Firo (FIRO) Price Analysis: Should You Sell?

In focus | Firo Logo Firo $FIRO
Firo (FIRO) Price Analysis: Should You Sell?

In Brief

  • The price of Firo (FIRO) has soared to $1.78, up by 7% in the past 7-days.

  • The whole crypto market is down by -0.7% in comparison.

  • 7 past occurrences of the takuri candle indicator suggest that the Firo price could fall.


Firo has spikes sharply recently, and unfortunately for investors historic price action suggest that the market is heading lower.

Nobody knows exactly what the future will hold, but we can analyze what happened in the past. Stack looked over the past indicators for Firo (FIRO) in similar circumstances to try and calculate where prices might be heading.

Specifically, we explored 7 prior occurrences when the takuri candle was spotted, this is what we found.

Why Firo's Price Could Move Lower

In essence: we have seen this situation play out before, or at least similar situations.

Over 7 past occurrences, Stack found that 100% of the time the price increase by a median -9.95% over the following 30 days.

For example, on November 1st, 2021 we saw this indication and a price move of Firo move by 2%, only to drop by -8.7% over the following 30 days.

Firo chart

The chart above displays the historic occurrences of this indicator with the price.

What does this mean?

It's important to consider that this is just one signal. Many of factors can influence the price.

Crypto prices are influenced by social media, developer activity, the number of exchanges and on-chain activity. Stack considers all these into it's ranking system to make it quick to compare the quality of different cryptos.

{If you believe that other factors, including the broader crypto market, are favorable given the suggested 7-day holding period. Then it could represent a good trade, or a good entry point for longer term investors. We recommend that you do your own research (DYOR) before making any investment decisions. It's critical to consider these other factors

What other factor might be moving $FIRO?

As mentioned above, several factors can influence the price of any investment. Here are some that Stack can help you track.

The broader market's

The crypto market is also down by a median -0.7%. Most cryptos are highly correlated, especially to Bitcoin. So this is likely affecting the price.

Project developments

How active have the devs for Firo been?

During the past 4 weeks there have been 17 commits on Firo's Github account. This compares to an average of 2 commits per week.

Spotting significant changes in developer activity can highlight potential new products being worked on and identify abandoned projects that might be in decline.

Social media

Social media can have a powerful impact on crypto prices. Single tweets can often move markets. It can be hard to judge sentiment just by browsing Twitter, but you can use products like Stack to monitor the growth of a project's followers.

Firo's Twitter followers have risen by -0% over the past 7 days. You can view stats for other networks in the full report for Firo.

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