VeChain / US Dollar Cryptocurrency Forecast
VeChain / US Dollar cryptocurrency price ended at $0.0422 on Wednesday, after losing 0.0474%.
(Updated on Apr 24, 2024)
The VeChain / US Dollar cryptocurrency price fell by -0.0474% on the last day (Wednesday, 24th Apr 2024) from $0.0422 to $0.0422. During the last trading day the cryptocurrency fluctuated 4.81% from a day low at $0.0414 to a day high of $0.0434. The price has risen in 6 of the last 10 days and is up by 8.27% over the past 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 -58 million shares and in total, 10 million shares were bought and sold for approximately $417.96 thousand.
The cryptocurrency lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0385 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 26.24% during the next 3 months and, with a 90% probability hold a price between $0.0486 and $0.0741 at the end of this 3-month period.
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VETUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. The VeChain / 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 $0.0424. On a fall, the cryptocurrency will find some support from the short-term average at $0.0410. 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. A sell signal was issued from a pivot top point on Monday, February 26, 2024, and so far it has fallen -17.00%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this cryptocurrency may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for VeChain / US Dollar cryptocurrency
VeChain / US Dollar finds support from accumulated volume at $0.0416 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, but be aware of low or falling volume as this increases the risk. During the last day, the cryptocurrency moved $0.0020 between high and low, or 4.81%. For the last week the cryptocurrency has had daily average volatility of 6.46%.
Our recommended stop-loss: $0.0396 (-6.08%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 58 days ago.)
Trading Expectations (VETUSD) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect VeChain / US Dollar to open at $0.0423, and during the day (based on 14 day Average True Range), to move between $0.0380 and $0.0463, which gives a possible trading interval of +/-$0.0042 (+/-9.91%) up or down from last closing price. If VeChain / US Dollar takes out the full calculated possible swing range there will be an estimated 19.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0416 (1.26%) than the resistance at $0.0459 (8.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is VeChain / US Dollar cryptocurrency A Buy?
VeChain / US Dollar 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: -0.537 Hold/Accumulate Unchanged
Predicted Opening Price for VeChain / US Dollar of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.0423 ( 0.372%) | $0.0422 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VETUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0443 | 5.09 % | |
| R2 | 0.0436 | 3.29 % | ||
| R1 | 0.0431 | 2.17 % | ||
| Current price: | 0.0422 | |||
| Support | S1 | 0.0416 | -1.43 % | |
| S2 | 0.0411 | -2.54 % | ||
| S3 | 0.0403 | -4.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0483 | 14.61 % | |
| R2 | 0.0463 | 9.86 % | ||
| R1 | 0.0459 | 8.87 % | ||
| Current price | 0.0422 | |||
| Support | S1 | 0.0416 | -1.26% | |
| S2 | 0.0396 | -6.19% | ||
| S3 | 0.0359 | -14.89% |
FAQ
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