Dai 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
Dai cryptocurrency upgraded to Hold/Accumulate.
(Updated on May 07, 2024)
The Dai cryptocurrency price fell by -0.0100% on the last day (Tuesday, 7th May 2024) from $1.00 to $1.00. During the last trading day the cryptocurrency fluctuated 2.24% from a day low at $1.00 to a day high of $1.02. The price has fallen in 5 of the last 10 days. 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 -109 million shares and in total, 584 million shares were bought and sold for approximately $583.78 million.
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 $1.00 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Dai cryptocurrency with a 90% probability to be traded between $1.00 and $1.00 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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DAIUSD Signals & Forecast
The Dai 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 $1.00 and $1.00. 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 Thursday, March 21, 2024, and so far it has fallen -0.0640%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The cryptocurrency had a Golden Star Signal on Thursday, April 25, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Sunday, May 05, 2024.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the cryptocurrency in question.
Golden Star
The cryptocurrency had a Golden Star Signal on Thursday, April 25, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Sunday, May 05, 2024.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the cryptocurrency in question.
Golden Star 12 Months
The cryptocurrency had a Golden Star Signal on Thursday, April 25, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Sunday, May 05, 2024.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the cryptocurrency in question.
Support, Risk & Stop-loss for Dai cryptocurrency
Dai finds support from accumulated volume at $1.00 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 $0.0224 between high and low, or 2.24%. For the last week the cryptocurrency has had daily average volatility of 1.42%.
Our recommended stop-loss: $0.96 (-4.23%) (This cryptocurrency has low daily movements and this gives low risk. There is a sell signal from a pivot top found 47 days ago.)
Trading Expectations (DAIUSD) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Dai to open at $1.01, and during the day (based on 14 day Average True Range), to move between $0.98 and $1.01, which gives a possible trading interval of +/-$0.0151 (+/-1.51%) up or down from last closing price. If Dai takes out the full calculated possible swing range there will be an estimated 3.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.00 (0.01%) than the support at $1.00 (0.01%), 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 Dai cryptocurrency A Buy?
Dai 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. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.451 Hold/Accumulate Upgraded
Predicted Opening Price for Dai of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $1.01 ( 0.595%) | $1.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DAIUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.03 | 2.83 % | |
| R2 | 1.02 | 1.98 % | ||
| R1 | 1.01 | 1.45 % | ||
| Current price: | 1.00 | |||
| Support | S1 | 1.00 | -0.259 % | |
| S2 | 0.99 | -0.786 % | ||
| S3 | 0.98 | -1.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.00 | 0.0300 % | |
| R2 | 1.00 | 0.0200 % | ||
| R1 | 1.00 | 0.0100 % | ||
| Current price | 1.00 | |||
| Support | S1 | 1.00 | -0.0100% | |
| S2 | 1.00 | -0.0510% | ||
| S3 | 1.00 | -0.119% |
FAQ
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