RedFOX Labs / US Dollar Cryptocurrency Forecast
Big movements in RedFOX Labs / US Dollar cryptocurrency price on Thursday moving 12.30% between high and low
(Updated on May 30, 2024)
The RedFOX Labs / US Dollar cryptocurrency price gained 0.92% on the last trading day (Thursday, 30th May 2024), rising from $0.0045 to $0.0046. During the last trading day the cryptocurrency fluctuated 12.30% from a day low at $0.0045 to a day high of $0.0051. The price has risen in 5 of the last 10 days and is up by 10.55% over the past 2 weeks. Volume fell on the last day by -226 thousand shares and in total, 110 thousand shares were bought and sold for approximately $506.00 . 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 $0.0021 and $0.0043 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.
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RFOXUSD Signals & Forecast
The RedFOX Labs / US Dollar cryptocurrency holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the cryptocurrency giving a positive forecast for the stock. On further gains, the cryptocurrency will meet resistance from the short-term Moving Average at approximately $0.0052. On a fall, the cryptocurrency will find some support from the long-term average at approximately $0.0043. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 0.92%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 RedFOX Labs / US Dollar cryptocurrency
RedFOX Labs / US Dollar finds support from accumulated volume at $0.0045 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 periodic low trading volume this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0006 between high and low, or 12.30%. For the last week the cryptocurrency has had daily average volatility of 21.55%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RFOXUSD) For The Upcoming Trading Day Of Friday 31st
For the upcoming trading day on Friday, 31st we expect RedFOX Labs / US Dollar to open at $0.0047, and during the day (based on 14 day Average True Range), to move between $0.0040 and $0.0051, which gives a possible trading interval of +/-$0.0005 (+/-11.96%) up or down from last closing price. If RedFOX Labs / US Dollar takes out the full calculated possible swing range there will be an estimated 23.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0045 (0.92%) than the resistance at $0.0054 (17.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is RedFOX Labs / US Dollar cryptocurrency A Buy?
RedFOX Labs / US Dollar 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: -1.061 Sell Candidate Downgraded
Predicted Opening Price for RedFOX Labs / US Dollar of Friday, May 31, 2024
| Fair opening price May 31, 2024 | Current price |
|---|---|
| $0.0047 ( 3.04%) | $0.0046 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RFOXUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0053 | 15.15 % | |
| R2 | 0.0051 | 10.52 % | ||
| R1 | 0.0049 | 7.66 % | ||
| Current price: | 0.0046 | |||
| Support | S1 | 0.0045 | -1.59 % | |
| S2 | 0.0044 | -4.45 % | ||
| S3 | 0.0042 | -9.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0057 | 23.46 % | |
| R2 | 0.0057 | 23.18 % | ||
| R1 | 0.0054 | 17.47 % | ||
| Current price | 0.0046 | |||
| Support | S1 | 0.0045 | -0.92% | |
| S2 | 0.0041 | -10.68% | ||
| S3 | 0.0039 | -14.81% |
FAQ
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