Raydium / US Dollar Cryptocurrency Forecast
Volatile ride for Raydium / US Dollar cryptocurrency price on Saturday moving between $1.68 and $1.88
(Updated on May 18, 2024)
The Raydium / US Dollar cryptocurrency price gained 9.18% on the last trading day (Saturday, 18th May 2024), rising from $1.68 to $1.83. During the last trading day the cryptocurrency fluctuated 11.93% from a day low at $1.68 to a day high of $1.88. The price has fallen in 6 of the last 10 days but is still up by 5.38% over the past 2 weeks. Volume fell on the last day by -25 million shares and in total, 9 million shares were bought and sold for approximately $16.05 million. 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 cryptocurrency lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to rise 17.25% during the next 3 months and, with a 90% probability hold a price between $1.58 and $3.71 at the end of this 3-month period.
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RAYUSD Signals & Forecast
The Raydium / US Dollar cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $1.62 and $1.61. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The cryptocurrency should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, March 19, 2024, and so far it has fallen -35.65%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Raydium / US Dollar cryptocurrency
Raydium / US Dollar finds support from accumulated volume at $1.74 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 $0.200 between high and low, or 11.93%. For the last week, the cryptocurrency has had daily average volatility of 8.10%.
Our recommended stop-loss: $1.74 (-5.28%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 60 days ago.)
Trading Expectations (RAYUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect Raydium / US Dollar to open at $1.80, and during the day (based on 14 day Average True Range), to move between $1.68 and $1.98, which gives a possible trading interval of +/-$0.151 (+/-8.22%) up or down from last closing price. If Raydium / US Dollar takes out the full calculated possible swing range there will be an estimated 16.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.74 (4.82%) than the resistance at $2.09 (13.99%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Raydium / US Dollar cryptocurrency A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Raydium / US Dollar cryptocurrency to perform well in the short-term. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.710 Buy Candidate Upgraded
Predicted Opening Price for Raydium / US Dollar of Sunday, May 19, 2024
| Fair opening price May 19, 2024 | Current price |
|---|---|
| $1.80 ( 1.95%) | $1.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RAYUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.00 | 8.98 % | |
| R2 | 1.92 | 4.80 % | ||
| R1 | 1.87 | 2.22 % | ||
| Current price: | 1.83 | |||
| Support | S1 | 1.72 | -6.13 % | |
| S2 | 1.67 | -8.70 % | ||
| S3 | 1.60 | -12.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.13 | 16.21 % | |
| R2 | 2.13 | 16.04 % | ||
| R1 | 2.09 | 13.99 % | ||
| Current price | 1.83 | |||
| Support | S1 | 1.74 | -4.82% | |
| S2 | 1.46 | -20.31% | ||
| S3 | 1.43 | -21.86% |
FAQ
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