Energy Web Token / 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
Strong day for Energy Web Token / US Dollar cryptocurrency price on Saturday rising 6.24% to $3.55
(Updated on May 18, 2024)
The Energy Web Token / US Dollar cryptocurrency price gained 6.24% on the last trading day (Saturday, 18th May 2024), rising from $3.34 to $3.55. During the last trading day the cryptocurrency fluctuated 6.38% from a day low at $3.36 to a day high of $3.58. The price has fallen in 5 of the last 10 days but is still up by 18.02% 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, 57 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $4.88 million.
The cryptocurrency has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $3.21, a level that may pose a second chance to hit a runner. According to fan-theory $4.29 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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EWTUSD Signals & Forecast
The Energy Web Token / US Dollar 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 $3.23 and $2.68. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 75.94%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Energy Web Token / US Dollar cryptocurrency
Energy Web Token / US Dollar finds support from accumulated volume at $3.51 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 $0.215 between high and low, or 6.38%. For the last week, the cryptocurrency has had daily average volatility of 6.16%.
Our recommended stop-loss: $3.42 (-3.64%) (This cryptocurrency has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (EWTUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect Energy Web Token / US Dollar to open at $3.50, and during the day (based on 14 day Average True Range), to move between $3.29 and $3.81, which gives a possible trading interval of +/-$0.260 (+/-7.33%) up or down from last closing price. If Energy Web Token / US Dollar takes out the full calculated possible swing range there will be an estimated 14.67% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $3.51, some $0.0379 (1.07%) from the current price of $3.55, our system finds the risk reward attractive.
Is Energy Web Token / US Dollar cryptocurrency A Buy?
Several short-term signals are positive and the cryptocurrency has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Energy Web Token / US Dollar cryptocurrency to perform well in the short-term period. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 8.338 Strong Buy Candidate Upgraded
Predicted Opening Price for Energy Web Token / US Dollar of Sunday, May 19, 2024
| Fair opening price May 19, 2024 | Current price |
|---|---|
| $3.50 ( 1.44%) | $3.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EWTUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.71 | 4.61 % | |
| R2 | 3.63 | 2.30 % | ||
| R1 | 3.58 | 0.87 % | ||
| Current price: | 3.55 | |||
| Support | S1 | 3.41 | -3.76 % | |
| S2 | 3.36 | -5.18 % | ||
| S3 | 3.28 | -7.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 3.55 | |||
| Support | S1 | 3.51 | -1.07% | |
| S2 | 3.01 | -15.27% | ||
| S3 | 2.78 | -21.58% |
FAQ
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