RED 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 USD cryptocurrency price took a fall of -10.91% on Friday
(Updated on Jun 28, 2024)
The RED USD cryptocurrency price fell by -10.91% on the last day (Friday, 28th Jun 2024) from $0.0021 to $0.0018. During the last trading day the cryptocurrency fluctuated 6.44% from a day low at $0.0018 to a day high of $0.0020. The price has been going up and down for this period, and there has been a -13.3% loss for the last 2 weeks. 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 -4 thousand shares and in total, 21 thousand shares were bought and sold for approximately $38.09 .
Given the current short-term trend, the cryptocurrency is expected to rise 11.47% during the next 3 months and, with a 90% probability hold a price between $0.0021 and $0.0038 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.
REDUSD Signals & Forecast
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. The RED USD 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 $0.0021 and $0.0022. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -43.11%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this cryptocurrency may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for RED USD cryptocurrency
RED USD finds support from accumulated volume at $0.0018 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, but be aware of low or falling volume as this increases the risk. During the last day, the cryptocurrency moved $0.0001 between high and low, or 6.44%. For the last week the cryptocurrency has had daily average volatility of 8.44%.
Our recommended stop-loss: $0.0017 (-6.28%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 54 days ago.)
Trading Expectations (REDUSD) For The Upcoming Trading Day Of Saturday 29th
For the upcoming trading day on Saturday, 29th we expect RED USD to open at $0.0019, and during the day (based on 14 day Average True Range), to move between $0.0017 and $0.0020, which gives a possible trading interval of +/-$0.0002 (+/-10.17%) up or down from last closing price. If RED USD takes out the full calculated possible swing range there will be an estimated 20.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0018 (1.57%) than the resistance at $0.0020 (10.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is RED USD cryptocurrency A Buy?
RED USD holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.887 Hold/Accumulate Upgraded
Predicted Opening Price for RED USD of Saturday, June 29, 2024
| Fair opening price June 29, 2024 | Current price |
|---|---|
| $0.0019 ( 1.70%) | $0.0018 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for REDUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0020 | 8.09% |
| R2 | 0.0019 | 5.65% |
| R1 | 0.0019 | 4.14% |
| Price | 0.0018 | |
| S1 | 0.0018 | -0.745% |
| S2 | 0.0018 | -2.25% |
| S3 | 0.0018 | -4.70% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0022 | 20.98% |
| R2 | 0.0021 | 11.54% |
| R1 | 0.0020 | 10.68% |
| Price | 0.0018 | |
| S1 | 0.0018 | -1.57% |
| S2 | 0.0018 | -3.52% |
| S3 | 0.0017 | -5.42% |
FAQ
Click here for our free guide on how to buy RED USD Cryptocurrency.
