Ryo Currency USD Cryptocurrency Forecast

Ryo Currency USD cryptocurrency downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)

RYOUSD Signals & Forecast

The Ryo Currency USD 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 $0.0233 and $0.0169. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 113.85%. 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). Ryo Currency 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.

Support, Risk & Stop-loss for Ryo Currency USD cryptocurrency

Ryo Currency USD finds support from accumulated volume at $0.0253 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 $0.0005 between high and low, or 1.88%. For the last week, the cryptocurrency has had daily average volatility of 3.01%.

The Ryo Currency USD cryptocurrency is extremely overbought on RSI14 (98). This increases the short-term risk substantially.

Our recommended stop-loss: $0.0247 (-3.04%) (This cryptocurrency has very high daily movements and this gives very high risk. The RSI14 is 98 and this increases the risk substantially. There is a buy signal from a pivot bottom found 21 days ago.)

Trading Expectations (RYOUSD) For The Upcoming Trading Day Of Saturday 18th

For the upcoming trading day on Saturday, 18th we expect Ryo Currency USD to open at $0.0255, and during the day (based on 14 day Average True Range), to move between $0.0243 and $0.0267, which gives a possible trading interval of +/-$0.0012 (+/-4.79%) up or down from last closing price. If Ryo Currency USD takes out the full calculated possible swing range there will be an estimated 9.58% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0253 (0.83%) than the resistance at $0.0317 (24.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Ryo Currency USD cryptocurrency A Buy?

Ryo Currency USD holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

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 Ryo Currency USD of Saturday, May 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.