UMA / US Dollar Cryptocurrency Forecast
UMA / US Dollar cryptocurrency upgraded to Sell Candidate.
(Updated on Apr 18, 2024)
The UMA / US Dollar cryptocurrency price fell by -0.0383% on the last day (Thursday, 18th Apr 2024) from $2.61 to $2.61. During the last trading day the cryptocurrency fluctuated 9.00% from a day low at $2.47 to a day high of $2.69. The price has fallen in 6 of the last 10 days and is down by -31.9% 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 -9 million shares and in total, 2 million shares were bought and sold for approximately $4.58 million.
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 $2.37 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -27.89% during the next 3 months and, with a 90% probability hold a price between $1.71 and $3.06 at the end of this 3-month period.
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UMAUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Sunday, April 14, 2024, and so far it has risen 6.78%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The UMA / US Dollar 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 $2.70 and $3.70. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for UMA / US Dollar cryptocurrency
UMA / US Dollar finds support from accumulated volume at $2.59 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 $0.222 between high and low, or 9.00%. For the last week, the cryptocurrency has had daily average volatility of 15.88%.
UMA / US Dollar is oversold on RSI14 (18). 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 (UMAUSD) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect UMA / US Dollar to open at $2.59, and during the day (based on 14 day Average True Range), to move between $2.22 and $3.01, which gives a possible trading interval of +/-$0.394 (+/-15.09%) up or down from last closing price. If UMA / US Dollar takes out the full calculated possible swing range there will be an estimated 30.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.61 (0.04%) than the support at $2.59 (0.92%), 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 UMA / US Dollar cryptocurrency A Buy?
UMA / US Dollar 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. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.174 Sell Candidate Upgraded
Predicted Opening Price for UMA / US Dollar of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $2.59 ( 0.92%) | $2.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UMAUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.81 | 7.58 % | |
| R2 | 2.73 | 4.33 % | ||
| R1 | 2.67 | 2.33 % | ||
| Current price: | 2.61 | |||
| Support | S1 | 2.50 | -4.16 % | |
| S2 | 2.45 | -6.17 % | ||
| S3 | 2.37 | -9.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 2.61 | 0.0383 % | ||
| Current price | 2.61 | |||
| Support | S1 | 2.59 | -0.92% | |
| S2 | 2.52 | -3.60% | ||
| S3 | 2.45 | -6.35% |
FAQ
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