DigitalCash / 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 DigitalCash / Dollar cryptocurrency price on Tuesday which ended trading at $27.59
(Updated on Apr 30, 2024)
The DigitalCash / Dollar cryptocurrency price fell by -7.73% on the last day (Tuesday, 30th Apr 2024) from $29.90 to $27.59. During the last trading day the cryptocurrency fluctuated 10.12% from a day low at $26.98 to a day high of $29.71. The price has been going up and down for this period, and there has been a -11.77% loss for the last 2 weeks. Volume has increased on the last day by 40 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, 42 million shares were bought and sold for approximately $1.15 billion.
Given the current short-term trend, the cryptocurrency is expected to rise 11.32% during the next 3 months and, with a 90% probability hold a price between $30.71 and $51.16 at the end of this 3-month period.
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DASHUSD Signals & Forecast
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. The DigitalCash / 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 $29.89 and $33.60. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -36.44%. Further fall is indicated until a new bottom pivot has been found. 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 DigitalCash / Dollar cryptocurrency
DigitalCash / Dollar finds support from accumulated volume at $27.51 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $2.73 between high and low, or 10.12%. For the last week, the cryptocurrency has had daily average volatility of 5.09%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DASHUSD) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect DigitalCash / Dollar to open at $28.09, and during the day (based on 14 day Average True Range), to move between $25.13 and $30.05, which gives a possible trading interval of +/-$2.46 (+/-8.92%) up or down from last closing price. If DigitalCash / Dollar takes out the full calculated possible swing range there will be an estimated 17.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $27.51 (0.30%) than the resistance at $29.54 (7.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is DigitalCash / Dollar cryptocurrency A Buy?
The DigitalCash / Dollar cryptocurrency holds several negative signals and despite the positive trend, we believe DigitalCash / Dollar will perform weakly in the next couple of days or weeks. Therefore, we 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 Hold/Accumulate to a Sell candidate.
Current score: -2.563 Sell Candidate Downgraded
Predicted Opening Price for DigitalCash / Dollar of Wednesday, May 1, 2024
Fair opening price May 1, 2024 | Current price |
---|---|
$28.09 ( 1.82%) | $27.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DASHUSD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 30.82 | 11.72 % | |
R2 | 29.78 | 7.94 % | ||
R1 | 29.14 | 5.60 % | ||
Current price: | 27.59 | |||
Support | S1 | 27.05 | -1.96 % | |
S2 | 26.41 | -4.29 % | ||
S3 | 25.36 | -8.07 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 32.09 | 16.31 % | |
R2 | 30.80 | 11.63 % | ||
R1 | 29.54 | 7.07 % | ||
Current price | 27.59 | |||
Support | S1 | 27.51 | -0.301% | |
S2 | 26.94 | -2.36% | ||
S3 | 26.89 | -2.54% |
FAQ
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