RED USD Cryptocurrency Forecast
Volatile ride for RED USD cryptocurrency price on Tuesday moving between $0.0021 and $0.0024
(Updated on Jun 25, 2024)
The RED USD cryptocurrency price gained 2.30% on the last trading day (Tuesday, 25th Jun 2024), rising from $0.0021 to $0.0021. During the last trading day the cryptocurrency fluctuated 15.03% from a day low at $0.0021 to a day high of $0.0024. The price has been going up and down for this period, and there has been a -1.48% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 25 thousand shares were bought and sold for approximately $52.93 .
The cryptocurrency lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0019 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 11.20% during the next 3 months and, with a 90% probability hold a price between $0.0021 and $0.0038 at the end of this 3-month period.
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REDUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 2.30%. Further rise is indicated until a new top pivot has been found. RED USD 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. The RED 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 $0.0022 and $0.0023. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for RED USD cryptocurrency
RED USD finds support from accumulated volume at $0.0021 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 $0.0003 between high and low, or 15.03%. For the last week, the cryptocurrency has had daily average volatility of 9.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (REDUSD) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect RED USD to open at $0.0022, and during the day (based on 14 day Average True Range), to move between $0.0020 and $0.0023, which gives a possible trading interval of +/-$0.0002 (+/-8.40%) up or down from last closing price. If RED USD takes out the full calculated possible swing range there will be an estimated 16.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0021 (3.47%) than the resistance at $0.0022 (4.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is RED USD cryptocurrency A Buy?
The RED USD cryptocurrency holds several negative signals and despite the positive trend, we believe RED USD will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency.
Current score: -1.800 Sell Candidate Unchanged
Predicted Opening Price for RED USD of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.0022 ( 3.13%) | $0.0021 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for REDUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0025 | 17.76% |
| R2 | 0.0024 | 12.17% |
| R1 | 0.0023 | 8.72% |
| Price | 0.0021 | |
| S1 | 0.0021 | -2.46% |
| S2 | 0.0020 | -5.92% |
| S3 | 0.0019 | -11.51% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0025 | 15.01% |
| R2 | 0.0023 | 9.10% |
| R1 | 0.0022 | 4.69% |
| Price | 0.0021 | |
| S1 | 0.0021 | -3.47% |
| S2 | 0.0020 | -4.22% |
| S3 | 0.0020 | -8.26% |
FAQ
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