Rarible / US Dollar Cryptocurrency Forecast
Stronger technical forecast for Rarible / US Dollar cryptocurrency price after Saturday trading.
(Updated on Jun 01, 2024)
The Rarible / US Dollar cryptocurrency price fell by -1.43% on the last day (Saturday, 1st Jun 2024) from $2.79 to $2.75. During the last trading day the cryptocurrency fluctuated 4.83% from a day low at $2.69 to a day high of $2.82. The price has fallen in 5 of the last 10 days and is down by -8.03% 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 -40 thousand shares and in total, 808 thousand shares were bought and sold for approximately $2.22 million.
The cryptocurrency lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.16 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 8.46% during the next 3 months and, with a 90% probability hold a price between $2.35 and $6.65 at the end of this 3-month period.
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RARIUSD 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 Rarible / 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 $2.85 and $3.06. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -52.99%. 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 Rarible / US Dollar cryptocurrency
Rarible / US Dollar finds support from accumulated volume at $2.71 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.130 between high and low, or 4.83%. For the last week, the cryptocurrency has had daily average volatility of 5.04%.
Our recommended stop-loss: $2.58 (-6.30%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 71 days ago.)
Trading Expectations (RARIUSD) For The Upcoming Trading Day Of Sunday 2nd
For the upcoming trading day on Sunday, 2nd we expect Rarible / US Dollar to open at $2.75, and during the day (based on 14 day Average True Range), to move between $2.53 and $2.97, which gives a possible trading interval of +/-$0.222 (+/-8.07%) up or down from last closing price. If Rarible / US Dollar takes out the full calculated possible swing range there will be an estimated 16.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.76 (0.36%) than the support at $2.71 (1.45%), 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 Rarible / US Dollar cryptocurrency A Buy?
Rarible / US Dollar holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.871 Hold/Accumulate Upgraded
Predicted Opening Price for Rarible / US Dollar of Sunday, June 2, 2024
Fair opening price June 2, 2024 | Current price |
---|---|
$2.75 ( 0.121%) | $2.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RARIUSD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.88 | 4.85 % | |
R2 | 2.83 | 3.04 % | ||
R1 | 2.80 | 1.93 % | ||
Current price: | 2.75 | |||
Support | S1 | 2.70 | -1.68 % | |
S2 | 2.67 | -2.80 % | ||
S3 | 2.62 | -4.61 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.12 | 13.45 % | |
R2 | 2.79 | 1.45 % | ||
R1 | 2.76 | 0.364 % | ||
Current price | 2.75 | |||
Support | S1 | 2.71 | -1.45% | |
S2 | 2.65 | -3.64% | ||
S3 | 2.52 | -8.36% |
FAQ
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