Ridotto USD Cryptocurrency Forecast
Ridotto USD cryptocurrency downgraded from Hold/Accumulate to Sell Candidate after Saturday trading session.
(Updated on May 18, 2024)
The Ridotto USD cryptocurrency price gained 0.552% on the last trading day (Saturday, 18th May 2024), rising from $0.0306 to $0.0308. During the last trading day the cryptocurrency fluctuated 0.237% from a day low at $0.0308 to a day high of $0.0308. The price has fallen in 5 of the last 10 days but is still up by 3.47% over the past 2 weeks. Volume fell on the last day by -4 thousand shares and in total, 16 thousand shares were bought and sold for approximately $489.98 . 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 falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to fall -30.07% during the next 3 months and, with a 90% probability hold a price between $0.0112 and $0.0290 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
RDTUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Saturday, May 11, 2024, and so far it has risen 9.30%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ridotto 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 $0.0309 and $0.0338. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Ridotto USD cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0289 and $0.0284. 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, Ridotto USD finds support just below today's level at $0.0289. If this is broken, then the next support from accumulated volume will be at $0.0284 and $0.0267.
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 $0.000073 between high and low, or 0.237%. For the last week the cryptocurrency has had daily average volatility of 0.85%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RDTUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect Ridotto USD to open at $0.0308, and during the day (based on 14 day Average True Range), to move between $0.0289 and $0.0327, which gives a possible trading interval of +/-$0.0019 (+/-6.17%) up or down from last closing price. If Ridotto USD takes out the full calculated possible swing range there will be an estimated 12.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0289 (6.27%) than the resistance at $0.0365 (18.63%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ridotto USD cryptocurrency A Buy?
Ridotto USD holds several negative signals and is within a very wide and falling trend, so we believe 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: -1.708 Sell Candidate Downgraded
Predicted Opening Price for Ridotto USD of Sunday, May 19, 2024
| Fair opening price May 19, 2024 | Current price |
|---|---|
| $0.0308 ( 0.0141%) | $0.0308 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RDTUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0309 | 0.251 % | |
| R2 | 0.0308 | 0.161 % | ||
| R1 | 0.0308 | 0.105 % | ||
| Current price: | 0.0308 | |||
| Support | S1 | 0.0308 | -0.0765 % | |
| S2 | 0.0308 | -0.132 % | ||
| S3 | 0.0307 | -0.223 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0378 | 22.69 % | |
| R2 | 0.0378 | 22.68 % | ||
| R1 | 0.0365 | 18.63 % | ||
| Current price | 0.0308 | |||
| Support | S1 | 0.0289 | -6.27% | |
| S2 | 0.0284 | -7.69% | ||
| S3 | 0.0267 | -13.40% |
FAQ
Click here for our free guide on how to buy Ridotto USD Cryptocurrency.
