Chromia / 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
Chromia / US Dollar cryptocurrency price ended at $0.224 on Friday, after losing 3.86%.
(Updated on Jun 28, 2024)
The Chromia / US Dollar cryptocurrency price fell by -3.86% on the last day (Friday, 28th Jun 2024) from $0.233 to $0.224. During the last trading day the cryptocurrency fluctuated 7.09% from a day low at $0.224 to a day high of $0.240. The price has been going up and down for this period, and there has been a -3.86% loss for the last 2 weeks. Volume has increased on the last day by 1 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, 8 million shares were bought and sold for approximately $1.86 million.
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 -30.83% during the next 3 months and, with a 90% probability hold a price between $0.130 and $0.218 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CHRUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 9.47%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Chromia / 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 $0.224 and $0.290. A break-up above any of these levels will issue buy signals. 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.
Support, Risk & Stop-loss for Chromia / US Dollar cryptocurrency
Chromia / US Dollar finds support from accumulated volume at $0.221 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 $0.0159 between high and low, or 7.09%. For the last week, the cryptocurrency has had daily average volatility of 6.88%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CHRUSD) For The Upcoming Trading Day Of Saturday 29th
For the upcoming trading day on Saturday, 29th we expect Chromia / US Dollar to open at $0.230, and during the day (based on 14 day Average True Range), to move between $0.203 and $0.245, which gives a possible trading interval of +/-$0.0213 (+/-9.49%) up or down from last closing price. If Chromia / US Dollar takes out the full calculated possible swing range there will be an estimated 18.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.221 (1.43%) than the resistance at $0.233 (4.01%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chromia / US Dollar cryptocurrency A Buy?
Chromia / 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.
Current score: -3.619 Sell Candidate Unchanged
Predicted Opening Price for Chromia / US Dollar of Saturday, June 29, 2024
| Fair opening price June 29, 2024 | Current price |
|---|---|
| $0.230 ( 2.36%) | $0.224 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHRUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.245 | 9.46% |
| R2 | 0.239 | 6.75% |
| R1 | 0.236 | 5.07% |
| Price | 0.224 | |
| S1 | 0.223 | -0.345% |
| S2 | 0.220 | -2.02% |
| S3 | 0.214 | -4.73% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.274 | 22.33% |
| R2 | 0.264 | 17.93% |
| R1 | 0.233 | 4.01% |
| Price | 0.224 | |
| S1 | 0.221 | -1.43% |
| S2 | 0.205 | -8.65% |
| S3 | 0 | - |
FAQ
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