Golem / 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
Red day on Thursday for Golem / US Dollar
(Updated on May 09, 2024)
The Golem / US Dollar cryptocurrency price fell by -0.0184% on the last day (Thursday, 9th May 2024) from $0.545 to $0.545. During the last trading day the cryptocurrency fluctuated 7.76% from a day low at $0.543 to a day high of $0.585. The price has fallen in 6 of the last 10 days but is still up by 2.37% 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 -50 million shares and in total, 9 million shares were bought and sold for approximately $4.92 million.
The cryptocurrency lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to rise 21.85% during the next 3 months and, with a 90% probability hold a price between $0.442 and $1.03 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
GLMUSD Signals & Forecast
The Golem / US Dollar cryptocurrency holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the cryptocurrency giving a positive forecast for the stock. On further gains, the cryptocurrency will meet resistance from the short-term Moving Average at approximately $0.553. On a fall, the cryptocurrency will find some support from the long-term average at approximately $0.470. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Sunday, March 03, 2024, and so far it has fallen -25.56%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Golem / US Dollar cryptocurrency
Golem / US Dollar finds support from accumulated volume at $0.531 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 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 $0.0421 between high and low, or 7.76%. For the last week, the cryptocurrency has had daily average volatility of 13.77%.
Our recommended stop-loss: $0.514 (-5.66%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 67 days ago.)
Trading Expectations (GLMUSD) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Golem / US Dollar to open at $0.557, and during the day (based on 14 day Average True Range), to move between $0.474 and $0.615, which gives a possible trading interval of +/-$0.0703 (+/-12.91%) up or down from last closing price. If Golem / US Dollar takes out the full calculated possible swing range there will be an estimated 25.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.531 (2.44%) than the resistance at $0.576 (5.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Golem / US Dollar cryptocurrency A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Golem / US Dollar cryptocurrency to perform well in the short-term.
Current score: 2.880 Buy Candidate Unchanged
Predicted Opening Price for Golem / US Dollar of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $0.557 ( 2.33%) | $0.545 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLMUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.599 | 10.06 % | |
| R2 | 0.583 | 7.11 % | ||
| R1 | 0.573 | 5.29 % | ||
| Current price: | 0.545 | |||
| Support | S1 | 0.541 | -0.621 % | |
| S2 | 0.531 | -2.45 % | ||
| S3 | 0.515 | -5.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.667 | 22.51 % | |
| R2 | 0.628 | 15.28 % | ||
| R1 | 0.576 | 5.84 % | ||
| Current price | 0.545 | |||
| Support | S1 | 0.531 | -2.44% | |
| S2 | 0.418 | -23.19% | ||
| S3 | 0.409 | -24.99% |
FAQ
Click here for our free guide on how to buy Golem / US Dollar Cryptocurrency.
