TROY / US Dollar Cryptocurrency Forecast
TROY / US Dollar cryptocurrency price ended at $0.0023 on Sunday, after losing 0.517%.
(Updated on May 19, 2024)
The TROY / US Dollar cryptocurrency price fell by -0.517% on the last day (Sunday, 19th May 2024) from $0.0023 to $0.0023. During the last trading day the cryptocurrency fluctuated 3.72% from a day low at $0.0023 to a day high of $0.0023. The price has fallen in 5 of the last 10 days and is down by -1.49% for this period. 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 -544 thousand shares and in total, 914 thousand shares were bought and sold for approximately $2.11 thousand.
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0021 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -14.09% during the next 3 months and, with a 90% probability hold a price between $0.0018 and $0.0029 at the end of this 3-month period.
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TROYUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 5.58%. 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. The TROY / US Dollar cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $0.0024. On a fall, the cryptocurrency will find some support from the short-term average at $0.0023. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 TROY / US Dollar cryptocurrency
TROY / US Dollar finds support from accumulated volume at $0.0023 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the cryptocurrency moved $0.000084 between high and low, or 3.72%. For the last week the cryptocurrency has had daily average volatility of 4.52%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TROYUSD) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect TROY / US Dollar to open at $0.0023, and during the day (based on 14 day Average True Range), to move between $0.0021 and $0.0025, which gives a possible trading interval of +/-$0.0002 (+/-7.30%) up or down from last closing price. If TROY / US Dollar takes out the full calculated possible swing range there will be an estimated 14.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0023 (1.00%) than the resistance at $0.0024 (6.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is TROY / US Dollar cryptocurrency A Buy?
TROY / 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.
Current score: -2.523 Sell Candidate Unchanged
Predicted Opening Price for TROY / US Dollar of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0023 ( 0.173%) | $0.0023 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TROYUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0024 | 3.46 % | |
| R2 | 0.0024 | 2.08 % | ||
| R1 | 0.0023 | 1.22 % | ||
| Current price: | 0.0023 | |||
| Support | S1 | 0.0023 | -1.56 % | |
| S2 | 0.0023 | -2.42 % | ||
| S3 | 0.0022 | -3.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0027 | 18.75 % | |
| R2 | 0.0026 | 14.38 % | ||
| R1 | 0.0024 | 6.06 % | ||
| Current price | 0.0023 | |||
| Support | S1 | 0.0023 | -1.00% | |
| S2 | 0.0023 | -2.04% | ||
| S3 | 0.0022 | -3.42% |
FAQ
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