Firo / US Dollar Cryptocurrency Forecast
Evaluation of Firo / US Dollar cryptocurrency downgraded after the last trading session.
(Updated on May 20, 2024)
The Firo / US Dollar cryptocurrency price fell by -2.78% on the last day (Monday, 20th May 2024) from $1.69 to $1.64. During the last trading day the cryptocurrency fluctuated 6.08% from a day low at $1.63 to a day high of $1.73. The price has risen in 6 of the last 10 days and is up by 4.39% over the past 2 weeks. Volume has increased on the last day by 521 thousand 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, 2 million shares were bought and sold for approximately $3.16 million.
The cryptocurrency lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to fall -18.82% during the next 3 months and, with a 90% probability hold a price between $1.05 and $1.66 at the end of this 3-month period.
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FIROUSD Signals & Forecast
The Firo / US Dollar cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the cryptocurrency has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $1.60 and $1.63. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Sunday, April 14, 2024, and so far it has risen 10.51%. Further rise is indicated until a new top pivot has been found. 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). 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 Firo / US Dollar cryptocurrency
Firo / US Dollar finds support from accumulated volume at $1.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.0990 between high and low, or 6.08%. For the last week, the cryptocurrency has had daily average volatility of 5.03%.
Our recommended stop-loss: $1.59 (-3.04%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 67 days ago.)
Trading Expectations (FIROUSD) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Firo / US Dollar to open at $1.66, and during the day (based on 14 day Average True Range), to move between $1.49 and $1.79, which gives a possible trading interval of +/-$0.153 (+/-9.30%) up or down from last closing price. If Firo / US Dollar takes out the full calculated possible swing range there will be an estimated 18.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.66 (1.10%) than the support at $1.58 (3.66%), 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 Firo / US Dollar cryptocurrency A Buy?
Firo / US Dollar 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.069 Hold/Accumulate Downgraded
Predicted Opening Price for Firo / US Dollar of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $1.66 ( 1.44%) | $1.64 |
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 | 1.76 | 7.48 % | |
| R2 | 1.73 | 5.17 % | ||
| R1 | 1.70 | 3.75 % | ||
| Current price: | 1.64 | |||
| Support | S1 | 1.63 | -0.86 % | |
| S2 | 1.60 | -2.29 % | ||
| S3 | 1.57 | -4.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.00 | 22.12 % | |
| R2 | 1.93 | 17.37 % | ||
| R1 | 1.66 | 1.10 % | ||
| Current price | 1.64 | |||
| Support | S1 | 1.58 | -3.66% | |
| S2 | 1.54 | -6.09% | ||
| S3 | 1.52 | -7.37% |
FAQ
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