Umami Finance USD Cryptocurrency Forecast
A very red day for Umami Finance USD cryptocurrency price after a -7.36% fall in the Tuesday trading session
(Updated on May 14, 2024)
The Umami Finance USD cryptocurrency price fell by -7.36% on the last day (Tuesday, 14th May 2024) from $3.25 to $3.01. It has now fallen 3 days in a row. During the last trading day the cryptocurrency fluctuated 9.34% from a day low at $3.01 to a day high of $3.29. The price has fallen in 7 of the last 10 days and is down by -16.9% for this period. Volume has increased on the last day by 1 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, 3 thousand shares were bought and sold for approximately $7.77 thousand.
The cryptocurrency has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($3.02) are considered to be a "second chance" to get out. According to the fan-theory $1.62 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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UMAMIUSD Signals & Forecast
There are few to no technical positive signals at the moment. The Umami Finance USD cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $3.31 and $3.68. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -31.86%. 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). Umami Finance 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Umami Finance USD cryptocurrency
There is no support from accumulated volume below today's level and given the right condition the cryptocurrency may perform very badly in the next couple of days.
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 $0.281 between high and low, or 9.34%. For the last week, the cryptocurrency has had daily average volatility of 4.32%.
Umami Finance USD is oversold on RSI14 (23). Some cryptocurrencies may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UMAMIUSD) For The Upcoming Trading Day Of Wednesday 15th
For the upcoming trading day on Wednesday, 15th we expect Umami Finance USD to open at $3.10, and during the day (based on 14 day Average True Range), to move between $2.81 and $3.21, which gives a possible trading interval of +/-$0.202 (+/-6.71%) up or down from last closing price. If Umami Finance USD takes out the full calculated possible swing range there will be an estimated 13.42% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $3.34, some $0.329 (10.93%) from the current price of $3.01, our system finds the risk reward not very attractive.
Is Umami Finance USD cryptocurrency A Buy?
Umami Finance 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 Sell to a Strong Sell candidate.
Current score: -8.260 Strong Sell Candidate Downgraded
Predicted Opening Price for Umami Finance USD of Wednesday, May 15, 2024
| Fair opening price May 15, 2024 | Current price |
|---|---|
| $3.10 ( 3.09%) | $3.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UMAMIUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.38 | 12.43 % | |
| R2 | 3.28 | 8.86 % | ||
| R1 | 3.21 | 6.66 % | ||
| Current price: | 3.01 | |||
| Support | S1 | 2.99 | -0.478 % | |
| S2 | 2.93 | -2.68 % | ||
| S3 | 2.82 | -6.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.64 | 20.96 % | |
| R2 | 3.57 | 18.75 % | ||
| R1 | 3.34 | 10.93 % | ||
| Current price | 3.01 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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