ReddCoin Cryptocurrency Forecast

Volatile ride for ReddCoin cryptocurrency price on Saturday moving between $0.0001 and $0.0002
(Updated on May 18, 2024)

RDDUSD Signals & Forecast

The ReddCoin 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 $0.0001 and $0.0001. 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). ReddCoin has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Wednesday, March 20, 2024, and so far it has fallen -48.83%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for ReddCoin cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0002 and $0.0002. 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, ReddCoin finds support just below today's level at $0.0002. If this is broken, then the next support from accumulated volume will be at $0.0002 and $0.0002.

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 $0.0001 between high and low, or 107.41%. For the last week, the cryptocurrency has had daily average volatility of 58.21%.

Our recommended stop-loss: $0.0002 (-5.40%) (This cryptocurrency has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a sell signal from a pivot top found 59 days ago.)

Trading Expectations (RDDUSD) For The Upcoming Trading Day Of Sunday 19th

For the upcoming trading day on Sunday, 19th we expect ReddCoin to open at $0.0002, and during the day (based on 14 day Average True Range), to move between $0.00001671 and $0.0004, which gives a possible trading interval of +/-$0.0002 (+/-92.37%) up or down from last closing price. If ReddCoin takes out the full calculated possible swing range there will be an estimated 184.74% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0002 (11.42%) than the support at $0.0002 (17.35%), 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 ReddCoin cryptocurrency A Buy?

Several short-term signals are positive, despite the cryptocurrency being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 4.307 Buy Candidate Upgraded

Predicted Opening Price for ReddCoin of Sunday, May 19, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.