Indorse Token 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
Green day on Saturday for Indorse Token USD cryptocurrency after gaining 0.99%
(Updated on Jun 01, 2024)
The Indorse Token USD cryptocurrency price gained 0.99% on the last trading day (Saturday, 1st Jun 2024), rising from $0.0030 to $0.0031. During the last trading day the cryptocurrency fluctuated 0.96% from a day low at $0.0030 to a day high of $0.0031. The price has risen in 6 of the last 10 days and is up by 33.33% over the past 2 weeks.
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 $0.0031 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 -5.33% during the next 3 months and, with a 90% probability hold a price between $0.0011 and $0.0030 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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INDUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. A sell signal was issued from a pivot top point on Monday, May 27, 2024, and so far it has fallen -2.27%. Further fall is indicated until a new bottom pivot has been found. 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. The Indorse Token USD 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 $0.0031. On a fall, the cryptocurrency will find some support from the long-term average at approximately $0.0023. 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).
Support, Risk & Stop-loss for Indorse Token USD cryptocurrency
Indorse Token USD finds support from accumulated volume at $0.0030 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 periodic low trading volume this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.000029 between high and low, or 0.96%. For the last week the cryptocurrency has had daily average volatility of 2.94%.
The Indorse Token USD cryptocurrency is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some cryptocurrencies may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the cryptocurrency manages to break the trend before that occurs.
Our recommended stop-loss: $0.0029 (-4.12%) (This cryptocurrency has very high daily movements and this gives very high risk. The RSI14 is 87 and this increases the risk substantially. There is a sell signal from a pivot top found 50 days ago.)
Trading Expectations (INDUSD) For The Upcoming Trading Day Of Sunday 2nd
For the upcoming trading day on Sunday, 2nd we expect Indorse Token USD to open at $0.0031, and during the day (based on 14 day Average True Range), to move between $0.0029 and $0.0032, which gives a possible trading interval of +/-$0.0001 (+/-3.95%) up or down from last closing price. If Indorse Token USD takes out the full calculated possible swing range there will be an estimated 7.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0031 (0.52%) than the support at $0.0030 (0.59%), 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 Indorse Token USD 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.
Current score: 1.070 Buy Candidate Unchanged
Predicted Opening Price for Indorse Token USD of Sunday, June 2, 2024
| Fair opening price June 2, 2024 | Current price |
|---|---|
| $0.0031 ( 0.229%) | $0.0031 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INDUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0031 | 0.719 % | |
| R2 | 0.0031 | 0.357 % | ||
| R1 | 0.0031 | 0.133 % | ||
| Current price: | 0.0031 | |||
| Support | S1 | 0.0030 | -0.591 % | |
| S2 | 0.0030 | -0.81 % | ||
| S3 | 0.0030 | -1.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0031 | 2.32 % | |
| R2 | 0.0031 | 0.85 % | ||
| R1 | 0.0031 | 0.523 % | ||
| Current price | 0.0031 | |||
| Support | S1 | 0.0030 | -0.588% | |
| S2 | 0.0030 | -0.98% | ||
| S3 | 0.0027 | -12.75% |
FAQ
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