OKB / US Dollar Cryptocurrency Forecast
OKB / US Dollar cryptocurrency price ended at $51.44 on Sunday, after gaining 0.81%.
(Updated on May 05, 2024)
The OKB / US Dollar cryptocurrency price gained 0.81% on the last trading day (Sunday, 5th May 2024), rising from $51.02 to $51.44. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the cryptocurrency fluctuated 3.94% from a day low at $50.12 to a day high of $52.10. The price has been going up and down for this period, and there has been a -3.14% loss for the last 2 weeks. Volume fell on the last day by -807 thousand shares and in total, 5 million shares were bought and sold for approximately $258.50 million. 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 $48.54 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 3.73% during the next 3 months and, with a 90% probability hold a price between $50.35 and $74.89 at the end of this 3-month period.
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OKBUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. The OKB / US Dollar 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 $54.65. On a fall, the cryptocurrency will find some support from the short-term average at $50.18. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 6.22%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The cryptocurrency should be watched closely.
Support, Risk & Stop-loss for OKB / US Dollar cryptocurrency
OKB / US Dollar finds support from accumulated volume at $50.84 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 $1.97 between high and low, or 3.94%. For the last week, the cryptocurrency has had daily average volatility of 4.48%.
Our recommended stop-loss: $49.48 (-3.81%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (OKBUSD) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect OKB / US Dollar to open at $51.22, and during the day (based on 14 day Average True Range), to move between $48.94 and $53.93, which gives a possible trading interval of +/-$2.50 (+/-4.85%) up or down from last closing price. If OKB / US Dollar takes out the full calculated possible swing range there will be an estimated 9.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $50.84 (1.15%) than the resistance at $53.66 (4.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is OKB / US Dollar cryptocurrency A Buy?
OKB / US Dollar 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: 0.042 Hold/Accumulate Unchanged
Predicted Opening Price for OKB / US Dollar of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $51.22 ( 0.423%) | $51.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OKBUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.19 | 3.41 % | |
| R2 | 52.44 | 1.95 % | ||
| R1 | 51.97 | 1.04 % | ||
| Current price: | 51.44 | |||
| Support | S1 | 50.46 | -1.89 % | |
| S2 | 50.00 | -2.79 % | ||
| S3 | 49.25 | -4.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 58.34 | 13.43 % | |
| R2 | 56.94 | 10.70 % | ||
| R1 | 53.66 | 4.33 % | ||
| Current price | 51.44 | |||
| Support | S1 | 50.84 | -1.15% | |
| S2 | 50.75 | -1.33% | ||
| S3 | 50.74 | -1.36% |
FAQ
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