IOTA 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
Stronger technical forecast for IOTA USD cryptocurrency price after Friday trading.
(Updated on May 17, 2024)
The IOTA USD cryptocurrency price gained 4.14% on the last trading day (Friday, 17th May 2024), rising from $0.203 to $0.212. During the last trading day the cryptocurrency fluctuated 4.33% from a day low at $0.208 to a day high of $0.217. The price has fallen in 6 of the last 10 days and is down by -7.96% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $789.71 thousand.
The cryptocurrency lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to fall -27.25% during the next 3 months and, with a 90% probability hold a price between $0.103 and $0.238 at the end of this 3-month period.
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IOTAUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. The IOTA USD cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $0.225. On a fall, the cryptocurrency will find some support from the short-term average at $0.208. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, March 14, 2024, and so far it has fallen -49.07%. 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). IOTA USD 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. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for IOTA USD cryptocurrency
IOTA USD finds support from accumulated volume at $0.210 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.0090 between high and low, or 4.33%. For the last week, the cryptocurrency has had daily average volatility of 3.49%.
Our recommended stop-loss: $0.199 (-6.14%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 64 days ago.)
Trading Expectations (IOTAUSD) For The Upcoming Trading Day Of Saturday 18th
For the upcoming trading day on Saturday, 18th we expect IOTA USD to open at $0.212, and during the day (based on 14 day Average True Range), to move between $0.198 and $0.225, which gives a possible trading interval of +/-$0.0139 (+/-6.57%) up or down from last closing price. If IOTA USD takes out the full calculated possible swing range there will be an estimated 13.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.210 (0.52%) than the resistance at $0.228 (7.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is IOTA USD cryptocurrency A Buy?
IOTA USD holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for IOTA USD of Saturday, May 18, 2024
| Fair opening price May 18, 2024 | Current price |
|---|---|
| $0.212 ( 0.315%) | $0.212 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IOTAUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.221 | 4.57 % | |
| R2 | 0.218 | 2.94 % | ||
| R1 | 0.216 | 1.94 % | ||
| Current price: | 0.212 | |||
| Support | S1 | 0.209 | -1.31 % | |
| S2 | 0.207 | -2.31 % | ||
| S3 | 0.203 | -3.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.240 | 13.48 % | |
| R2 | 0.240 | 13.24 % | ||
| R1 | 0.228 | 7.66 % | ||
| Current price | 0.212 | |||
| Support | S1 | 0.210 | -0.520% | |
| S2 | 0.208 | -1.80% | ||
| S3 | 0.203 | -3.97% |
FAQ
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