Celer Network / US Dollar 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
Celer Network / US Dollar cryptocurrency downgraded to Strong Sell Candidate
(Updated on Jun 10, 2024)
The Celer Network / US Dollar cryptocurrency price fell by -2.56% on the last day (Monday, 10th Jun 2024) from $0.0211 to $0.0206. During the last trading day the cryptocurrency fluctuated 4.55% from a day low at $0.0202 to a day high of $0.0211. The price has fallen in 7 of the last 10 days and is down by -18.2% for this period. 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 -10 thousand shares and in total, 4 million shares were bought and sold for approximately $73.19 thousand.
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 -26.02% during the next 3 months and, with a 90% probability hold a price between $0.0133 and $0.0213 at the end of this 3-month period.
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CELRUSD Signals & Forecast
There are few to no technical positive signals at the moment. The Celer Network / 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 $0.0228 and $0.0255. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -26.81%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Celer Network / US Dollar cryptocurrency
There is no support from accumulated volume below today's level and given the right condition the cryptocurrency may perform very badly in the next couple of days.
This cryptocurrency may move much during the day (volatility) and with periodic low trading volume this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0009 between high and low, or 4.55%. For the last week the cryptocurrency has had daily average volatility of 8.65%.
Celer Network / US Dollar is oversold on RSI14 (16). Some cryptocurrencies may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CELRUSD) For The Upcoming Trading Day Of Tuesday 11th
For the upcoming trading day on Tuesday, 11th we expect Celer Network / US Dollar to open at $0.0206, and during the day (based on 14 day Average True Range), to move between $0.0191 and $0.0220, which gives a possible trading interval of +/-$0.0014 (+/-6.88%) up or down from last closing price. If Celer Network / US Dollar takes out the full calculated possible swing range there will be an estimated 13.75% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.0224, some $0.0018 (8.71%) from the current price of $0.0206, our system finds the risk reward not very attractive.
Is Celer Network / US Dollar cryptocurrency A Buy?
Celer Network / US Dollar holds several negative signals and is within a very wide and falling trend, so we believe 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 Sell to a Strong Sell candidate.
Current score: -5.531 Strong Sell Candidate Downgraded
Predicted Opening Price for Celer Network / US Dollar of Tuesday, June 11, 2024
| Fair opening price June 11, 2024 | Current price |
|---|---|
| $0.0206 ( 0.389%) | $0.0206 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CELRUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0216 | 4.86% |
| R2 | 0.0212 | 3.15% |
| R1 | 0.0210 | 2.10% |
| Price | 0.0206 | |
| S1 | 0.0203 | -1.32% |
| S2 | 0.0201 | -2.38% |
| S3 | 0.0197 | -4.09% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0252 | 22.57% |
| R2 | 0.0243 | 18.19% |
| R1 | 0.0224 | 8.71% |
| Price | 0.0206 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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