OriginTrail / US Dollar Cryptocurrency Forecast
Red day on Tuesday for OriginTrail / US Dollar
(Updated on Jul 02, 2024)
The OriginTrail / US Dollar cryptocurrency price fell by -0.548% on the last day (Tuesday, 2nd Jul 2024) from $0.80 to $0.798. During the last trading day the cryptocurrency fluctuated 3.99% from a day low at $0.788 to a day high of $0.82. The price has fallen in 6 of the last 10 days but is still up by 20% over the past 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 -1 million shares and in total, 2 million shares were bought and sold for approximately $1.39 million.
The cryptocurrency lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.86 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the cryptocurrency is expected to fall -26.34% during the next 3 months and, with a 90% probability hold a price between $0.386 and $0.633 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
TRACUSD Signals & Forecast
The OriginTrail / US Dollar cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the cryptocurrency has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.764 and $0.775. 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, July 01, 2024, and so far it has fallen -0.548%. 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.
Support, Risk & Stop-loss for OriginTrail / US Dollar cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.754 and $0.739. 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, OriginTrail / US Dollar finds support just below today's level at $0.754. If this is broken, then the next support from accumulated volume will be at $0.739 and $0.665.
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 $0.0314 between high and low, or 3.99%. For the last week the cryptocurrency has had daily average volatility of 4.89%.
Our recommended stop-loss: $0.769 (-3.69%) (This cryptocurrency has high daily movements and this gives high risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (TRACUSD) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect OriginTrail / US Dollar to open at $0.80, and during the day (based on 14 day Average True Range), to move between $0.737 and $0.86, which gives a possible trading interval of +/-$0.0609 (+/-7.64%) up or down from last closing price. If OriginTrail / US Dollar takes out the full calculated possible swing range there will be an estimated 15.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.84 (4.70%) than the support at $0.754 (5.46%), 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 OriginTrail / 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: 2.274 Buy Candidate Unchanged
Predicted Opening Price for OriginTrail / US Dollar of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.80 ( 0.468%) | $0.798 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRACUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.83 | 4.40% |
| R2 | 0.82 | 2.90% |
| R1 | 0.81 | 1.97% |
| Price | 0.798 | |
| S1 | 0.790 | -1.04% |
| S2 | 0.782 | -1.96% |
| S3 | 0.770 | -3.47% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.96 | 20.90% |
| R2 | 0.92 | 15.79% |
| R1 | 0.84 | 4.70% |
| Price | 0.798 | |
| S1 | 0.754 | -5.46% |
| S2 | 0.739 | -7.39% |
| S3 | 0.665 | -16.67% |
FAQ
Click here for our free guide on how to buy OriginTrail / US Dollar Cryptocurrency.
