Cortex / US Dollar Cryptocurrency Forecast
Volatile ride for Cortex / US Dollar cryptocurrency price on Tuesday moving between $0.160 and $0.180
(Updated on Jul 02, 2024)
The Cortex / US Dollar cryptocurrency price fell by -11.36% on the last day (Tuesday, 2nd Jul 2024) from $0.182 to $0.161. During the last trading day the cryptocurrency fluctuated 12.31% from a day low at $0.160 to a day high of $0.180. The price has fallen in 7 of the last 10 days and is down by -28.57% for this period. Volume fell on the last day along with the cryptocurrency, which is actually a good sign as volume should follow the cryptocurrency. On the last day, the trading volume fell by -4 million shares and in total, 9 million shares were bought and sold for approximately $1.46 million.
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.140 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -33.82% during the next 3 months and, with a 90% probability hold a price between $0.0925 and $0.191 at the end of this 3-month period.
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CTXCUSD Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $0.209 and $0.265. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -57.65%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Cortex / US Dollar cryptocurrency
There is no support from accumulated volume below today's level and given the right condition the cryptocurrency may perform very badly in the next couple of days.
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 $0.0198 between high and low, or 12.31%. For the last week the cryptocurrency has had daily average volatility of 14.90%.
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 Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Cortex / US Dollar to open at $0.167, and during the day (based on 14 day Average True Range), to move between $0.140 and $0.182, which gives a possible trading interval of +/-$0.0213 (+/-13.22%) up or down from last closing price. If Cortex / US Dollar takes out the full calculated possible swing range there will be an estimated 26.43% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.182, some $0.0207 (12.81%) from the current price of $0.161, our system finds the risk reward not very attractive.
Is Cortex / US Dollar cryptocurrency A Buy?
Cortex / US Dollar holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this cryptocurrency.
Current score: -7.620 Strong Sell Candidate Unchanged
Predicted Opening Price for Cortex / US Dollar of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.167 ( 3.79%) | $0.161 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTXCUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.187 | 16.05% |
| R2 | 0.179 | 11.37% |
| R1 | 0.175 | 8.47% |
| Price | 0.161 | |
| S1 | 0.160 | -0.89% |
| S2 | 0.155 | -3.78% |
| S3 | 0.148 | -8.46% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0.182 | 12.81% |
| Price | 0.161 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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