OSEAN USD Cryptocurrency Forecast
OSEAN USD cryptocurrency downgraded from Hold/Accumulate to Sell Candidate after Saturday trading session.
(Updated on May 18, 2024)
The OSEAN USD cryptocurrency price fell by -3.18% on the last day (Saturday, 18th May 2024) from $0.0011 to $0.0011. During the last trading day the cryptocurrency fluctuated 3.00% from a day low at $0.0011 to a day high of $0.0011. The price has fallen in 7 of the last 10 days and is down by -23.08% 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 -310 shares and in total, 1 thousand shares were bought and sold for approximately $1.18 .
The cryptocurrency lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0010 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 53.41% during the next 3 months and, with a 90% probability hold a price between $0.0016 and $0.0056 at the end of this 3-month period.
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OSEANUSD 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 OSEAN USD 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 $0.0011 and $0.0013. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -63.48%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this cryptocurrency may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for OSEAN USD cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0010 and $0.0010. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0010 may give a huge drop in the cryptocurrency price.
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 $0.000032 between high and low, or 3.00%. For the last week the cryptocurrency has had daily average volatility of 5.15%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OSEANUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect OSEAN USD to open at $0.0011, and during the day (based on 14 day Average True Range), to move between $0.0010 and $0.0012, which gives a possible trading interval of +/-$0.0001 (+/-10.87%) up or down from last closing price. If OSEAN USD takes out the full calculated possible swing range there will be an estimated 21.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0010 (6.47%) than the resistance at $0.0011 (7.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is OSEAN USD cryptocurrency A Buy?
The OSEAN USD cryptocurrency holds several negative signals and despite the positive trend, we believe OSEAN USD will perform weakly in the next couple of days or weeks. Therefore, we 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: -2.549 Sell Candidate Downgraded
Predicted Opening Price for OSEAN USD of Sunday, May 19, 2024
| Fair opening price May 19, 2024 | Current price |
|---|---|
| $0.0011 ( 1.00%) | $0.0011 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OSEANUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0011 | 4.00 % | |
| R2 | 0.0011 | 2.86 % | ||
| R1 | 0.0011 | 2.15 % | ||
| Current price: | 0.0011 | |||
| Support | S1 | 0.0011 | -0.146 % | |
| S2 | 0.0011 | -0.85 % | ||
| S3 | 0.0010 | -2.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0012 | 13.70 % | |
| R2 | 0.0012 | 11.26 % | ||
| R1 | 0.0011 | 7.69 % | ||
| Current price | 0.0011 | |||
| Support | S1 | 0.0010 | -6.47% | |
| S2 | 0.0010 | -7.69% | ||
| S3 | 0 | . |
FAQ
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