Qtum / 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
Big movements in Qtum / US Dollar cryptocurrency price on Tuesday moving 10.14% between high and low
(Updated on Apr 30, 2024)
The Qtum / US Dollar cryptocurrency price gained 0.0085% on the last trading day (Tuesday, 30th Apr 2024), rising from $4.00 to $4.00. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the cryptocurrency fluctuated 10.14% from a day low at $3.82 to a day high of $4.20. The price has risen in 8 of the last 10 days but is still down by -1.77% for this period. Volume fell on the last day by -69 million shares and in total, 5 million shares were bought and sold for approximately $19.84 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the cryptocurrency is expected to rise 27.08% during the next 3 months and, with a 90% probability hold a price between $5.08 and $8.00 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
QTUMUSD Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The cryptocurrency should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Qtum / 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 $4.05 and $4.29. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 05, 2024, and so far it has fallen -26.57%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Qtum / US Dollar cryptocurrency
Qtum / US Dollar finds support from accumulated volume at $4.00 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 $0.387 between high and low, or 10.14%. For the last week, the cryptocurrency has had daily average volatility of 7.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (QTUMUSD) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Qtum / US Dollar to open at $4.01, and during the day (based on 14 day Average True Range), to move between $3.57 and $4.42, which gives a possible trading interval of +/-$0.422 (+/-10.56%) up or down from last closing price. If Qtum / US Dollar takes out the full calculated possible swing range there will be an estimated 21.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.00 (0.01%) than the resistance at $4.15 (3.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Qtum / US Dollar cryptocurrency A Buy?
The Qtum / US Dollar cryptocurrency holds several negative signals and despite the positive trend, we believe Qtum / US Dollar will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency.
Current score: -2.311 Sell Candidate Unchanged
Predicted Opening Price for Qtum / US Dollar of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $4.01 ( 0.225%) | $4.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QTUMUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.39 | 9.91 % | |
| R2 | 4.25 | 6.21 % | ||
| R1 | 4.15 | 3.92 % | ||
| Current price: | 4.00 | |||
| Support | S1 | 3.86 | -3.47 % | |
| S2 | 3.77 | -5.76 % | ||
| S3 | 3.62 | -9.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.90 | 22.64 % | |
| R2 | 4.63 | 15.91 % | ||
| R1 | 4.15 | 3.92 % | ||
| Current price | 4.00 | |||
| Support | S1 | 4.00 | -0.0085% | |
| S2 | 3.78 | -5.54% | ||
| S3 | 3.49 | -12.79% |
FAQ
Click here for our free guide on how to buy Qtum / US Dollar Cryptocurrency.
