Orchid / US Dollar Cryptocurrency Forecast
Orchid / US Dollar cryptocurrency price ended at $0.112 on Thursday, after losing 1.84%.
(Updated on Apr 25, 2024)
The Orchid / US Dollar cryptocurrency price fell by -1.84% on the last day (Thursday, 25th Apr 2024) from $0.114 to $0.112. During the last trading day the cryptocurrency fluctuated 6.52% from a day low at $0.106 to a day high of $0.113. The price has been going up and down for this period, and there has been a 7.29% gain for the last 2 weeks. Volume has increased on the last day by 3 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, 4 million shares were bought and sold for approximately $447.45 thousand.
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 $0.102 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 18.00% during the next 3 months and, with a 90% probability hold a price between $0.120 and $0.212 at the end of this 3-month period.
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OXTUSD Signals & Forecast
There are few to no technical positive signals at the moment. The Orchid / 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 $0.130. On a fall, the cryptocurrency will find some support from the short-term average at $0.111. 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. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -32.83%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Orchid / US Dollar 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".
Support, Risk & Stop-loss for Orchid / US Dollar cryptocurrency
Orchid / US Dollar finds support from accumulated volume at $0.109 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 $0.0069 between high and low, or 6.52%. For the last week, the cryptocurrency has had daily average volatility of 4.91%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OXTUSD) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Orchid / US Dollar to open at $0.110, and during the day (based on 14 day Average True Range), to move between $0.101 and $0.123, which gives a possible trading interval of +/-$0.0108 (+/-9.63%) up or down from last closing price. If Orchid / US Dollar takes out the full calculated possible swing range there will be an estimated 19.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.109 (2.41%) than the resistance at $0.120 (6.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Orchid / US Dollar cryptocurrency A Buy?
The Orchid / US Dollar cryptocurrency holds several negative signals and despite the positive trend, we believe Orchid / US Dollar will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency.
Current score: -2.512 Sell Candidate Unchanged
Predicted Opening Price for Orchid / US Dollar of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.110 ( 1.58%) | $0.112 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OXTUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.117 | 4.59 % | |
| R2 | 0.114 | 2.23 % | ||
| R1 | 0.113 | 0.777 % | ||
| Current price: | 0.112 | |||
| Support | S1 | 0.107 | -3.93 % | |
| S2 | 0.106 | -5.39 % | ||
| S3 | 0.103 | -7.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.137 | 22.34 % | |
| R2 | 0.121 | 7.69 % | ||
| R1 | 0.120 | 6.88 % | ||
| Current price | 0.112 | |||
| Support | S1 | 0.109 | -2.41% | |
| S2 | 0.101 | -9.38% | ||
| S3 | 0.0945 | -15.55% |
FAQ
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