Raydium / US Dollar Cryptocurrency Forecast
Volatile ride for Raydium / US Dollar cryptocurrency price on Tuesday moving between $1.81 and $2.00
(Updated on Jul 02, 2024)
The Raydium / US Dollar cryptocurrency price gained 5.58% on the last trading day (Tuesday, 2nd Jul 2024), rising from $1.84 to $1.94. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the cryptocurrency fluctuated 10.54% from a day low at $1.81 to a day high of $2.00. The price has risen in 6 of the last 10 days and is up by 27.67% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 15 million more shares were traded than the day before. In total, 33 million shares were bought and sold for approximately $64.67 million.
The cryptocurrencyhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $1.90, a level that may pose a second chance to hit a runner. According to fan-theory $2.63 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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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 $1.72 and $1.64. 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 is rising along with the price. This is considered to be a good technical signal. 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, May 21, 2024, and so far it has fallen -2.76%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Raydium / US Dollar cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $1.68 and $1.62. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, Raydium / US Dollar finds support just below today's level at $1.68. If this is broken, then the next support from accumulated volume will be at $1.62 and $1.53.
This cryptocurrency may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.190 between high and low, or 10.54%. For the last week, the cryptocurrency has had daily average volatility of 7.35%.
The Raydium / US Dollar cryptocurrency is extremely overbought on RSI14 (76). Normally this may pose a good selling opportunity but since the cryptocurrency has broken the trend up, the chance for a major correction due to high RSI is very small as the cryptocurrency will find support at the trend broken.
Our recommended stop-loss: $1.83 (-5.48%) (This cryptocurrency has high daily movements and this gives high risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from a pivot top found 105 days ago.)
Trading Expectations (RAYUSD) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Raydium / US Dollar to open at $1.91, and during the day (based on 14 day Average True Range), to move between $1.81 and $2.07, which gives a possible trading interval of +/-$0.130 (+/-6.68%) up or down from last closing price. If Raydium / US Dollar takes out the full calculated possible swing range there will be an estimated 13.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.16 (11.40%) than the support at $1.68 (13.46%), 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 Raydium / US Dollar cryptocurrency A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
Current score: 3.307 Buy Candidate Unchanged
Predicted Opening Price for Raydium / US Dollar of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $1.91 ( 1.31%) | $1.94 |
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 | |
|---|---|---|
| R3 | 2.10 | 8.51% |
| R2 | 2.03 | 4.76% |
| R1 | 1.99 | 2.44% |
| Price | 1.94 | |
| S1 | 1.84 | -5.06% |
| S2 | 1.80 | -7.37% |
| S3 | 1.72 | -11.12% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.33 | 20.11% |
| R2 | 2.25 | 15.97% |
| R1 | 2.16 | 11.40% |
| Price | 1.94 | |
| S1 | 1.68 | -13.46% |
| S2 | 1.62 | -16.75% |
| S3 | 1.53 | -21.26% |
FAQ
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