Orbit Chain / US Dollar Cryptocurrency Forecast
On Monday, Orbit Chain / US Dollar cryptocurrency price gained an impressive 5.18%
(Updated on May 20, 2024)
The Orbit Chain / US Dollar cryptocurrency price gained 5.18% on the last trading day (Monday, 20th May 2024), rising from $0.0074 to $0.0078. During the last trading day the cryptocurrency fluctuated 6.48% from a day low at $0.0074 to a day high of $0.0079. The price has fallen in 5 of the last 10 days and is down by -5.89% for this period. Volume fell on the last day by -17 thousand shares and in total, 117 thousand shares were bought and sold for approximately $910.47 . 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 cryptocurrencyhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.0053, a level that may pose a second chance to hit a runner. According to fan-theory $0.0322 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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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ORCUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Saturday, May 18, 2024, and so far it has risen 6.91%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Orbit Chain / 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 $0.0085. On a fall, the cryptocurrency will find some support from the short-term average at $0.0075. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Orbit Chain / US Dollar cryptocurrency
Orbit Chain / US Dollar finds support from accumulated volume at $0.0075 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0005 between high and low, or 6.48%. For the last week the cryptocurrency has had daily average volatility of 5.02%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ORCUSD) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Orbit Chain / US Dollar to open at $0.0077, and during the day (based on 14 day Average True Range), to move between $0.0069 and $0.0088, which gives a possible trading interval of +/-$0.0010 (+/-12.30%) up or down from last closing price. If Orbit Chain / US Dollar takes out the full calculated possible swing range there will be an estimated 24.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0075 (3.84%) than the resistance at $0.0089 (14.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Orbit Chain / US Dollar cryptocurrency A Buy?
Orbit Chain / 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.
Current score: -3.861 Sell Candidate Unchanged
Predicted Opening Price for Orbit Chain / US Dollar of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $0.0077 ( 1.67%) | $0.0078 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ORCUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0082 | 4.45 % | |
| R2 | 0.0080 | 2.11 % | ||
| R1 | 0.0079 | 0.665 % | ||
| Current price: | 0.0078 | |||
| Support | S1 | 0.0075 | -4.01 % | |
| S2 | 0.0074 | -5.45 % | ||
| S3 | 0.0072 | -7.79 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0094 | 20.52 % | |
| R2 | 0.0090 | 15.32 % | ||
| R1 | 0.0089 | 14.43 % | ||
| Current price | 0.0078 | |||
| Support | S1 | 0.0075 | -3.84% | |
| S2 | 0.0074 | -5.67% | ||
| S3 | 0.0064 | -18.52% |
FAQ
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