RChain USD Cryptocurrency Forecast
RChain USD cryptocurrency upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The RChain USD cryptocurrency price fell by -2.13% on the last day (Friday, 28th Jun 2024) from $0.00003896 to $0.00003813. During the last trading day the cryptocurrency fluctuated 2.26% from a day low at $0.0000381 to a day high of $0.00003896. The price has fallen in 5 of the last 10 days and is down by -17.07% for this period. Volume has increased on the last day by 87 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 87 shares were bought and sold for approximately $0.0033 .
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 -32.74% during the next 3 months and, with a 90% probability hold a price between $0.00001568 and $0.00005933 at the end of this 3-month period.
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REVUSD Signals & Forecast
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 RChain 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 $0.00004277 and $0.00005033. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Saturday, June 22, 2024, and so far it has fallen -25.82%. Further fall is indicated until a new bottom pivot has been found. RChain USD gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Tuesday, April 09, 2024 and based on theory for this formation the price should fall by -107.87% to -$0.000003 within 2 trading days since signal was issued (Thursday, April 11, 2024).
Support, Risk & Stop-loss for RChain USD cryptocurrency
RChain USD finds support from accumulated volume at $0.00003727 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.00000086 between high and low, or 2.26%. For the last week, the cryptocurrency has had daily average volatility of 0.558%.
Our recommended stop-loss: $0.00003629 (-4.82%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (REVUSD) For The Upcoming Trading Day Of Saturday 29th
For the upcoming trading day on Saturday, 29th we expect RChain USD to open at $0.00003840, and during the day (based on 14 day Average True Range), to move between $0.00003455 and $0.00004171, which gives a possible trading interval of +/-$0.00000358 (+/-9.40%) up or down from last closing price. If RChain USD takes out the full calculated possible swing range there will be an estimated 18.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.00003896 (2.18%) than the support at $0.00003727 (2.26%), 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 RChain USD cryptocurrency A Buy?
RChain USD holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for RChain USD of Saturday, June 29, 2024
| Fair opening price June 29, 2024 | Current price |
|---|---|
| $0.00003840 ( 0.699%) | $0.00003813 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for REVUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.00003926 | 2.95% |
| R2 | 0.00003893 | 2.09% |
| R1 | 0.00003873 | 1.56% |
| Price | 0.00003813 | |
| S1 | 0.00003807 | -0.162% |
| S2 | 0.00003787 | -0.695% |
| S3 | 0.00003754 | -1.56% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0000472 | 23.79% |
| R2 | 0.0000442 | 15.92% |
| R1 | 0.00003896 | 2.18% |
| Price | 0.00003813 | |
| S1 | 0.00003727 | -2.26% |
| S2 | 0.00003207 | -15.89% |
| S3 | 0.00003118 | -18.23% |
FAQ
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