Rowan Token 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
Stronger technical forecast for Rowan Token USD cryptocurrency price after Saturday trading.
(Updated on May 18, 2024)
The Rowan Token USD cryptocurrency price fell by -3.62% on the last day (Saturday, 18th May 2024) from $0.259 to $0.250. During the last trading day the cryptocurrency fluctuated 2.09% from a day low at $0.249 to a day high of $0.254. The price has fallen in 5 of the last 10 days but is still up by 9.3% over the past 2 weeks. Volume has increased on the last day by 117 thousand 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, 749 thousand shares were bought and sold for approximately $187.29 thousand.
The cryptocurrency lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to rise 68.02% during the next 3 months and, with a 90% probability hold a price between $0.352 and $0.561 at the end of this 3-month period.
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RWNUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. A sell signal was issued from a pivot top point on Saturday, March 30, 2024, and so far it has fallen -3.72%. 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). Rowan Token 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 Rowan Token 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 $0.232 and $0.222. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Rowan Token USD cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.237 and $0.229. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, Rowan Token USD finds support just below today's level at $0.237. If this is broken, then the next support from accumulated volume will be at $0.229 and $0.199.
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 $0.0052 between high and low, or 2.09%. For the last week, the cryptocurrency has had daily average volatility of 9.28%.
Our recommended stop-loss: $0.238 (-4.86%) (This cryptocurrency has high daily movements and this gives high risk. There is a sell signal from a pivot top found 49 days ago.)
Trading Expectations (RWNUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect Rowan Token USD to open at $0.251, and during the day (based on 14 day Average True Range), to move between $0.228 and $0.271, which gives a possible trading interval of +/-$0.0214 (+/-8.56%) up or down from last closing price. If Rowan Token USD takes out the full calculated possible swing range there will be an estimated 17.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.255 (1.94%) than the support at $0.237 (5.20%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Rowan Token USD cryptocurrency A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Rowan Token USD cryptocurrency to perform well in the short-term. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.338 Buy Candidate Upgraded
Predicted Opening Price for Rowan Token USD of Sunday, May 19, 2024
| Fair opening price May 19, 2024 | Current price |
|---|---|
| $0.251 ( 0.337%) | $0.250 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RWNUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.256 | 2.41 % | |
| R2 | 0.254 | 1.62 % | ||
| R1 | 0.253 | 1.13 % | ||
| Current price: | 0.250 | |||
| Support | S1 | 0.249 | -0.456 % | |
| S2 | 0.248 | -0.95 % | ||
| S3 | 0.246 | -1.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.260 | 3.87 % | |
| R2 | 0.259 | 3.64 % | ||
| R1 | 0.255 | 1.94 % | ||
| Current price | 0.250 | |||
| Support | S1 | 0.237 | -5.20% | |
| S2 | 0.229 | -8.38% | ||
| S3 | 0.199 | -20.30% |
FAQ
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