Unobtanium Cryptocurrency Forecast

High volatility in Unobtanium cryptocurrency price on Tuesday which ended trading at $6.03
(Updated on Jul 02, 2024)

UNOUSD Signals & Forecast

The Unobtanium 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 $2.76 and $2.51. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 294.34%. 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). Unobtanium has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Unobtanium 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 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 $1.27 between high and low, or 22.60%. For the last week, the cryptocurrency has had daily average volatility of 49.69%.

The Unobtanium cryptocurrency is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some cryptocurrencies may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the cryptocurrency manages to break the trend before that occurs.

Our recommended stop-loss: $5.82 (-3.48%) (This cryptocurrency has very high daily movements and this gives very high risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 22 days ago.)

Trading Expectations (UNOUSD) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Unobtanium to open at $6.19, and during the day (based on 14 day Average True Range), to move between $5.36 and $6.71, which gives a possible trading interval of +/-$0.674 (+/-11.16%) up or down from last closing price. If Unobtanium takes out the full calculated possible swing range there will be an estimated 22.33% move between the lowest and the highest trading price during the day.

Is Unobtanium cryptocurrency A Buy?

Unobtanium 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Unobtanium of Wednesday, July 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.