Celsius / 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
High volatility in Celsius / US Dollar cryptocurrency price on Sunday which ended trading at $0.485
(Updated on May 05, 2024)
The Celsius / US Dollar cryptocurrency price gained 70.32% on the last trading day (Sunday, 5th May 2024), rising from $0.285 to $0.485. During the last trading day the cryptocurrency fluctuated 64.81% from a day low at $0.301 to a day high of $0.497. The price has been going up and down for this period, and there has been a 198.24% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 43 million more shares were traded than the day before. In total, 52 million shares were bought and sold for approximately $25.18 million.
The cryptocurrencyhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.372, a level that may pose a second chance to hit a runner. According to fan-theory $0.613 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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CELUSD Signals & Forecast
The Celsius / US Dollar cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.252 and $0.201. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 268.16%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Celsius / US Dollar cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.376. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the cryptocurrency price.
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 $0.195 between high and low, or 64.81%. For the last week, the cryptocurrency has had daily average volatility of 64.10%.
The Celsius / US Dollar cryptocurrency is extremely overbought on RSI14 (84). Normally this may pose a good selling opportunity but since the cryptocurrency has broken the trend up, the chance for a major correction due to high RSI is very small as the cryptocurrency will find support at the trend broken.
Our recommended stop-loss: $0.469 (-3.32%) (This cryptocurrency has very high daily movements and this gives very high risk. The RSI14 is 84 and this increases the risk substantially. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (CELUSD) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Celsius / US Dollar to open at $0.428, and during the day (based on 14 day Average True Range), to move between $0.433 and $0.537, which gives a possible trading interval of +/-$0.0521 (+/-10.75%) up or down from last closing price. If Celsius / US Dollar takes out the full calculated possible swing range there will be an estimated 21.49% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.376, some $0.109 (22.54%) from the current price of $0.485, our system finds the risk reward attractive.
Is Celsius / US Dollar cryptocurrency A Buy?
Celsius / 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. 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 Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Celsius / US Dollar of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.428 ( 11.86%) | $0.485 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CELUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.623 | 28.38 % | |
| R2 | 0.548 | 13.01 % | ||
| R1 | 0.502 | 3.51 % | ||
| Current price: | 0.485 | |||
| Support | S1 | 0.353 | -27.23 % | |
| S2 | 0.307 | -36.73 % | ||
| S3 | 0.232 | -52.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.485 | |||
| Support | S1 | 0.376 | -22.54% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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