Obitan Chain USD Cryptocurrency Forecast
Red day on Tuesday for Obitan Chain USD
(Updated on Jun 04, 2024)
No changes to the price of Obitan Chain USD cryptocurrency on the last trading day (Tuesday, 4th Jun 2024). During the last trading day the cryptocurrency fluctuated 2.70% from a day low at $0.000037 to a day high of $0.000038. The price has been going up and down for this period, and there has been a 0% change for the last 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 $0.00003877 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 -6.22% during the next 3 months and, with a 90% probability hold a price between $0.00002653 and $0.00003636 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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OBTCUSD Signals & Forecast
The Obitan Chain 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 $0.00003786 and $0.00003359. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, May 27, 2024, and so far it has fallen -2.56%. 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 fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Obitan Chain USD cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.000035 and $0.000031. 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, Obitan Chain USD finds support just below today's level at $0.000035. If this is broken, then the next support from accumulated volume will be at $0.000031 and $0.00003.
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 $0.000001 between high and low, or 2.70%. For the last week the cryptocurrency has had daily average volatility of 1.08%.
Our recommended stop-loss: $0.00003634 (-4.36%) (This cryptocurrency has high daily movements and this gives high risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (OBTCUSD) For The Upcoming Trading Day Of Wednesday 5th
For the upcoming trading day on Wednesday, 5th we expect Obitan Chain USD to open at $0.00003767, and during the day (based on 14 day Average True Range), to move between $0.00003695 and $0.00003905, which gives a possible trading interval of +/-$0.00000105 (+/-2.77%) up or down from last closing price. If Obitan Chain USD takes out the full calculated possible swing range there will be an estimated 5.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.000039 (2.63%) than the support at $0.000035 (7.89%), 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 Obitan Chain USD cryptocurrency A Buy?
Obitan Chain USD holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.130 Hold/Accumulate Unchanged
Predicted Opening Price for Obitan Chain USD of Wednesday, June 5, 2024
Fair opening price June 5, 2024 | Current price |
---|---|
$0.00003767 ( 0.88%) | $0.000038 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OBTCUSD
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.00003867 | 1.75% |
R2 | 0.00003828 | 0.749% |
R1 | 0.00003805 | 0.128% |
Price | 0.000038 | |
S1 | 0.00003728 | -1.88% |
S2 | 0.00003705 | -2.50% |
S3 | 0.00003667 | -3.51% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0.00004 | 5.26% |
R1 | 0.000039 | 2.63% |
Price | 0.000038 | |
S1 | 0.000035 | -7.89% |
S2 | 0.000031 | -18.42% |
S3 | 0.00003 | -21.05% |
FAQ
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