THENODE USD Cryptocurrency Forecast
Weaker technical forecast for THENODE USD as cryptocurrency downgraded to Strong Sell Candidate.
(Updated on Jun 23, 2024)
The THENODE USD cryptocurrency price fell by -2.26% on the last day (Sunday, 23rd Jun 2024) from $0.402 to $0.393. During the last trading day the cryptocurrency fluctuated 3.55% from a day low at $0.392 to a day high of $0.406. The price has fallen in 7 of the last 10 days and is down by -8.56% for this period. Volume has increased on the last day by 86 thousand 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, 334 thousand shares were bought and sold for approximately $131.42 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 -23.74% during the next 3 months and, with a 90% probability hold a price between $0.197 and $0.368 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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THEUSD Signals & Forecast
There are few to no technical positive signals at the moment. The THENODE USD cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.405 and $0.400. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -22.68%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). THENODE 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".
Support, Risk & Stop-loss for THENODE USD cryptocurrency
THENODE USD finds support from accumulated volume at $0.378 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0139 between high and low, or 3.55%. For the last week, the cryptocurrency has had daily average volatility of 3.06%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (THEUSD) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect THENODE USD to open at $0.397, and during the day (based on 14 day Average True Range), to move between $0.374 and $0.412, which gives a possible trading interval of +/-$0.0189 (+/-4.81%) up or down from last closing price. If THENODE USD takes out the full calculated possible swing range there will be an estimated 9.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.378 (3.76%) than the resistance at $0.423 (7.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is THENODE USD cryptocurrency A Buy?
THENODE USD holds several negative signals and is within a very wide and falling trend, so we believe 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 Strong Sell candidate.
Current score: -6.282 Strong Sell Candidate Downgraded
Predicted Opening Price for THENODE USD of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $0.397 ( 0.92%) | $0.393 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for THEUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.411 | 4.45% |
| R2 | 0.405 | 3.10% |
| R1 | 0.402 | 2.27% |
| Price | 0.393 | |
| S1 | 0.391 | -0.433% |
| S2 | 0.388 | -1.27% |
| S3 | 0.383 | -2.62% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.463 | 17.82% |
| R2 | 0.452 | 14.89% |
| R1 | 0.423 | 7.56% |
| Price | 0.393 | |
| S1 | 0.378 | -3.76% |
| S2 | 0.372 | -5.27% |
| S3 | 0.354 | -10.06% |
FAQ
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