Firo / US Dollar Cryptocurrency Forecast
Red day on Monday for Firo / US Dollar cryptocurrency after losing 1.15%
(Updated on Apr 29, 2024)
The Firo / US Dollar cryptocurrency price fell by -1.15% on the last day (Monday, 29th Apr 2024) from $1.65 to $1.63. During the last trading day the cryptocurrency fluctuated 5.14% from a day low at $1.62 to a day high of $1.70. The price has risen in 5 of the last 10 days and is up by 1.5% over the past 2 weeks. 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 -368 thousand shares and in total, 543 thousand shares were bought and sold for approximately $883.42 thousand.
The cryptocurrency lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.50 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 4.51% during the next 3 months and, with a 90% probability hold a price between $1.57 and $2.57 at the end of this 3-month period.
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FIROUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. The Firo / US 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 $1.70 and $1.85. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this cryptocurrency may have low liquidity in periods, which increases the general risk. A buy signal was issued from a pivot bottom point on Sunday, April 14, 2024, and so far it has risen 9.56%. 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).
Support, Risk & Stop-loss for Firo / US Dollar cryptocurrency
Firo / US Dollar finds support from accumulated volume at $1.62 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 periodic low trading volume this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0830 between high and low, or 5.14%. For the last week the cryptocurrency has had daily average volatility of 7.02%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FIROUSD) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Firo / US Dollar to open at $1.65, and during the day (based on 14 day Average True Range), to move between $1.46 and $1.79, which gives a possible trading interval of +/-$0.168 (+/-10.31%) up or down from last closing price. If Firo / US Dollar takes out the full calculated possible swing range there will be an estimated 20.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.62 (0.25%) than the resistance at $1.75 (7.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Firo / US Dollar cryptocurrency A Buy?
Firo / US Dollar holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency.
Current score: -2.044 Sell Candidate Unchanged
Predicted Opening Price for Firo / US Dollar of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $1.65 ( 1.21%) | $1.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FIROUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.73 | 6.31 % | |
| R2 | 1.70 | 4.36 % | ||
| R1 | 1.68 | 3.16 % | ||
| Current price: | 1.63 | |||
| Support | S1 | 1.61 | -0.740 % | |
| S2 | 1.60 | -1.94 % | ||
| S3 | 1.56 | -3.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.00 | 23.17 % | |
| R2 | 1.99 | 22.25 % | ||
| R1 | 1.75 | 7.81 % | ||
| Current price | 1.63 | |||
| Support | S1 | 1.62 | -0.246% | |
| S2 | 1.54 | -5.29% | ||
| S3 | 1.49 | -8.73% |
FAQ
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