EtherGem USD 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 EtherGem USD cryptocurrency price on Sunday which ended trading at $0.0008
(Updated on May 19, 2024)
The EtherGem USD cryptocurrency price gained 7.47% on the last trading day (Sunday, 19th May 2024), rising from $0.0007 to $0.0008. During the last trading day the cryptocurrency fluctuated 21.50% from a day low at $0.0007 to a day high of $0.0008. The price has risen in 6 of the last 10 days and is up by 81.01% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 48 more shares were traded than the day before. In total, 537 shares were bought and sold for approximately $0.425 .
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 $0.0007, a level that may pose a second chance to hit a runner. According to fan-theory $0.0010 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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EGEMUSD Signals & Forecast
Mostly positive signals in the chart today. The EtherGem USD 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 $0.0006 and $0.0005. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 85.68%. 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). EtherGem USD has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for EtherGem USD cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0007 and $0.0007. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, EtherGem USD finds support just below today's level at $0.0007. If this is broken, then the next support from accumulated volume will be at $0.0007 and $0.0006.
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 $0.0001 between high and low, or 21.50%. For the last week, the cryptocurrency has had daily average volatility of 103.07%.
Our recommended stop-loss: $0.0008 (-3.62%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 55 days ago.)
Trading Expectations (EGEMUSD) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect EtherGem USD to open at $0.0008, and during the day (based on 14 day Average True Range), to move between $0.0006 and $0.0010, which gives a possible trading interval of +/-$0.0002 (+/-21.83%) up or down from last closing price. If EtherGem USD takes out the full calculated possible swing range there will be an estimated 43.66% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.0007, some $0.000055 (6.95%) from the current price of $0.0008, our system finds the risk reward attractive.
Is EtherGem USD cryptocurrency A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
Current score: 3.747 Buy Candidate Unchanged
Predicted Opening Price for EtherGem USD of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0008 ( 4.59%) | $0.0008 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EGEMUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0009 | 13.49 % | |
| R2 | 0.0008 | 6.58 % | ||
| R1 | 0.0008 | 2.31 % | ||
| Current price: | 0.0008 | |||
| Support | S1 | 0.0007 | -11.50 % | |
| S2 | 0.0007 | -15.77 % | ||
| S3 | 0.0006 | -22.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.0008 | |||
| Support | S1 | 0.0007 | -6.95% | |
| S2 | 0.0007 | -15.42% | ||
| S3 | 0.0006 | -20.10% |
FAQ
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