CATO USD Cryptocurrency Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Tuesday for CATO USD
(Updated on Jul 02, 2024)
The CATO USD cryptocurrency price fell by -0.298% on the last day (Tuesday, 2nd Jul 2024) from $0.0017 to $0.0017. During the last trading day the cryptocurrency fluctuated 0.299% from a day low at $0.0017 to a day high of $0.0017. The price has fallen in 7 of the last 10 days but is still up by 5.75% over the past 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 -182 shares and in total, 5 shares were bought and sold for approximately $0.0084 .
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 -44.84% during the next 3 months and, with a 90% probability hold a price between $0.0004 and $0.0023 at the end of this 3-month period.
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CATOUSD Signals & Forecast
The CATO USD cryptocurrency holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the cryptocurrency giving a positive forecast for the stock. On further gains, the cryptocurrency will meet resistance from the short-term Moving Average at approximately $0.0017. On a fall, the cryptocurrency will find some support from the long-term average at approximately $0.0017. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 17.39%. 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 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for CATO USD cryptocurrency
CATO USD finds support from accumulated volume at $0.0016 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 $0.000005 between high and low, or 0.299%. For the last week the cryptocurrency has had daily average volatility of 0.419%.
Our recommended stop-loss: $0.0016 (-3.80%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 95 days ago.)
Trading Expectations (CATOUSD) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect CATO USD to open at $0.0017, and during the day (based on 14 day Average True Range), to move between $0.0016 and $0.0018, which gives a possible trading interval of +/-$0.0001 (+/-6.40%) up or down from last closing price. If CATO USD takes out the full calculated possible swing range there will be an estimated 12.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0016 (1.67%) than the resistance at $0.0018 (5.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CATO USD cryptocurrency A Buy?
Several short-term signals are positive, despite the cryptocurrency being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for cryptocurrency to perform well in the short-term.
Current score: 1.275 Buy Candidate Unchanged
Predicted Opening Price for CATO USD of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.0017 ( 0.0996%) | $0.0017 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CATOUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0017 | 0.398% |
| R2 | 0.0017 | 0.284% |
| R1 | 0.0017 | 0.214% |
| Price | 0.0017 | |
| S1 | 0.0017 | -0.0145% |
| S2 | 0.0017 | -0.0850% |
| S3 | 0.0017 | -0.199% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0020 | 16.73% |
| R2 | 0.0018 | 6.99% |
| R1 | 0.0018 | 5.68% |
| Price | 0.0017 | |
| S1 | 0.0016 | -1.67% |
| S2 | 0.0016 | -2.45% |
| S3 | 0.0016 | -6.99% |
FAQ
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