MIR COIN / 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
Green day on Thursday for MIR COIN / US Dollar
(Updated on May 02, 2024)
The MIR COIN / US Dollar cryptocurrency price gained 4.44% on the last trading day (Thursday, 2nd May 2024), rising from $0.0450 to $0.0470. During the last trading day the cryptocurrency fluctuated 2.13% from a day low at $0.0470 to a day high of $0.0480. The price has fallen in 7 of the last 10 days and is down by -21.67% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 thousand more shares were traded than the day before. In total, 297 thousand shares were bought and sold for approximately $13.97 thousand.
The cryptocurrency lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0455 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 38.24% during the next 3 months and, with a 90% probability hold a price between $0.0629 and $0.205 at the end of this 3-month period.
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MIRUSD Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). MIR COIN / US Dollar 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 MIR COIN / 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 $0.0501 and $0.0625. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 11, 2024, and so far it has fallen -62.10%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for MIR COIN / US Dollar cryptocurrency
MIR COIN / US Dollar finds support from accumulated volume at $0.0460 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0010 between high and low, or 2.13%. For the last week, the cryptocurrency has had daily average volatility of 10.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MIRUSD) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect MIR COIN / US Dollar to open at $0.0473, and during the day (based on 14 day Average True Range), to move between $0.0400 and $0.0540, which gives a possible trading interval of +/-$0.0070 (+/-14.80%) up or down from last closing price. If MIR COIN / US Dollar takes out the full calculated possible swing range there will be an estimated 29.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0460 (2.13%) than the resistance at $0.0540 (14.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MIR COIN / US Dollar cryptocurrency A Buy?
The MIR COIN / US Dollar cryptocurrency holds several negative signals and despite the positive trend, we believe MIR COIN / US Dollar will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency.
Current score: -4.253 Sell Candidate Unchanged
Predicted Opening Price for MIR COIN / US Dollar of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.0473 ( 0.709%) | $0.0470 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MIRUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0483 | 2.84 % | |
| R2 | 0.0480 | 2.02 % | ||
| R1 | 0.0477 | 1.52 % | ||
| Current price: | 0.0470 | |||
| Support | S1 | 0.0470 | -0.104 % | |
| S2 | 0.0467 | -0.606 % | ||
| S3 | 0.0463 | -1.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0580 | 23.40 % | |
| R2 | 0.0550 | 17.02 % | ||
| R1 | 0.0540 | 14.89 % | ||
| Current price | 0.0470 | |||
| Support | S1 | 0.0460 | -2.13% | |
| S2 | 0.0450 | -4.26% | ||
| S3 | 0 | . |
FAQ
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