ONINO USD Cryptocurrency Forecast
ONINO USD cryptocurrency price ended at $0.266 on Saturday, after losing 1.55%.
(Updated on May 18, 2024)
The ONINO USD cryptocurrency price fell by -1.55% on the last day (Saturday, 18th May 2024) from $0.270 to $0.266. During the last trading day the cryptocurrency fluctuated 2.30% from a day low at $0.262 to a day high of $0.268. The price has risen in 5 of the last 10 days and is up by 10.62% over the past 2 weeks. Volume has increased on the last day by 12 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 33 thousand shares were bought and sold for approximately $8.87 thousand.
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 $0.270 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 -41.21% during the next 3 months and, with a 90% probability hold a price between $0.0968 and $0.159 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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ONIUSD Signals & Forecast
The ONINO 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 $0.256 and $0.240. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -2.97%. Further fall is indicated until a new bottom pivot has been found. ONINO USD gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for ONINO USD cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.250 and $0.219. 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, ONINO USD finds support just below today's level at $0.250. If this is broken, then the next support from accumulated volume will be at $0.219 and $0.207.
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 $0.0060 between high and low, or 2.30%. For the last week, the cryptocurrency has had daily average volatility of 4.84%.
Our recommended stop-loss: $0.256 (-3.89%) (This cryptocurrency has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (ONIUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect ONINO USD to open at $0.265, and during the day (based on 14 day Average True Range), to move between $0.245 and $0.287, which gives a possible trading interval of +/-$0.0211 (+/-7.95%) up or down from last closing price. If ONINO USD takes out the full calculated possible swing range there will be an estimated 15.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.250 (5.97%) than the resistance at $0.285 (7.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ONINO USD cryptocurrency A Buy?
ONINO 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: 0.659 Hold/Accumulate Unchanged
Predicted Opening Price for ONINO USD of Sunday, May 19, 2024
| Fair opening price May 19, 2024 | Current price |
|---|---|
| $0.265 ( 0.312%) | $0.266 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ONIUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.271 | 1.95 % | |
| R2 | 0.269 | 1.08 % | ||
| R1 | 0.267 | 0.551 % | ||
| Current price: | 0.266 | |||
| Support | S1 | 0.263 | -1.18 % | |
| S2 | 0.261 | -1.71 % | ||
| S3 | 0.259 | -2.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.302 | 13.48 % | |
| R2 | 0.288 | 8.46 % | ||
| R1 | 0.285 | 7.29 % | ||
| Current price | 0.266 | |||
| Support | S1 | 0.250 | -5.97% | |
| S2 | 0.219 | -17.67% | ||
| S3 | 0.207 | -22.08% |
FAQ
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