BitDAO is Trading -13.58% Below Our Price Prediction for Feb 24, 2023
Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.
- BitDAO is up 5.98% today against the US Dollar
- BIT/BTC increased by 5.57% today
- BIT/ETH increased by 5.36% today
- BitDAO is currently trading 13.58% below our prediction on Feb 24, 2023
- BitDAO gained 29.69% in the last month and is down -60.16% since 1 year ago
BitDAO price | $ 0.632745 |
BitDAO prediction | $ 0.732197 (15.72%) |
Sentiment | Bullish |
Fear & Greed index | 60 (Greed) |
Key support levels | $ 0.595797, $ 0.591264, $ 0.588564 |
Key resistance levels | $ 0.603029, $ 0.605730, $ 0.610262 |
BIT price is expected to rise by 15.72% in the next 5 days according to our BitDAO price prediction
BitDAO price today is trading at $ 0.632745 after gaining 5.98% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 5.91% in the same time period. BIT performed well against BTC today and recorded a 5.57% gain against the world’s largest cryptocurrency.
According to our BitDAO price prediction, BIT is expected to reach a price of $ 0.732197 by Feb 24, 2023. This would represent a 15.72% price increase for BIT in the next 5 days.
BIT Price Prediction Chart
What has been going on with BitDAO in the last 30 days
BitDAO has been displaying a positive trend recently, as the coin gained 29.69% in the last 30-days. The medium-term trend for BitDAO has been bullish, with BIT increasing by 122.56% in the last 3 months. The long-term picture for BitDAO has been negative, as BIT is currently displaying a -60.16% 1-year price change. On this day last year, BIT was trading at $ 1.59.
BitDAO reached its all-time high price on Nov 12, 2021, when the price of BIT peaked at $ 3.08. The current BIT cycle high is $ 0.632745, while the cycle low is at $ 0.269991. BIT has been displaying low volatility recently – the 1-month volatility of the coin is at 5.72. BitDAO recorded 21 green days in the last 30 days.
BitDAO technical analysis for today - Feb 19, 2023
The sentiment in the BitDAO markets is currently Bullish, and the Fear & Greed index is reading Greed. The most important support levels to watch are $ 0.595797, $ 0.591264 and $ 0.588564, while $ 0.603029, $ 0.605730 and $ 0.610262 are the key resistance levels.
Bullish sentiment for BitDAO
23 indicators are currently signaling a bullish prediction for BitDAO, while 3 indicators are showing a bearish forecast. With 88% of indicators favoring a positive prediction. This results in an overall Bullish sentiment for BitDAO.
Crypto market is currently experiencing Greed
Currently, the Fear & Greed index is at 60 (Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.
BitDAO moving averages & oscillators
Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how BitDAO is positioned in the market right now.
Period | Daily Simple | Daily Exponential | Weekly Simple | Weekly Exponential |
MA3 | $ 0.593728 (BUY) | $ 0.600329 (BUY) | - | - |
MA5 | $ 0.587720 (BUY) | $ 0.594642 (BUY) | - | - |
MA10 | $ 0.577260 (BUY) | $ 0.584780 (BUY) | - | - |
MA21 | $ 0.569427 (BUY) | $ 0.570913 (BUY) | $ 0.422755 (BUY) | $ 0.485855 (BUY) |
MA50 | $ 0.515534 (BUY) | $ 0.519497 (BUY) | $ 0.625460 (BUY) | $ 0.669732 (SELL) |
MA100 | $ 0.407644 (BUY) | $ 0.475030 (BUY) | - | - |
MA200 | $ 0.463076 (BUY) | $ 0.522104 (BUY) | - | - |
Period | Value | Action |
RSI (14) | 64.36 | NEUTRAL |
Stoch RSI (14) | 48.83 | NEUTRAL |
Stochastic Fast (14) | 93.45 | SELL |
Commodity Channel Index (20) | 66.67 | NEUTRAL |
Average Directional Index (14) | 7.24 | NEUTRAL |
Awesome Oscillator (5, 34) | 0.03 | NEUTRAL |
Momentum (10) | 0.01 | NEUTRAL |
MACD (12, 26) | 0.00 | NEUTRAL |
Williams Percent Range (14) | -6.55 | SELL |
Ultimate Oscillator (7, 14, 28) | 56.45 | NEUTRAL |
VWMA (10) | 0.58 | BUY |
Hull Moving Average (9) | 0.58 | BUY |
Ichimoku Cloud B/L (9, 26, 52, 26) | 0.51 | NEUTRAL |
The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for BitDAO is at 64.36, suggesting that BIT is currently neutral.
The 50-day Simple Moving Average (SMA 50) takes into account the closing price of BitDAO over the last 50 days. Currently, BitDAO is trading below the SMA 50 trendline, which is a bearish signal.
Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the BIT closing price for the last 200 days. BIT is now trading below the SMA 200, signaling that the market is currently bearish.
The bottom line about this BitDAO prediction
After considering the above factors, we can conclude that the current forecast for BitDAO price prediction is Bullish. BIT would have to increase by 15.72% to hit our $ 0.732197 target within the next five days. Moving forward, it will be important to monitor the BIT market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term BitDAO price predictions click here.
Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.