TrueFi / 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
High volatility in TrueFi / US Dollar cryptocurrency price on Wednesday which ended trading at $0.120
(Updated on May 08, 2024)
The TrueFi / US Dollar cryptocurrency price fell by -0.0249% on the last day (Wednesday, 8th May 2024) from $0.121 to $0.120. During the last trading day the cryptocurrency fluctuated 11.87% from a day low at $0.113 to a day high of $0.126. The price has risen in 6 of the last 10 days and is up by 7.81% over the past 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 -5 million shares and in total, 8 million shares were bought and sold for approximately $1.01 million.
The cryptocurrency lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.105 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 63.65% during the next 3 months and, with a 90% probability hold a price between $0.172 and $0.331 at the end of this 3-month period.
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TRUUSD Signals & Forecast
The TrueFi / US Dollar cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the cryptocurrency has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.111 and $0.120. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, March 29, 2024, and so far it has fallen -27.91%. 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.
Support, Risk & Stop-loss for TrueFi / US Dollar cryptocurrency
TrueFi / US Dollar finds support from accumulated volume at $0.117 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 $0.0134 between high and low, or 11.87%. For the last week the cryptocurrency has had daily average volatility of 11.82%.
Our recommended stop-loss: $0.113 (-6.20%) (This cryptocurrency has high daily movements and this gives high risk. There is a sell signal from a pivot top found 40 days ago.)
Trading Expectations (TRUUSD) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect TrueFi / US Dollar to open at $0.120, and during the day (based on 14 day Average True Range), to move between $0.107 and $0.134, which gives a possible trading interval of +/-$0.0139 (+/-11.57%) up or down from last closing price. If TrueFi / US Dollar takes out the full calculated possible swing range there will be an estimated 23.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.121 (0.11%) than the support at $0.117 (3.05%), 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 TrueFi / US Dollar cryptocurrency A Buy?
TrueFi / US Dollar holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.172 Hold/Accumulate Downgraded
Predicted Opening Price for TrueFi / US Dollar of Thursday, May 9, 2024
Fair opening price May 9, 2024 | Current price |
---|---|
$0.120 ( 0.645%) | $0.120 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRUUSD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.133 | 10.45 % | |
R2 | 0.128 | 6.21 % | ||
R1 | 0.125 | 3.59 % | ||
Current price: | 0.120 | |||
Support | S1 | 0.115 | -4.88 % | |
S2 | 0.111 | -7.50 % | ||
S3 | 0.106 | -11.74 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.137 | 14.05 % | |
R2 | 0.132 | 9.40 % | ||
R1 | 0.121 | 0.108 % | ||
Current price | 0.120 | |||
Support | S1 | 0.117 | -3.05% | |
S2 | 0.103 | -14.50% | ||
S3 | 0.103 | -14.52% |
FAQ
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