Compound USD Coin 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:
![Bollinger Bottleneck Buy Pattern 1](https://stockinvest.us/assets/img/legend/boll_tight.gif?v=9c477529db2857fdd0fe37e6230326b11249550d)
![Bollinger Bottleneck Buy Pattern 2](https://stockinvest.us/assets/img/legend/boll_tight2.gif?v=9c477529db2857fdd0fe37e6230326b11249550d)
![Bollinger Bottleneck Sell Pattern](https://stockinvest.us/assets/img/legend/boll_tight3.gif?v=9c477529db2857fdd0fe37e6230326b11249550d)
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
Compound USD Coin cryptocurrency downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Compound USD Coin cryptocurrency price fell by -0.0046% on the last day (Tuesday, 2nd Jul 2024) from $0.0240 to $0.0240. During the last trading day the cryptocurrency fluctuated 0.124% from a day low at $0.0240 to a day high of $0.0240. The price has been going up and down for this period, and there has been a 0.03% gain for the last 2 weeks. Volume has increased on the last day by 89 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, 89 shares were bought and sold for approximately $2.14 .
The cryptocurrencyis at the upper part of a narrow and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $0.0240 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Compound USD Coin cryptocurrency with a 90% probability to be traded between $0.0241 and $0.0243 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and cryptocurrencies seldom manage to go directly from the bottom of a trend up to the top. Cryptocurrencies turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CUSDCUSD Signals & Forecast
The Compound USD Coin 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 $0.0240 and $0.0240. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -0.0353%. Further fall is indicated until a new bottom pivot has been found. Compound USD Coin gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Compound USD Coin cryptocurrency
Compound USD Coin finds support from accumulated volume at $0.0239 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the cryptocurrency tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the cryptocurrency moved $0.00002971 between high and low, or 0.124%. For the last week the cryptocurrency has had daily average volatility of 0.379%.
Our recommended stop-loss: $0.0230 (-3.99%) (This cryptocurrency has low daily movements and this gives low risk. There is a sell signal from a pivot top found 67 days ago.)
Trading Expectations (CUSDCUSD) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Compound USD Coin to open at $0.0240, and during the day (based on 14 day Average True Range), to move between $0.0239 and $0.0241, which gives a possible trading interval of +/-$0.0001 (+/-0.54%) up or down from last closing price. If Compound USD Coin takes out the full calculated possible swing range there will be an estimated 1.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0240 (0.00%) than the support at $0.0239 (0.24%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Compound USD Coin cryptocurrency A Buy?
Compound USD Coin 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 Compound USD Coin of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$0.0240 ( 0.0413%) | $0.0240 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CUSDCUSD
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0240 | 0.165% |
R2 | 0.0240 | 0.118% |
R1 | 0.0240 | 0.0886% |
Price | 0.0240 | |
S1 | 0.0240 | -0.0060% |
S2 | 0.0240 | -0.0352% |
S3 | 0.0240 | -0.0825% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0240 | 0.0323% |
R2 | 0.0240 | 0.0058% |
R1 | 0.0240 | 0.0012% |
Price | 0.0240 | |
S1 | 0.0239 | -0.239% |
S2 | 0.0239 | -0.324% |
S3 | 0.0239 | -0.590% |
FAQ
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