Binance USD (BUSD) Forecast Report for the 09.12.2022

The live Binance USD price today is $1.00 with a total trading volume of $6,457,863,347.00. Binance USD is down ,-0.03% in the last 24 hours. The current ranking is #6, with a live market cap of $22,064,361,653.00. It has a circulating supply of 22,058,109,551 BUSD coins. The highest closing price of Binance USD (BUSD) in the current month December was at a price of $1.02 and thus -11.22% under its all-time high of 13.03.2020 at $1.15.

Binance USD (BUSD) current trend & trend change

The current market trend for Binance USD (BUSD) is currently bearish. The last Doji Star indicator for a trend change was on 09.12.2022 and was quoted at a price of $1.00. This indicator could be interpreted for a upwards trend change can be interpreted.

Definition and Interpretation of Trends & Trend Changes

The Doji Star indicates certainty or uncertainty in a trendline, suggesting a possible end to an uptrend or downtrend. However, the Doji Star does not provide a concrete trading signal, but indicates a change in the current trend. With this indicator, bulls and bears are in balance, a possible end of the upward or downward trend is announced. Here, however, this reversal must be reinforced by a confirmation on the third day. This can be done, for example, by a large gap up or down or a higher or lower close.

Binance USD (BUSD) Resistance & Support

The last high from 30.11.2022 at $1.02 was with 0.48% above the resistance of $1.02 and could could be broken through. Support is currently received by the Binance USD (BUSD) price at the $0.990 support line and is holding with 2.88% above this.

Definition and interpretation of resistance & support

Resistance line is the term used in charting to describe a horizontal line at which a price increase has been stopped several times in the past, i.e. at least twice, and is formed by connecting past highs in the chart. The support line is the counterpart of the resistance line and like the latter, a horizontal line in the chart. A support line is formed by connecting those lows in a chart that have the same price value. Therefore, it indicates a value at which a price decline has been stopped several times in the past.

Binance USD (BUSD) Simple Moving Average

The currently quoted Binance USD (BUSD) price is located with $1.00 above the simple moving average and can be considered as bullisch signal. Both an important buy signal and sell signal pattern have been identified.

The buy signal pattern for Binance USD (BUSD) was detected on 06.11.2022 at a price of $1.000 could be determined. The sell signal pattern for Binance USD (BUSD) could be determined on 07.12.2022 at a price of $1.00 could be determined.

Functioning of Simple Moving Average

In a Simple Moving Average, the arithmetic average of the base price in the observation period is calculated. The closing prices in the observation period are added and divided by their number. Each day in the observation period is thus given the same weight, for example, in the case of a 10-day average, each individual day has a weight of 10%, and in the case of a 5-day average, each individual day has a weight of 20%.

Binance USD (BUSD) Exponential Moving Average

The currently quoted Binance USD (BUSD) price is at $1.00 under the exponential moving average and can be considered as bearish signal. Both an important buy signal and sell signal pattern have been identified.

The buy signal pattern for Binance USD (BUSD) was detected on 22.11.2022 at a price of $1.00 could be determined. The sell signal pattern for Binance USD (BUSD) could be determined on 06.12.2022 at a price of $1.00 could be determined.

How Exponential Moving Average Works

The exponential moving average gives more weight to recent prices than to prices further back in time, but the calculation does not refer to a fixed period (of n days), but takes into account all existing data series. This is achieved by subtracting yesterday's exponential moving average from today's closing price and then multiplying this difference by an exponential valuation factor.

Definition and Interpretation of Moving Average.

The moving average is used to show the course of a price over a certain period of time. This allows the average price to be seen at a glance. As the number of n-periods increases, the course of the price is smoothed more and more in order to get a clearer picture and to be able to recognize trends better.

If the price of a cryptocurrency quotes above the selected moving average, then it can be considered a bullish signal. If the price quotes below the moving average, then this is to be understood as a bearish signal. It should always be kept in mind the so-called danger of overheating, which occurs when the prices that are above the moving average line of interest continue to rise. Then it can quickly happen that a reversion to the moving average occurs. A trend reversal with retracements may also be imminent in some cases.

If the moving average describes a descending curve and prices have been above this moving average so far, then selling should be done. In the opposite case, a weak buy signal can be seen. If prices continue to fall below the relevant line, there is a chance of a trend reversal to the upside. Whereby such statements should always be taken with caution and should never be the sole component of a decision-making process.

Concrete buy and sell signals arise when the faster (the one with the shorter period) of the switched on moving averages breaks through the slower moving average from the bottom to the top. A sell signal, on the other hand, occurs when the faster moving average breaks the slower moving average from top to bottom. There are many ways to calculate the moving average, but the most commonly used is the so called Simple Moving Average (SMA).

Binance USD (BUSD) Moving Average Convergence Divergence

The current MACD value of -0.00 can be interpreted as bearish signal The buy signal pattern for Binance USD (BUSD) could be seen on 30.11.2022 with a MACD of 0 could be determined. The sell signal pattern for Binance USD (BUSD) could be determined on 03.12.2022 with a MACD of 0 could be determined.

Definition and Interpretation of Moving Average Convergence Divergence

MACD (Moving Average Convergence Divergence) is a commonly used indicator in market engineering. The MACD visualizes the convergence and divergence of the moving average and belongs to the so-called trend followers. To determine the MACD, two different exponentially weighted moving averages are needed, which are calculated from data series of closing prices. The MACD is the difference between the shorter (faster) average and the longer (slower) average.

A rising MACD indicates an uptrend in a cryptocurrency, while a falling one indicates a downtrend. The greater the distance of the MACD from its zero line, the stronger the trend. When the MACD line crosses the signal line upwards, a buy signal is created. On the other hand, if the MACD crosses the signal line from the top to the bottom, it advises selling.

If the price of a cryptocurrency reaches new highs and these are not confirmed by simultaneous highs in the MACD, this is called a negative divergence. This means that the market saturation of the cryptocurrency is high and selling and a falling price is to be expected soon. Conversely, it is a positive sign when new lows of the cryptocurrency are no longer confirmed by the MACD. This indicates that selling of the corresponding cryptocurrency is on the decline.

Binance USD (BUSD) Time Span

The 24-hour time span analysis helps to identify closing price clusters. Over the last 180 days, the lowest closing prices have been identified at these times.

14:00 - 15:00 Clock, Number of Closing Prices 10

19:00 - 20:00 Clock, Number of Closing Prices 9

01:00 - 02:00 Clock, Number of Closing Prices 7

The highest closing price clusters were identified at these times

19:00 - 20:00 Clock, Number of Closing Prices 7

20:00 - 21:00 Clock, Number of Closing Prices 7

16:00 - 17:00 Clock, Number of Closing Prices 6

28 Days Forecast for Binance USD (BUSD)

Binance USD BUSD

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