Ontology / US Dollar Cryptocurrency Forecast

Ontology / US Dollar cryptocurrency downgraded to Hold/Accumulate
(Updated on May 01, 2024)

ONTUSD Signals & Forecast

The Ontology / US Dollar 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 $0.395 and $0.360. 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 Tuesday, April 23, 2024, and so far it has fallen -13.99%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Ontology / US Dollar cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.368 and $0.329. 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, Ontology / US Dollar finds support just below today's level at $0.368. If this is broken, then the next support from accumulated volume will be at $0.329 and $0.310.

This cryptocurrency may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0302 between high and low, or 7.91%. For the last week, the cryptocurrency has had daily average volatility of 10.64%.

Our recommended stop-loss: $0.377 (-5.78%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 8 days ago.)

Trading Expectations (ONTUSD) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Ontology / US Dollar to open at $0.398, and during the day (based on 14 day Average True Range), to move between $0.351 and $0.449, which gives a possible trading interval of +/-$0.0491 (+/-12.28%) up or down from last closing price. If Ontology / US Dollar takes out the full calculated possible swing range there will be an estimated 24.56% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.403 (0.82%) than the support at $0.368 (8.00%), 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 Ontology / US Dollar cryptocurrency A Buy?

Ontology / 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.130 Hold/Accumulate Downgraded

Predicted Opening Price for Ontology / US Dollar of Thursday, May 2, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.