TROY / US Dollar Cryptocurrency Forecast
Green day on Saturday for TROY / US Dollar
(Updated on Jun 01, 2024)
The TROY / US Dollar cryptocurrency price gained 1.02% on the last trading day (Saturday, 1st Jun 2024), rising from $0.0024 to $0.0024. During the last trading day the cryptocurrency fluctuated 3.52% from a day low at $0.0023 to a day high of $0.0024. The price has risen in 5 of the last 10 days but is still down by -4.12% for this period. Volume fell on the last day by -492 thousand shares and in total, 1 million shares were bought and sold for approximately $2.64 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -27.12% during the next 3 months and, with a 90% probability hold a price between $0.0013 and $0.0022 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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TROYUSD Signals & Forecast
The TROY / 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 $0.0023 and $0.0023. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 8.60%. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Friday, April 12, 2024 with a target of $0.0028. Despite whether the objective of the signal formation has been reached the cryptocurrency may continue to fall.
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 $0.000081 between high and low, or 3.52%. For the last week the cryptocurrency has had daily average volatility of 5.14%.
Our recommended stop-loss: $0.0023 (-3.44%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 50 days ago.)
Trading Expectations (TROYUSD) For The Upcoming Trading Day Of Sunday 2nd
For the upcoming trading day on Sunday, 2nd we expect TROY / US Dollar to open at $0.0024, and during the day (based on 14 day Average True Range), to move between $0.0022 and $0.0025, which gives a possible trading interval of +/-$0.0001 (+/-6.18%) up or down from last closing price. If TROY / US Dollar takes out the full calculated possible swing range there will be an estimated 12.36% 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 (1.31%) than the resistance at $0.0024 (2.44%), 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 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.
Current score: 0.688 Hold/Accumulate Unchanged
Predicted Opening Price for TROY / US Dollar of Sunday, June 2, 2024
| Fair opening price June 2, 2024 | Current price |
|---|---|
| $0.0024 ( 0.86%) | $0.0024 |
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 | 2.55 % | |
| R2 | 0.0024 | 1.25 % | ||
| R1 | 0.0024 | 0.447 % | ||
| Current price: | 0.0024 | |||
| Support | S1 | 0.0023 | -2.16 % | |
| S2 | 0.0023 | -2.96 % | ||
| S3 | 0.0023 | -4.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0030 | 24.46 % | |
| R2 | 0.0026 | 11.20 % | ||
| R1 | 0.0024 | 2.44 % | ||
| Current price | 0.0024 | |||
| Support | S1 | 0.0023 | -1.31% | |
| S2 | 0.0023 | -2.44% | ||
| S3 | 0.0023 | -3.03% |
FAQ
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