Huobi Token / 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
Weaker technical forecast for Huobi Token / US Dollar as cryptocurrency downgraded to Sell Candidate.
(Updated on May 12, 2024)
The Huobi Token / US Dollar cryptocurrency price fell by -2.16% on the last day (Sunday, 12th May 2024) from $0.611 to $0.598. It has now fallen 3 days in a row. During the last trading day the cryptocurrency fluctuated 4.13% from a day low at $0.589 to a day high of $0.613. The price has fallen in 6 of the last 10 days but is still up by 0.46% 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 -60 thousand shares and in total, 182 thousand shares were bought and sold for approximately $108.75 thousand.
The cryptocurrency lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.618 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the cryptocurrency is expected to fall -56.73% during the next 3 months and, with a 90% probability hold a price between $0.171 and $0.267 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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HTUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. The Huobi Token / US Dollar 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 $0.604 and $0.617. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this cryptocurrency may have low liquidity in periods, which increases the general risk. A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 5.06%. 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).
Support, Risk & Stop-loss for Huobi Token / US Dollar cryptocurrency
Huobi Token / US Dollar finds support from accumulated volume at $0.594 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the cryptocurrency tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the cryptocurrency. During the last day, the cryptocurrency moved $0.0243 between high and low, or 4.13%. For the last week the cryptocurrency has had daily average volatility of 4.93%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HTUSD) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Huobi Token / US Dollar to open at $0.600, and during the day (based on 14 day Average True Range), to move between $0.522 and $0.675, which gives a possible trading interval of +/-$0.0764 (+/-12.78%) up or down from last closing price. If Huobi Token / US Dollar takes out the full calculated possible swing range there will be an estimated 25.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.594 (0.67%) than the resistance at $0.613 (2.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Huobi Token / US Dollar cryptocurrency A Buy?
Huobi Token / US Dollar holds several negative signals and we believe that 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 Sell candidate.
Current score: -2.232 Sell Candidate Downgraded
Predicted Opening Price for Huobi Token / US Dollar of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $0.600 ( 0.323%) | $0.598 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HTUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.624 | 4.39 % | |
| R2 | 0.615 | 2.84 % | ||
| R1 | 0.609 | 1.88 % | ||
| Current price: | 0.598 | |||
| Support | S1 | 0.591 | -1.23 % | |
| S2 | 0.585 | -2.19 % | ||
| S3 | 0.576 | -3.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.736 | 22.99 % | |
| R2 | 0.707 | 18.16 % | ||
| R1 | 0.613 | 2.54 % | ||
| Current price | 0.598 | |||
| Support | S1 | 0.594 | -0.674% | |
| S2 | 0.580 | -3.11% | ||
| S3 | 0.575 | -3.80% |
FAQ
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