Utrust / US Dollar Cryptocurrency Forecast
Utrust / US Dollar cryptocurrency price down 4.85% on Sunday
(Updated on May 19, 2024)
The Utrust / US Dollar cryptocurrency price fell by -4.85% on the last day (Sunday, 19th May 2024) from $0.0846 to $0.0805. During the last trading day the cryptocurrency fluctuated 5.76% from a day low at $0.0798 to a day high of $0.0844. The price has fallen in 5 of the last 10 days but is still up by 1.9% over the past 2 weeks. Volume has increased on the last day by 2 million 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, 4 million shares were bought and sold for approximately $284.23 thousand.
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 $0.0753 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -14.13% during the next 3 months and, with a 90% probability hold a price between $0.0646 and $0.112 at the end of this 3-month period.
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UTKUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has risen 4.95%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Utrust / US Dollar cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $0.0868. On a fall, the cryptocurrency will find some support from the short-term average at $0.0798. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Utrust / US Dollar 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".
Support, Risk & Stop-loss for Utrust / US Dollar cryptocurrency
Utrust / US Dollar finds support from accumulated volume at $0.0801 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.0046 between high and low, or 5.76%. For the last week, the cryptocurrency has had daily average volatility of 5.30%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UTKUSD) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Utrust / US Dollar to open at $0.0816, and during the day (based on 14 day Average True Range), to move between $0.0745 and $0.0865, which gives a possible trading interval of +/-$0.0060 (+/-7.48%) up or down from last closing price. If Utrust / US Dollar takes out the full calculated possible swing range there will be an estimated 14.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0801 (0.50%) than the resistance at $0.0849 (5.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Utrust / US Dollar cryptocurrency A Buy?
Utrust / US Dollar holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency.
Current score: -3.268 Sell Candidate Unchanged
Predicted Opening Price for Utrust / US Dollar of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0816 ( 1.33%) | $0.0805 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UTKUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0862 | 7.04 % | |
| R2 | 0.0844 | 4.86 % | ||
| R1 | 0.0833 | 3.51 % | ||
| Current price: | 0.0805 | |||
| Support | S1 | 0.0798 | -0.86 % | |
| S2 | 0.0787 | -2.21 % | ||
| S3 | 0.0770 | -4.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.100 | 24.35 % | |
| R2 | 0.0954 | 18.51 % | ||
| R1 | 0.0849 | 5.47 % | ||
| Current price | 0.0805 | |||
| Support | S1 | 0.0801 | -0.497% | |
| S2 | 0.0780 | -3.11% | ||
| S3 | 0.0767 | -4.72% |
FAQ
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