IOTA / Dollar Cryptocurrency Forecast
Volatile ride for IOTA / Dollar cryptocurrency price on Wednesday moving between $0.236 and $0.261
(Updated on Apr 24, 2024)
The IOTA / Dollar cryptocurrency price fell by -4.61% on the last day (Wednesday, 24th Apr 2024) from $0.252 to $0.240. During the last trading day the cryptocurrency fluctuated 10.85% from a day low at $0.236 to a day high of $0.261. The price has risen in 6 of the last 10 days and is up by 2.95% over the past 2 weeks. Volume has increased on the last day by 18 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, 42 million shares were bought and sold for approximately $10.00 million.
The cryptocurrency lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.215 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 6.94% during the next 3 months and, with a 90% probability hold a price between $0.230 and $0.452 at the end of this 3-month period.
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MIOTAUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. The IOTA / 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 $0.290. On a fall, the cryptocurrency will find some support from the short-term average at $0.237. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 13.03%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for IOTA / Dollar cryptocurrency
IOTA / Dollar finds support from accumulated volume at $0.233 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0256 between high and low, or 10.85%. For the last week, the cryptocurrency has had daily average volatility of 5.30%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MIOTAUSD) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect IOTA / Dollar to open at $0.246, and during the day (based on 14 day Average True Range), to move between $0.219 and $0.261, which gives a possible trading interval of +/-$0.0212 (+/-8.82%) up or down from last closing price. If IOTA / Dollar takes out the full calculated possible swing range there will be an estimated 17.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.233 (2.87%) than the resistance at $0.251 (4.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is IOTA / Dollar cryptocurrency A Buy?
IOTA / Dollar 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Buy to a Sell candidate.
Current score: -1.093 Sell Candidate Downgraded
Predicted Opening Price for IOTA / Dollar of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.246 ( 2.31%) | $0.240 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MIOTAUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.271 | 12.96 % | |
| R2 | 0.262 | 8.89 % | ||
| R1 | 0.256 | 6.38 % | ||
| Current price: | 0.240 | |||
| Support | S1 | 0.236 | -1.76 % | |
| S2 | 0.230 | -4.27 % | ||
| S3 | 0.220 | -8.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.288 | 19.85 % | |
| R2 | 0.286 | 19.07 % | ||
| R1 | 0.251 | 4.37 % | ||
| Current price | 0.240 | |||
| Support | S1 | 0.233 | -2.87% | |
| S2 | 0.218 | -9.41% | ||
| S3 | 0.218 | -9.46% |
FAQ
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