OKB / US Dollar Cryptocurrency Forecast
OKB / US Dollar cryptocurrency downgraded from Hold/Accumulate to Sell Candidate after Sunday trading session.
(Updated on May 26, 2024)
The OKB / US Dollar cryptocurrency price fell by -0.385% on the last day (Sunday, 26th May 2024) from $48.65 to $48.47. During the last trading day the cryptocurrency fluctuated 1.11% from a day low at $48.37 to a day high of $48.91. The price has risen in 5 of the last 10 days but is still down by -2.17% for this period. Volume fell on the last day along with the cryptocurrency, which is actually a good sign as volume should follow the cryptocurrency. On the last day, the trading volume fell by -2 million shares and in total, 4 million shares were bought and sold for approximately $178.00 million.
The cryptocurrency lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to fall -19.09% during the next 3 months and, with a 90% probability hold a price between $36.02 and $47.79 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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OKBUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. The OKB / 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 $49.30 and $50.55. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 0.0812%. 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).
Support, Risk & Stop-loss for OKB / US Dollar cryptocurrency
OKB / US Dollar finds support from accumulated volume at $48.43 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the cryptocurrency tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the cryptocurrency moved $0.538 between high and low, or 1.11%. For the last week the cryptocurrency has had daily average volatility of 1.75%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OKBUSD) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect OKB / US Dollar to open at $48.58, and during the day (based on 14 day Average True Range), to move between $47.14 and $49.80, which gives a possible trading interval of +/-$1.33 (+/-2.74%) up or down from last closing price. If OKB / US Dollar takes out the full calculated possible swing range there will be an estimated 5.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $48.43 (0.08%) than the resistance at $53.66 (10.72%), 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 negative signals and we believe that 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: -1.010 Sell Candidate Downgraded
Predicted Opening Price for OKB / US Dollar of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| $48.58 ( 0.238%) | $48.47 |
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 | 49.12 | 1.35 % | |
| R2 | 48.91 | 0.92 % | ||
| R1 | 48.79 | 0.662 % | ||
| Current price: | 48.47 | |||
| Support | S1 | 48.38 | -0.186 % | |
| S2 | 48.25 | -0.448 % | ||
| S3 | 48.04 | -0.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 58.34 | 20.38 % | |
| R2 | 56.94 | 17.49 % | ||
| R1 | 53.66 | 10.72 % | ||
| Current price | 48.47 | |||
| Support | S1 | 48.43 | -0.0811% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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