Umami Finance USD Cryptocurrency Forecast
Umami Finance USD cryptocurrency price ended at $4.10 on Tuesday, after gaining 0.375%.
(Updated on May 28, 2024)
The Umami Finance USD cryptocurrency price gained 0.375% on the last trading day (Tuesday, 28th May 2024), rising from $4.08 to $4.10. During the last trading day the cryptocurrency fluctuated 1.83% from a day low at $4.06 to a day high of $4.13. The price has fallen in 5 of the last 10 days but is still up by 15.1% over the past 2 weeks. Volume fell on the last day by -241 shares and in total, 262 shares were bought and sold for approximately $1.07 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 -15.91% during the next 3 months and, with a 90% probability hold a price between $2.42 and $3.71 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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UMAMIUSD Signals & Forecast
The Umami Finance USD 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 $4.04 and $3.69. 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 Tuesday, May 21, 2024, and so far it has fallen -0.668%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Umami Finance USD cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $3.79 and $3.64. 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, Umami Finance USD finds support just below today's level at $3.79. If this is broken, then the next support from accumulated volume will be at $3.64 and $3.34.
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 $0.0744 between high and low, or 1.83%. For the last week the cryptocurrency has had daily average volatility of 1.44%.
Our recommended stop-loss: $3.97 (-3.12%) (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 (UMAMIUSD) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect Umami Finance USD to open at $4.10, and during the day (based on 14 day Average True Range), to move between $3.88 and $4.31, which gives a possible trading interval of +/-$0.216 (+/-5.26%) up or down from last closing price. If Umami Finance USD takes out the full calculated possible swing range there will be an estimated 10.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.24 (3.41%) than the support at $3.79 (7.62%), 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 Umami Finance USD cryptocurrency A Buy?
Umami Finance USD 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: -0.455 Hold/Accumulate Unchanged
Predicted Opening Price for Umami Finance USD of Wednesday, May 29, 2024
| Fair opening price May 29, 2024 | Current price |
|---|---|
| $4.10 ( 0.0278%) | $4.10 |
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 | 4.17 | 1.79 % | |
| R2 | 4.14 | 1.09 % | ||
| R1 | 4.12 | 0.666 % | ||
| Current price: | 4.10 | |||
| Support | S1 | 4.07 | -0.722 % | |
| S2 | 4.05 | -1.15 % | ||
| S3 | 4.02 | -1.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.45 | 8.63 % | |
| R2 | 4.43 | 8.13 % | ||
| R1 | 4.24 | 3.41 % | ||
| Current price | 4.10 | |||
| Support | S1 | 3.79 | -7.62% | |
| S2 | 3.64 | -11.17% | ||
| S3 | 3.34 | -18.53% |
FAQ
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