FlypMe 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
A very strong day for FlypMe USD cryptocurrency price on Monday
(Updated on May 20, 2024)
The FlypMe USD cryptocurrency price gained 5.74% on the last trading day (Monday, 20th May 2024), rising from $0.0218 to $0.0230. During the last trading day the cryptocurrency fluctuated 6.01% from a day low at $0.0218 to a day high of $0.0232. The price has risen in 6 of the last 10 days but is still down by -65.25% for this period.
The cryptocurrency lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0222 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 55.41% during the next 3 months and, with a 90% probability hold a price between $0.0345 and $0.157 at the end of this 3-month period.
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FYPUSD Signals & Forecast
There are few to no technical positive signals at the moment. The FlypMe USD 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 $0.0428 and $0.0526. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -68.57%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for FlypMe USD cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0199 and $0.0198. 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, FlypMe USD finds support just below today's level at $0.0199. If this is broken, then the next support from accumulated volume will be at $0.0198 and $0.0194.
This cryptocurrency may move very much during the day (volatility) and with periodic low trading volume this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0013 between high and low, or 6.01%. For the last week the cryptocurrency has had daily average volatility of 48.37%.
FlypMe USD is oversold on RSI14 (14). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FYPUSD) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect FlypMe USD to open at $0.0227, and during the day (based on 14 day Average True Range), to move between $0.0173 and $0.0288, which gives a possible trading interval of +/-$0.0058 (+/-25.07%) up or down from last closing price. If FlypMe USD takes out the full calculated possible swing range there will be an estimated 50.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0199 (13.73%) than the resistance at $0.0275 (19.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is FlypMe USD cryptocurrency A Buy?
The FlypMe USD cryptocurrency holds several negative signals and despite the positive trend, we believe FlypMe USD will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.849 Sell Candidate Upgraded
Predicted Opening Price for FlypMe USD of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $0.0227 ( 1.56%) | $0.0230 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FYPUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0240 | 4.14 % | |
| R2 | 0.0235 | 1.96 % | ||
| R1 | 0.0232 | 0.619 % | ||
| Current price: | 0.0230 | |||
| Support | S1 | 0.0222 | -3.73 % | |
| S2 | 0.0219 | -5.08 % | ||
| S3 | 0.0214 | -7.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0284 | 23.21 % | |
| R2 | 0.0283 | 23.03 % | ||
| R1 | 0.0275 | 19.48 % | ||
| Current price | 0.0230 | |||
| Support | S1 | 0.0199 | -13.73% | |
| S2 | 0.0198 | -14.09% | ||
| S3 | 0.0194 | -15.58% |
FAQ
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