Paxos Standard / 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
Stronger technical forecast for Paxos Standard / US Dollar cryptocurrency price after Thursday trading.
(Updated on May 09, 2024)
The Paxos Standard / US Dollar cryptocurrency price fell by -0.0100% on the last day (Thursday, 9th May 2024) from $1.00 to $1.00. During the last trading day the cryptocurrency fluctuated 7.98% from a day low at $1.00 to a day high of $1.08. The price has fallen in 6 of the last 10 days and is down by -0.06% for this period. 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 -920 thousand shares and in total, 5 million shares were bought and sold for approximately $5.22 million.
The cryptocurrencyis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $1.01 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Paxos Standard / US Dollar cryptocurrency with a 90% probability to be traded between $0.94 and $1.02 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and cryptocurrencies seldom manage to go directly from the bottom of a trend up to the top. Cryptocurrencies turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
PAXUSD Signals & Forecast
The Paxos Standard / US Dollar 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 $1.00. On a fall, the cryptocurrency will find some support from the long-term average at approximately $1.00. 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. 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 Friday, May 03, 2024, and so far it has fallen -0.527%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The cryptocurrency had a Golden Star Signal on Monday, March 11, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Monday, March 11, 2024.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the cryptocurrency in question.
Golden Star
The cryptocurrency had a Golden Star Signal on Monday, March 11, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Monday, March 11, 2024.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the cryptocurrency in question.
Golden Star 12 Months
The cryptocurrency had a Golden Star Signal on Monday, March 11, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Monday, March 11, 2024.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the cryptocurrency in question.
Support, Risk & Stop-loss for Paxos Standard / US Dollar cryptocurrency
Paxos Standard / US Dollar finds support from accumulated volume at $1.00 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the cryptocurrency moved $0.0798 between high and low, or 7.98%. For the last week the cryptocurrency has had daily average volatility of 7.98%.
Our recommended stop-loss: $0.94 (-6.26%) (This cryptocurrency has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (PAXUSD) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Paxos Standard / US Dollar to open at $1.03, and during the day (based on 14 day Average True Range), to move between -$8.02 and $10.02, which gives a possible trading interval of +/-$9.02 (+/-902.00%) up or down from last closing price. If Paxos Standard / US Dollar takes out the full calculated possible swing range there will be an estimated 1 803.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.00 (0.09%) than the resistance at $1.00 (0.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Paxos Standard / US Dollar cryptocurrency A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Paxos Standard / US Dollar cryptocurrency to perform well in the short-term period. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.121 Buy Candidate Upgraded
Predicted Opening Price for Paxos Standard / US Dollar of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $1.03 ( 2.65%) | $1.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PAXUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.11 | 10.63 % | |
| R2 | 1.08 | 7.58 % | ||
| R1 | 1.06 | 5.70 % | ||
| Current price: | 1.00 | |||
| Support | S1 | 1.00 | -0.395 % | |
| S2 | 0.98 | -2.28 % | ||
| S3 | 0.95 | -5.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.00 | 0.450 % | |
| R2 | 1.00 | 0.280 % | ||
| R1 | 1.00 | 0.170 % | ||
| Current price | 1.00 | |||
| Support | S1 | 1.00 | -0.0930% | |
| S2 | 0.99 | -1.30% | ||
| S3 | 0.94 | -6.01% |
FAQ
Click here for our free guide on how to buy Paxos Standard / US Dollar Cryptocurrency.
