Trace Network Labs 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
Evaluation of Trace Network Labs USD cryptocurrency downgraded after the last trading session.
(Updated on May 26, 2024)
The Trace Network Labs USD cryptocurrency price fell by -3.80% on the last day (Sunday, 26th May 2024) from $0.0038 to $0.0036. During the last trading day the cryptocurrency fluctuated 8.45% from a day low at $0.0036 to a day high of $0.0039. The price has fallen in 6 of the last 10 days and is down by -18.59% 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 -2 thousand shares and in total, 93 thousand shares were bought and sold for approximately $335.40 .
The cryptocurrency lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to fall -57.28% during the next 3 months and, with a 90% probability hold a price between $0.0014 and $0.0019 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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TRACEUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 4.45%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Trace Network Labs 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 $0.0038 and $0.0046. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Trace Network Labs USD cryptocurrency
Trace Network Labs USD finds support from accumulated volume at $0.0035 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 periodic low trading volume this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0003 between high and low, or 8.45%. For the last week the cryptocurrency has had daily average volatility of 9.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TRACEUSD) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect Trace Network Labs USD to open at $0.0037, and during the day (based on 14 day Average True Range), to move between $0.0031 and $0.0041, which gives a possible trading interval of +/-$0.0005 (+/-13.74%) up or down from last closing price. If Trace Network Labs USD takes out the full calculated possible swing range there will be an estimated 27.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0038 (3.95%) than the support at $0.0035 (4.26%), 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 Trace Network Labs USD cryptocurrency A Buy?
Trace Network Labs USD holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this cryptocurrency. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -5.067 Strong Sell Candidate Downgraded
Predicted Opening Price for Trace Network Labs USD of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| $0.0037 ( 1.74%) | $0.0036 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRACEUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0040 | 10.06 % | |
| R2 | 0.0039 | 6.88 % | ||
| R1 | 0.0038 | 4.92 % | ||
| Current price: | 0.0036 | |||
| Support | S1 | 0.0036 | -1.44 % | |
| S2 | 0.0035 | -3.40 % | ||
| S3 | 0.0034 | -6.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0045 | 23.91 % | |
| R2 | 0.0044 | 22.84 % | ||
| R1 | 0.0038 | 3.95 % | ||
| Current price | 0.0036 | |||
| Support | S1 | 0.0035 | -4.26% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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