Stafi (FIS) Price Outlook: Should You Sell?

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Stafi (FIS) Price Outlook: Should You Sell?

In Brief

  • The price of Stafi (FIS) has rocketed to $0.36, up by 35% over the past week.

  • In comparison, the whole crypto market is down by -2.0%.

  • 19 past occurrences of the engulfing pattern candle indicator suggest that prices could be headed lower.

Stafi has jumped sharply recently, and unfortunately for investors historic price movements suggest that the market is heading lower.

Of course, we don't have a crystal ball, but we do have lots of data. Stack looked over the previous performance of Stafi (FIS) under similar conditions to try and estimate future price action.

Specifically, we studied 19 prior occurrences where the engulfing pattern candle was detected, this is what we found.

Why Stafi's Price Might Be Moving Move Lower

Multiple setups very similar to this have happened before.

Over 19 past occurrences, we found that 89.47% of the time the price increase by a median -35.35% over the following 60 days.

For example, on October 6th, 2021 we saw the indicator and a price move of Stafi move by 0%, only to then move by -19.8% over the following 60 days.

Stafi chart

The chart above displays the historic episodes when this indicator occurred with the price.

What does this mean?

Investors need to remember that this is just one indicator. Lots 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 crypto projects.

{If you think that other factors, like the global crypto market, are favorable given the suggested 7-day investment horizon. Then it could represent a good trade, or a good entry point for longer term investors. We always suggest you do your own research (DYOR) before making any investment decisions. |It's critical to factor in everything

What else might be moving the price?

Lot's of factors can influence the price of any investment. Here are just a few that could impact the price of Stafi.

The broader crypto market

The broader market is also down by a median -2.0%. Most cryptos are correlated, especially to Bitcoin. So this is likely affecting the price.

It's always worth paying attention to the global macroeconomic environment. As crypto trading becomes more widespread, it is increasingly becoming correlated to equities.

Developer activity

How active have the devs for Stafi been?

Over the past 4 weeks there have been 5 commits on Stafi's Github account. This compares to an average of 2 commits per week.

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

Social activity

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

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

Important Disclaimer: This material is for informational purposes only. None of the material or any material on the website should be interpreted as investment advice. Stack does not make any express or implied warranties, representations or endorsements whatsoever with regard to the material or related information. In particular, you agree that Stack and it's owners assume no warranty for the correctness, accuracy and completeness of the material.