Firo / 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 Firo / US Dollar cryptocurrency price on Tuesday rising 6.46% to $1.75
(Updated on May 21, 2024)
The Firo / US Dollar cryptocurrency price gained 6.46% on the last trading day (Tuesday, 21st May 2024), rising from $1.64 to $1.75. During the last trading day the cryptocurrency fluctuated 8.64% from a day low at $1.61 to a day high of $1.75. The price has risen in 7 of the last 10 days and is up by 14.86% over the past 2 weeks. Volume fell on the last day by -650 thousand shares and in total, 1 million shares were bought and sold for approximately $2.23 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -19.33% during the next 3 months and, with a 90% probability hold a price between $1.03 and $1.64 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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FIROUSD Signals & Forecast
Mostly positive signals in the chart today. 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 $1.64 and $1.64. 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 17.64%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The cryptocurrency should be watched closely.
Support, Risk & Stop-loss for Firo / US Dollar cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $1.66 and $1.58. 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, Firo / US Dollar finds support just below today's level at $1.66. If this is broken, then the next support from accumulated volume will be at $1.58 and $1.52.
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 $0.139 between high and low, or 8.64%. For the last week, the cryptocurrency has had daily average volatility of 6.76%.
Our recommended stop-loss: $1.69 (-3.42%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 68 days ago.)
Trading Expectations (FIROUSD) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Firo / US Dollar to open at $1.70, and during the day (based on 14 day Average True Range), to move between $1.60 and $1.90, which gives a possible trading interval of +/-$0.152 (+/-8.68%) up or down from last closing price. If Firo / US Dollar takes out the full calculated possible swing range there will be an estimated 17.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.66 (5.04%) than the resistance at $1.93 (10.25%), 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?
Several short-term signals are positive, despite the cryptocurrency being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for cryptocurrency to perform well in the short-term. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.161 Buy Candidate Upgraded
Predicted Opening Price for Firo / US Dollar of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| $1.70 ( 2.65%) | $1.75 |
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 | 1.84 | 5.30 % | |
| R2 | 1.79 | 2.26 % | ||
| R1 | 1.75 | 0.387 % | ||
| Current price: | 1.75 | |||
| Support | S1 | 1.65 | -5.69 % | |
| S2 | 1.61 | -7.57 % | ||
| S3 | 1.56 | -10.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.14 | 22.38 % | |
| R2 | 2.00 | 14.71 % | ||
| R1 | 1.93 | 10.25 % | ||
| Current price | 1.75 | |||
| Support | S1 | 1.66 | -5.04% | |
| S2 | 1.58 | -9.50% | ||
| S3 | 1.52 | -12.99% |
FAQ
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