Cortex / US Dollar Cryptocurrency Forecast

Big movements in Cortex / US Dollar cryptocurrency price on Wednesday moving 16.30% between high and low
(Updated on May 01, 2024)

CTXCUSD Signals & Forecast

There are mixed signals in the cryptocurrency today. The Cortex / US Dollar cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.314 and $0.365. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Sunday, April 14, 2024, and so far it has risen 7.98%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Cortex / US Dollar cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.269. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the cryptocurrency price.

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 $0.0463 between high and low, or 16.30%. For the last week the cryptocurrency has had daily average volatility of 12.59%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CTXCUSD) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Cortex / US Dollar to open at $0.302, and during the day (based on 14 day Average True Range), to move between $0.252 and $0.329, which gives a possible trading interval of +/-$0.0385 (+/-13.25%) up or down from last closing price. If Cortex / US Dollar takes out the full calculated possible swing range there will be an estimated 26.49% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.303 (4.09%) than the support at $0.269 (7.39%), 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 Cortex / US Dollar cryptocurrency A Buy?

Cortex / US Dollar holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency.

Current score: -3.433 Sell Candidate Unchanged

Predicted Opening Price for Cortex / US Dollar of Thursday, May 2, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.