Waves / US Dollar Cryptocurrency Forecast
Red day on Thursday for Waves / US Dollar
(Updated on May 09, 2024)
The Waves / US Dollar cryptocurrency price fell by -0.474% on the last day (Thursday, 9th May 2024) from $2.40 to $2.39. It has now fallen 4 days in a row. During the last trading day the cryptocurrency fluctuated 3.06% from a day low at $2.32 to a day high of $2.39. The price has fallen in 6 of the last 10 days and is down by -6.98% for this period. Volume has increased on the last day by 30 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, 32 million shares were bought and sold for approximately $77.10 million.
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 $2.20 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -2.89% during the next 3 months and, with a 90% probability hold a price between $2.13 and $4.07 at the end of this 3-month period.
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WAVESUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 8.40%. 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 Waves / 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 $2.41 and $2.58. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely.
Support, Risk & Stop-loss for Waves / US Dollar cryptocurrency
Waves / US Dollar finds support from accumulated volume at $2.32 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 $0.0711 between high and low, or 3.06%. For the last week, the cryptocurrency has had daily average volatility of 3.40%.
Our recommended stop-loss: $2.32 (-3.06%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (WAVESUSD) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Waves / US Dollar to open at $2.37, and during the day (based on 14 day Average True Range), to move between $2.19 and $2.60, which gives a possible trading interval of +/-$0.207 (+/-8.66%) up or down from last closing price. If Waves / US Dollar takes out the full calculated possible swing range there will be an estimated 17.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.32 (3.04%) than the resistance at $2.52 (5.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Waves / US Dollar cryptocurrency A Buy?
Waves / US Dollar holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.939 Hold/Accumulate Unchanged
Predicted Opening Price for Waves / US Dollar of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $2.37 ( 0.99%) | $2.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WAVESUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.44 | 1.98 % | |
| R2 | 2.41 | 0.85 % | ||
| R1 | 2.40 | 0.145 % | ||
| Current price: | 2.39 | |||
| Support | S1 | 2.34 | -2.13 % | |
| S2 | 2.32 | -2.83 % | ||
| S3 | 2.30 | -3.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.57 | 7.51 % | |
| R2 | 2.57 | 7.22 % | ||
| R1 | 2.52 | 5.38 % | ||
| Current price | 2.39 | |||
| Support | S1 | 2.32 | -3.04% | |
| S2 | 2.25 | -5.99% | ||
| S3 | 2.23 | -6.67% |
FAQ
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