GameCredits 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
High volatility in GameCredits cryptocurrency price on Saturday which ended trading at $0.0023
(Updated on May 18, 2024)
The GameCredits cryptocurrency price gained 19.63% on the last trading day (Saturday, 18th May 2024), rising from $0.0019 to $0.0023. During the last trading day the cryptocurrency fluctuated 112.42% from a day low at $0.0018 to a day high of $0.0038. The price has risen in 5 of the last 10 days but is still down by -37.78% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 74 more shares were traded than the day before. In total, 627 shares were bought and sold for approximately $1.43 .
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at -$0.0015 is broken, it will firstly indicate a stronger fall rate. Due to the high volatility and the trend direction we are not able to give forecast range for this stock.
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GAMEUSD Signals & Forecast
GameCredits has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The GameCredits 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 $0.0023 and $0.0035. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Sunday, April 07, 2024, and so far it has fallen -90.69%. 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).
Support, Risk & Stop-loss for GameCredits cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0022 and $0.0019. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0019 may give a huge drop in the cryptocurrency price.
This cryptocurrency may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0020 between high and low, or 112.42%. For the last week, the cryptocurrency has had daily average volatility of 45.09%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GAMEUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect GameCredits to open at $0.0026, and during the day (based on 14 day Average True Range), to move between $0.0003 and $0.0042, which gives a possible trading interval of +/-$0.0020 (+/-85.99%) up or down from last closing price. If GameCredits takes out the full calculated possible swing range there will be an estimated 171.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0023 (0.09%) than the support at $0.0022 (5.35%), 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 GameCredits cryptocurrency A Buy?
GameCredits holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this cryptocurrency. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -6.654 Strong Sell Candidate Downgraded
Predicted Opening Price for GameCredits of Sunday, May 19, 2024
| Fair opening price May 19, 2024 | Current price |
|---|---|
| $0.0026 ( 15.77%) | $0.0023 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GAMEUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0047 | 104.75 % | |
| R2 | 0.0039 | 70.76 % | ||
| R1 | 0.0034 | 49.76 % | ||
| Current price: | 0.0023 | |||
| Support | S1 | 0.0019 | -18.23 % | |
| S2 | 0.0014 | -39.23 % | ||
| S3 | 0.0006 | -73.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0025 | 9.65 % | |
| R2 | 0.0024 | 3.55 % | ||
| R1 | 0.0023 | 0.0878 % | ||
| Current price | 0.0023 | |||
| Support | S1 | 0.0022 | -5.35% | |
| S2 | 0.0019 | -16.41% | ||
| S3 | 0 | . |
FAQ
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