ONINO 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
Red day on Sunday for ONINO USD cryptocurrency after losing 1.26%
(Updated on May 19, 2024)
The ONINO USD cryptocurrency price fell by -1.26% on the last day (Sunday, 19th May 2024) from $0.266 to $0.263. It has now fallen 3 days in a row. During the last trading day the cryptocurrency fluctuated 3.12% from a day low at $0.262 to a day high of $0.270. The price has risen in 5 of the last 10 days and is up by 20.28% over the past 2 weeks. Volume has increased on the last day by 585 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 34 thousand shares were bought and sold for approximately $8.91 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 $0.268 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 -41.13% during the next 3 months and, with a 90% probability hold a price between $0.0817 and $0.158 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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ONIUSD Signals & Forecast
The ONINO USD cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.262 and $0.240. A breakdown below any of these levels will issue sell signals. 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 Thursday, May 16, 2024, and so far it has fallen -4.19%. Further fall is indicated until a new bottom pivot has been found. ONINO USD gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for ONINO USD cryptocurrency
ONINO USD finds support from accumulated volume at $0.250 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 $0.0082 between high and low, or 3.12%. For the last week, the cryptocurrency has had daily average volatility of 3.31%.
Our recommended stop-loss: $0.251 (-4.27%) (This cryptocurrency has high daily movements and this gives high risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (ONIUSD) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect ONINO USD to open at $0.265, and during the day (based on 14 day Average True Range), to move between $0.242 and $0.283, which gives a possible trading interval of +/-$0.0202 (+/-7.70%) up or down from last closing price. If ONINO USD takes out the full calculated possible swing range there will be an estimated 15.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.250 (4.78%) than the resistance at $0.285 (8.65%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ONINO USD cryptocurrency A Buy?
ONINO 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.
Current score: 0.385 Hold/Accumulate Unchanged
Predicted Opening Price for ONINO USD of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.265 ( 0.90%) | $0.263 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ONIUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.273 | 4.01 % | |
| R2 | 0.270 | 2.82 % | ||
| R1 | 0.268 | 2.09 % | ||
| Current price: | 0.263 | |||
| Support | S1 | 0.262 | -0.291 % | |
| S2 | 0.260 | -1.03 % | ||
| S3 | 0.257 | -2.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.302 | 14.93 % | |
| R2 | 0.288 | 9.84 % | ||
| R1 | 0.285 | 8.65 % | ||
| Current price | 0.263 | |||
| Support | S1 | 0.250 | -4.78% | |
| S2 | 0.219 | -16.62% | ||
| S3 | 0.207 | -21.08% |
FAQ
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