LocalTrade USD Cryptocurrency Forecast
Volatile ride for LocalTrade USD cryptocurrency price on Saturday moving between $0.0057 and $0.0068
(Updated on May 18, 2024)
The LocalTrade USD cryptocurrency price gained 14.84% on the last trading day (Saturday, 18th May 2024), rising from $0.0058 to $0.0066. During the last trading day the cryptocurrency fluctuated 18.30% from a day low at $0.0057 to a day high of $0.0068. The price has risen in 6 of the last 10 days and is up by 20.36% 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, 2 thousand more shares were traded than the day before. In total, 121 thousand shares were bought and sold for approximately $802.16 .
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 $0.0070 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 -34.76% during the next 3 months and, with a 90% probability hold a price between $0.0031 and $0.0046 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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LTTUSD Signals & Forecast
Mostly positive signals in the chart today. The LocalTrade USD cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the cryptocurrency has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0059 and $0.0064. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 28.47%. 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). LocalTrade USD has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for LocalTrade USD cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0063 and $0.0055. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, LocalTrade USD finds support just below today's level at $0.0063. If this is broken, then the next support from accumulated volume will be at $0.0055 and $0.0055.
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 $0.0010 between high and low, or 18.30%. For the last week, the cryptocurrency has had daily average volatility of 4.55%.
Our recommended stop-loss: $0.0064 (-3.50%) (This cryptocurrency has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (LTTUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect LocalTrade USD to open at $0.0064, and during the day (based on 14 day Average True Range), to move between $0.0063 and $0.0069, which gives a possible trading interval of +/-$0.0003 (+/-4.76%) up or down from last closing price. If LocalTrade USD takes out the full calculated possible swing range there will be an estimated 9.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0063 (5.38%) than the resistance at $0.0071 (6.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is LocalTrade 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: 3.882 Buy Candidate Upgraded
Predicted Opening Price for LocalTrade USD of Sunday, May 19, 2024
| Fair opening price May 19, 2024 | Current price |
|---|---|
| $0.0064 ( 3.61%) | $0.0066 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LTTUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0074 | 12.24 % | |
| R2 | 0.0070 | 6.19 % | ||
| R1 | 0.0068 | 2.44 % | ||
| Current price: | 0.0066 | |||
| Support | S1 | 0.0060 | -9.67 % | |
| S2 | 0.0057 | -13.41 % | ||
| S3 | 0.0053 | -19.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0076 | 14.40 % | |
| R2 | 0.0074 | 12.44 % | ||
| R1 | 0.0071 | 6.59 % | ||
| Current price | 0.0066 | |||
| Support | S1 | 0.0063 | -5.38% | |
| S2 | 0.0055 | -16.96% | ||
| S3 | 0.0055 | -17.52% |
FAQ
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