Orion Protocol / US Dollar Cryptocurrency Forecast
Volatile ride for Orion Protocol / US Dollar cryptocurrency price on Wednesday moving between $1.33 and $1.49
(Updated on May 01, 2024)
The Orion Protocol / US Dollar cryptocurrency price fell by -16.68% on the last day (Wednesday, 1st May 2024) from $1.68 to $1.40. During the last trading day the cryptocurrency fluctuated 11.99% from a day low at $1.33 to a day high of $1.49. The price has risen in 7 of the last 10 days but is still down by -9.74% for this period. Volume has increased on the last day by 8 million 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, 16 million shares were bought and sold for approximately $22.12 million.
Given the current short-term trend, the cryptocurrency is expected to rise 27.56% during the next 3 months and, with a 90% probability hold a price between $1.79 and $3.83 at the end of this 3-month period.
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ORNUSD Signals & Forecast
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 Orion Protocol / 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 $1.64 and $1.90. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 18, 2024, and so far it has fallen -47.72%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely.
Support, Risk & Stop-loss for Orion Protocol / US Dollar cryptocurrency
Orion Protocol / US Dollar finds support from accumulated volume at $1.39 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 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 $0.160 between high and low, or 11.99%. For the last week, the cryptocurrency has had daily average volatility of 14.42%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ORNUSD) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Orion Protocol / US Dollar to open at $1.41, and during the day (based on 14 day Average True Range), to move between $1.17 and $1.63, which gives a possible trading interval of +/-$0.230 (+/-16.43%) up or down from last closing price. If Orion Protocol / US Dollar takes out the full calculated possible swing range there will be an estimated 32.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.39 (0.64%) than the resistance at $1.61 (15.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Orion Protocol / US Dollar cryptocurrency A Buy?
The Orion Protocol / US Dollar cryptocurrency holds several negative signals and despite the positive trend, we believe Orion Protocol / US Dollar will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency.
Current score: -4.531 Sell Candidate Unchanged
Predicted Opening Price for Orion Protocol / US Dollar of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $1.41 ( 0.667%) | $1.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ORNUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.57 | 12.10 % | |
| R2 | 1.51 | 7.73 % | ||
| R1 | 1.47 | 5.03 % | ||
| Current price: | 1.40 | |||
| Support | S1 | 1.35 | -3.70 % | |
| S2 | 1.31 | -6.40 % | ||
| S3 | 1.25 | -10.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.68 | 20.00 % | |
| R2 | 1.63 | 16.21 % | ||
| R1 | 1.61 | 15.06 % | ||
| Current price | 1.40 | |||
| Support | S1 | 1.39 | -0.643% | |
| S2 | 1.22 | -12.59% | ||
| S3 | 1.22 | -12.86% |
FAQ
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