XDNA / US Dollar Cryptocurrency Forecast
Strong day for XDNA / US Dollar cryptocurrency price on Wednesday rising 7.15% to $0.0013
(Updated on May 15, 2024)
The XDNA / US Dollar cryptocurrency price gained 7.15% on the last trading day (Wednesday, 15th May 2024), rising from $0.0012 to $0.0013. During the last trading day the cryptocurrency fluctuated 8.15% from a day low at $0.0012 to a day high of $0.0013. The price has been going up and down for this period, and there has been a 3.21% gain for the last 2 weeks.
The cryptocurrency lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to rise 4.81% during the next 3 months and, with a 90% probability hold a price between $0.0012 and $0.0016 at the end of this 3-month period.
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XDNAUSD Signals & Forecast
The XDNA / US Dollar cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the cryptocurrency has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0012 and $0.0013. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has risen 7.15%. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Sunday, March 31, 2024 with a target of $0.0014. Despite whether the objective of the signal formation has been reached the cryptocurrency may continue to fall.
Support, Risk & Stop-loss for XDNA / US Dollar cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0011 and $0.0011. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, XDNA / US Dollar finds support just below today's level at $0.0011. If this is broken, then the next support from accumulated volume will be at $0.0011 and $0.0011.
In general the cryptocurrency tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the cryptocurrency During the last day, the cryptocurrency moved $0.0001 between high and low, or 8.15%. For the last week the cryptocurrency has had daily average volatility of 3.73%
Our recommended stop-loss: $0.0013 (-3.04%) (This cryptocurrency has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (XDNAUSD) For The Upcoming Trading Day Of Thursday 16th
For the upcoming trading day on Thursday, 16th we expect XDNA / US Dollar to open at $0.0013, and during the day (based on 14 day Average True Range), to move between $0.0013 and $0.0014, which gives a possible trading interval of +/-$0.00004922 (+/-3.73%) up or down from last closing price. If XDNA / US Dollar takes out the full calculated possible swing range there will be an estimated 7.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0014 (5.38%) than the support at $0.0011 (17.36%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is XDNA / US Dollar cryptocurrency A Buy?
XDNA / 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for XDNA / US Dollar of Thursday, May 16, 2024
| Fair opening price May 16, 2024 | Current price |
|---|---|
| $0.0013 ( 2.12%) | $0.0013 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XDNAUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0014 | 5.46 % | |
| R2 | 0.0014 | 2.56 % | ||
| R1 | 0.0013 | 0.773 % | ||
| Current price: | 0.0013 | |||
| Support | S1 | 0.0013 | -5.02 % | |
| S2 | 0.0012 | -6.81 % | ||
| S3 | 0.0012 | -9.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0014 | 7.43 % | |
| R2 | 0.0014 | 6.07 % | ||
| R1 | 0.0014 | 5.38 % | ||
| Current price | 0.0013 | |||
| Support | S1 | 0.0011 | -17.36% | |
| S2 | 0.0011 | -17.51% | ||
| S3 | 0.0011 | -17.97% |
FAQ
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