VeChain / US Dollar Cryptocurrency Forecast
Red day on Saturday for VeChain / US Dollar
(Updated on May 04, 2024)
The VeChain / US Dollar cryptocurrency price fell by -0.0812% on the last day (Saturday, 4th May 2024) from $0.0370 to $0.0369. During the last trading day the cryptocurrency fluctuated 7.59% from a day low at $0.0347 to a day high of $0.0373. The price has been going up and down for this period, and there has been a -12.43% 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 -45 million shares and in total, 9 million shares were bought and sold for approximately $328.65 thousand.
The cryptocurrency is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect VeChain / US Dollar cryptocurrency with a 90% probability to be traded between $0.0287 and $0.0519 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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VETUSD Signals & Forecast
There are few to no technical positive signals at the moment. The VeChain / 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 $0.0372 and $0.0409. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, February 26, 2024, and so far it has fallen -27.32%. 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 $0.0359 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 $0.0026 between high and low, or 7.59%. For the last week the cryptocurrency has had daily average volatility of 8.28%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VETUSD) For The Upcoming Trading Day Of Sunday 5th
For the upcoming trading day on Sunday, 5th we expect VeChain / US Dollar to open at $0.0363, and during the day (based on 14 day Average True Range), to move between $0.0334 and $0.0405, which gives a possible trading interval of +/-$0.0036 (+/-9.66%) up or down from last closing price. If VeChain / US Dollar takes out the full calculated possible swing range there will be an estimated 19.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0359 (2.82%) than the resistance at $0.0396 (7.12%), 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 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.
Current score: -1.916 Sell Candidate Unchanged
Predicted Opening Price for VeChain / US Dollar of Sunday, May 5, 2024
| Fair opening price May 5, 2024 | Current price |
|---|---|
| $0.0363 ( 1.72%) | $0.0369 |
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 | 0.0389 | 5.40 % | |
| R2 | 0.0379 | 2.68 % | ||
| R1 | 0.0373 | 1.00 % | ||
| Current price: | 0.0369 | |||
| Support | S1 | 0.0353 | -4.44 % | |
| S2 | 0.0347 | -6.13 % | ||
| S3 | 0.0337 | -8.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0459 | 24.32 % | |
| R2 | 0.0454 | 23.04 % | ||
| R1 | 0.0396 | 7.12 % | ||
| Current price | 0.0369 | |||
| Support | S1 | 0.0359 | -2.82% | |
| S2 | 0.0345 | -6.61% | ||
| S3 | 0.0327 | -11.59% |
FAQ
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