Wrapped EGLD USD Cryptocurrency Forecast
Green day on Friday for Wrapped EGLD USD cryptocurrency after gaining 4.90%
(Updated on May 03, 2024)
The Wrapped EGLD USD cryptocurrency price gained 4.90% on the last trading day (Friday, 3rd May 2024), rising from $39.62 to $41.57. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the cryptocurrency fluctuated 5.80% from a day low at $39.29 to a day high of $41.57. The price has risen in 6 of the last 10 days but is still down by -6.1% for this period. Volume fell on the last day by -154 thousand shares and in total, 1 million shares were bought and sold for approximately $53.79 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The cryptocurrency lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to fall -25.76% during the next 3 months and, with a 90% probability hold a price between $26.94 and $44.93 at the end of this 3-month period.
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WEGLDUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 12.31%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The cryptocurrency should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Wrapped EGLD USD 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 $46.28. On a fall, the cryptocurrency will find some support from the short-term average at $39.80. 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.
Support, Risk & Stop-loss for Wrapped EGLD USD cryptocurrency
Wrapped EGLD USD finds support from accumulated volume at $40.02 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 $2.28 between high and low, or 5.80%. For the last week, the cryptocurrency has had daily average volatility of 6.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WEGLDUSD) For The Upcoming Trading Day Of Saturday 4th
For the upcoming trading day on Saturday, 4th we expect Wrapped EGLD USD to open at $40.81, and during the day (based on 14 day Average True Range), to move between $38.84 and $44.30, which gives a possible trading interval of +/-$2.73 (+/-6.57%) up or down from last closing price. If Wrapped EGLD USD takes out the full calculated possible swing range there will be an estimated 13.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $40.02 (3.72%) than the resistance at $43.43 (4.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Wrapped EGLD USD cryptocurrency A Buy?
Wrapped EGLD USD 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: -2.477 Sell Candidate Unchanged
Predicted Opening Price for Wrapped EGLD USD of Saturday, May 4, 2024
| Fair opening price May 4, 2024 | Current price |
|---|---|
| $40.81 ( 1.83%) | $41.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WEGLDUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.09 | 3.66 % | |
| R2 | 42.22 | 1.56 % | ||
| R1 | 41.68 | 0.267 % | ||
| Current price: | 41.57 | |||
| Support | S1 | 39.94 | -3.92 % | |
| S2 | 39.40 | -5.22 % | ||
| S3 | 38.53 | -7.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.74 | 24.48 % | |
| R2 | 44.50 | 7.07 % | ||
| R1 | 43.43 | 4.48 % | ||
| Current price | 41.57 | |||
| Support | S1 | 40.02 | -3.72% | |
| S2 | 39.00 | -6.16% | ||
| S3 | 37.05 | -10.86% |
FAQ
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