Raiden Network Token USD Cryptocurrency Forecast
High volatility in Raiden Network Token USD cryptocurrency price on Saturday which ended trading at $0.0139
(Updated on May 18, 2024)
The Raiden Network Token USD cryptocurrency price fell by -2.51% on the last day (Saturday, 18th May 2024) from $0.0142 to $0.0139. During the last trading day the cryptocurrency fluctuated 12.29% from a day low at $0.0137 to a day high of $0.0154. The price has fallen in 5 of the last 10 days and is down by -2.73% 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 -2 thousand shares and in total, 17 thousand shares were bought and sold for approximately $241.09 .
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0123 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -30.88% during the next 3 months and, with a 90% probability hold a price between $0.0085 and $0.0201 at the end of this 3-month period.
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RDNUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. The Raiden Network Token USD 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 $0.0150 and $0.0157. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this cryptocurrency may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has risen 6.92%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Raiden Network Token USD cryptocurrency
Raiden Network Token USD finds support from accumulated volume at $0.0136 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 much during the day (volatility) and with periodic low trading volume this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0017 between high and low, or 12.29%. For the last week the cryptocurrency has had daily average volatility of 7.77%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RDNUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect Raiden Network Token USD to open at $0.0143, and during the day (based on 14 day Average True Range), to move between $0.0121 and $0.0157, which gives a possible trading interval of +/-$0.0018 (+/-13.10%) up or down from last closing price. If Raiden Network Token USD takes out the full calculated possible swing range there will be an estimated 26.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0136 (2.23%) than the resistance at $0.0163 (17.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Raiden Network Token USD cryptocurrency A Buy?
Raiden Network Token USD holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.525 Sell Candidate Downgraded
Predicted Opening Price for Raiden Network Token USD of Sunday, May 19, 2024
| Fair opening price May 19, 2024 | Current price |
|---|---|
| $0.0143 ( 3.27%) | $0.0139 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RDNUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0160 | 15.41 % | |
| R2 | 0.0154 | 10.77 % | ||
| R1 | 0.0150 | 7.91 % | ||
| Current price: | 0.0139 | |||
| Support | S1 | 0.0137 | -1.37 % | |
| S2 | 0.0133 | -4.24 % | ||
| S3 | 0.0127 | -8.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0170 | 22.50 % | |
| R2 | 0.0167 | 20.29 % | ||
| R1 | 0.0163 | 17.06 % | ||
| Current price | 0.0139 | |||
| Support | S1 | 0.0136 | -2.23% | |
| S2 | 0.0133 | -4.37% | ||
| S3 | 0.0130 | -6.47% |
FAQ
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