Tether Cryptocurrency Forecast
Red day on Tuesday for Tether
(Updated on Jul 02, 2024)
The Tether cryptocurrency price fell by -0.0470% on the last day (Tuesday, 2nd Jul 2024) from $1.00 to $1.00. During the last trading day the cryptocurrency fluctuated 0.102% from a day low at $1.00 to a day high of $1.00. The price has been going up and down for this period, and there has been a -0.12% loss for the last 2 weeks. 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 -8 billion shares and in total, 40 billion shares were bought and sold for approximately $39.79 billion.
The cryptocurrency is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Tether cryptocurrency with a 90% probability to be traded between $1.00 and $1.00 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and cryptocurrencies seldom manage to go directly from the bottom of a trend up to the top. Cryptocurrencies turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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USDTUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 28, 2024, and so far it has risen 0.0511%. 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 Tether 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 $1.00 and $1.00. 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. The cryptocurrency had a Golden Star Signal on Tuesday, April 30, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the cryptocurrency in question.
Golden Star
The cryptocurrency had a Golden Star Signal on Tuesday, April 30, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the cryptocurrency in question.
A buy signal from a double bottom formation was found on Friday, June 28, 2024 and based on theory for this formation the price should go up by 0.280% to $1.00 within 59 trading days since signal was issued (Monday, August 26, 2024).
Support, Risk & Stop-loss for Tether cryptocurrency
Tether finds support from accumulated volume at $1.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the cryptocurrency tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the cryptocurrency moved $0.0010 between high and low, or 0.102%. For the last week the cryptocurrency has had daily average volatility of 0.266%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (USDTUSD) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Tether to open at $1.00, and during the day (based on 14 day Average True Range), to move between $1.00 and $1.00, which gives a possible trading interval of +/-$0.0021 (+/-0.21%) up or down from last closing price. If Tether takes out the full calculated possible swing range there will be an estimated 0.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.00 (0.01%) than the resistance at $1.00 (0.13%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tether cryptocurrency A Buy?
Tether holds several negative signals and is within a narrow 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.
Current score: -3.426 Sell Candidate Unchanged
Predicted Opening Price for Tether of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $1.00 ( 0.0080%) | $1.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for USDTUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.00 | 0.110% |
| R2 | 1.00 | 0.0711% |
| R1 | 1.00 | 0.0470% |
| Price | 1.00 | |
| S1 | 1.00 | -0.0310% |
| S2 | 1.00 | -0.0551% |
| S3 | 1.00 | -0.0941% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.00 | 0.183% |
| R2 | 1.00 | 0.178% |
| R1 | 1.00 | 0.133% |
| Price | 1.00 | |
| S1 | 1.00 | -0.0060% |
| S2 | 1.00 | -0.0100% |
| S3 | 1.00 | -0.0511% |
FAQ
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