TrueFi / US Dollar Cryptocurrency Forecast
Evaluation of TrueFi / US Dollar cryptocurrency downgraded after the last trading session.
(Updated on Jul 02, 2024)
The TrueFi / US Dollar cryptocurrency price gained 1.04% on the last trading day (Tuesday, 2nd Jul 2024), rising from $0.135 to $0.136. During the last trading day the cryptocurrency fluctuated 9.16% from a day low at $0.131 to a day high of $0.143. The price has fallen in 7 of the last 10 days and is down by -5.75% for this period. Volume fell on the last day by -2 million shares and in total, 33 million shares were bought and sold for approximately $4.46 million. 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 lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.123 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 31.58% during the next 3 months and, with a 90% probability hold a price between $0.161 and $0.312 at the end of this 3-month period.
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TRUUSD Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The cryptocurrency should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The TrueFi / 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 $0.170. On a fall, the cryptocurrency will find some support from the short-term average at $0.132. 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. A sell signal was issued from a pivot top point on Sunday, June 09, 2024, and so far it has fallen -38.89%. 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).
Support, Risk & Stop-loss for TrueFi / US Dollar cryptocurrency
TrueFi / US Dollar finds support from accumulated volume at $0.135 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 $0.0120 between high and low, or 9.16%. For the last week, the cryptocurrency has had daily average volatility of 8.29%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TRUUSD) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect TrueFi / US Dollar to open at $0.137, and during the day (based on 14 day Average True Range), to move between $0.118 and $0.154, which gives a possible trading interval of +/-$0.0177 (+/-13.00%) up or down from last closing price. If TrueFi / US Dollar takes out the full calculated possible swing range there will be an estimated 26.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.135 (1.03%) than the resistance at $0.144 (6.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is TrueFi / US Dollar cryptocurrency A Buy?
The TrueFi / US Dollar cryptocurrency holds several negative signals and despite the positive trend, we believe TrueFi / US Dollar will perform weakly in the next couple of days or weeks. Therefore, we 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 Sell candidate.
Current score: -1.795 Sell Candidate Downgraded
Predicted Opening Price for TrueFi / US Dollar of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.137 ( 0.441%) | $0.136 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRUUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.149 | 9.26% |
| R2 | 0.144 | 5.89% |
| R1 | 0.141 | 3.81% |
| Price | 0.136 | |
| S1 | 0.132 | -2.93% |
| S2 | 0.129 | -5.01% |
| S3 | 0.125 | -8.38% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.164 | 20.50% |
| R2 | 0.158 | 16.16% |
| R1 | 0.144 | 6.10% |
| Price | 0.136 | |
| S1 | 0.135 | -1.03% |
| S2 | 0.132 | -3.16% |
| S3 | 0.117 | -14.18% |
FAQ
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