jade Currency / US Dollar Cryptocurrency Forecast
Weaker technical forecast for Jade Currency / US Dollar as cryptocurrency downgraded to Sell Candidate.
(Updated on May 18, 2024)
The Jade Currency / US Dollar cryptocurrency price gained 0.655% on the last trading day (Saturday, 18th May 2024), rising from $0.0011 to $0.0011. During the last trading day the cryptocurrency fluctuated 1.12% from a day low at $0.0011 to a day high of $0.0011. The price has risen in 5 of the last 10 days but is still down by -9.81% for this period. Volume fell on the last day by -525 shares and in total, 14 shares were bought and sold for approximately $0.0151 . 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 part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0011 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 6.59% during the next 3 months and, with a 90% probability hold a price between $0.0011 and $0.0022 at the end of this 3-month period.
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JADEUSD Signals & Forecast
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 Jade Currency / 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 $0.0011 and $0.0013. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -46.52%. Further fall is indicated until a new bottom pivot has been found. 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 Jade Currency / US Dollar cryptocurrency
Jade Currency / US Dollar finds support from accumulated volume at $0.0011 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 periodic low trading volume this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.000012 between high and low, or 1.12%. For the last week the cryptocurrency has had daily average volatility of 1.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (JADEUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect Jade Currency / US Dollar to open at $0.0011, and during the day (based on 14 day Average True Range), to move between $0.0010 and $0.0011, which gives a possible trading interval of +/-$0.00005434 (+/-5.05%) up or down from last closing price. If Jade Currency / US Dollar takes out the full calculated possible swing range there will be an estimated 10.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0011 (0.74%) than the support at $0.0011 (0.84%), 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 Jade Currency / US Dollar cryptocurrency A Buy?
The Jade Currency / US Dollar cryptocurrency holds several negative signals and despite the positive trend, we believe Jade Currency / US Dollar will perform weakly in the next couple of days or weeks. Therefore, we 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: -3.034 Sell Candidate Downgraded
Predicted Opening Price for Jade Currency / US Dollar of Sunday, May 19, 2024
| Fair opening price May 19, 2024 | Current price |
|---|---|
| $0.0011 ( 0.372%) | $0.0011 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JADEUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0011 | 1.49 % | |
| R2 | 0.0011 | 1.06 % | ||
| R1 | 0.0011 | 0.798 % | ||
| Current price: | 0.0011 | |||
| Support | S1 | 0.0011 | -0.0543 % | |
| S2 | 0.0011 | -0.317 % | ||
| S3 | 0.0011 | -0.743 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0012 | 13.48 % | |
| R2 | 0.0012 | 7.06 % | ||
| R1 | 0.0011 | 0.743 % | ||
| Current price | 0.0011 | |||
| Support | S1 | 0.0011 | -0.84% | |
| S2 | 0.0011 | -1.58% | ||
| S3 | 0.0010 | -9.29% |
FAQ
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