Rally / US Dollar Cryptocurrency Forecast
Is Rally / US Dollar cryptocurrency still a buy after falling -6.76% on Friday?
(Updated on May 31, 2024)
The Rally / US Dollar cryptocurrency price fell by -6.76% on the last day (Friday, 31st May 2024) from $0.0124 to $0.0116. During the last trading day the cryptocurrency fluctuated 7.40% from a day low at $0.0116 to a day high of $0.0124. The price has been going up and down for this period, and there has been a 15.87% gain for the last 2 weeks. 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 -407 thousand shares and in total, 3 million shares were bought and sold for approximately $37.10 thousand.
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 -21.43% during the next 3 months and, with a 90% probability hold a price between $0.0033 and $0.0163 at the end of this 3-month period.
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RLYUSD Signals & Forecast
The Rally / US Dollar cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0113 and $0.0108. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -52.90%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Rally / US Dollar cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0110 and $0.0102. 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, Rally / US Dollar finds support just below today's level at $0.0110. If this is broken, then the next support from accumulated volume will be at $0.0102 and $0.0098.
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 $0.0009 between high and low, or 7.40%. For the last week the cryptocurrency has had daily average volatility of 10.93%.
Our recommended stop-loss: $0.0109 (-5.76%) (This cryptocurrency has high daily movements and this gives high risk. There is a sell signal from a pivot top found 70 days ago.)
Trading Expectations (RLYUSD) For The Upcoming Trading Day Of Saturday 1st
For the upcoming trading day on Saturday, 1st we expect Rally / US Dollar to open at $0.0119, and during the day (based on 14 day Average True Range), to move between $0.0108 and $0.0124, which gives a possible trading interval of +/-$0.0008 (+/-7.21%) up or down from last closing price. If Rally / US Dollar takes out the full calculated possible swing range there will be an estimated 14.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0120 (3.56%) than the support at $0.0110 (5.26%), 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 Rally / US Dollar cryptocurrency A Buy?
Several short-term signals are positive, despite the cryptocurrency being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for cryptocurrency to perform well in the short-term.
Current score: 1.518 Buy Candidate Unchanged
Predicted Opening Price for Rally / US Dollar of Saturday, June 1, 2024
Fair opening price June 1, 2024 | Current price |
---|---|
$0.0119 ( 2.45%) | $0.0116 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RLYUSD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0127 | 9.85 % | |
R2 | 0.0124 | 7.02 % | ||
R1 | 0.0122 | 5.28 % | ||
Current price: | 0.0116 | |||
Support | S1 | 0.0115 | -0.371 % | |
S2 | 0.0113 | -2.12 % | ||
S3 | 0.0110 | -4.94 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0130 | 12.19 % | |
R2 | 0.0128 | 10.47 % | ||
R1 | 0.0120 | 3.56 % | ||
Current price | 0.0116 | |||
Support | S1 | 0.0110 | -5.26% | |
S2 | 0.0102 | -11.97% | ||
S3 | 0.0098 | -15.42% |
FAQ
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