Cortex / US Dollar Cryptocurrency Forecast
Red day on Thursday for Cortex / US Dollar
(Updated on May 16, 2024)
No changes to the price of Cortex / US Dollar cryptocurrency on the last trading day (Thursday, 16th May 2024). During the last trading day the cryptocurrency fluctuated 0% from a day low at $0.305 to a day high of $0.305. The price has fallen in 7 of the last 10 days and is down by -15.01% for this period.
The cryptocurrency lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to fall -44.01% during the next 3 months and, with a 90% probability hold a price between $0.0747 and $0.269 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CTXCUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has fallen 0%. 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). 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. On corrections up, there will be some resistance from the lines at $0.328 and $0.323. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Cortex / US Dollar cryptocurrency
Cortex / US Dollar finds support from accumulated volume at $0.303 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the cryptocurrency tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the cryptocurrency During the last day, the cryptocurrency moved $0 between high and low, or 0%. For the last week the cryptocurrency has had daily average volatility of 4.34%
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 Friday 17th
For the upcoming trading day on Friday, 17th we expect Cortex / US Dollar to open at $0.305, and during the day (based on 14 day Average True Range), to move between $0.276 and $0.334, which gives a possible trading interval of +/-$0.0292 (+/-9.56%) up or down from last closing price. If Cortex / US Dollar takes out the full calculated possible swing range there will be an estimated 19.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.303 (0.79%) than the resistance at $0.337 (10.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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: -1.660 Sell Candidate Unchanged
Predicted Opening Price for Cortex / US Dollar of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $0.305 ( 0%) | $0.305 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 0.305 | . | |
| R2 | 0.305 | . | ||
| R1 | 0.305 | . | ||
| Current price: | 0.305 | |||
| Support | S1 | 0.305 | . | |
| S2 | 0.305 | . | ||
| S3 | 0.305 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.381 | 24.71 % | |
| R2 | 0.359 | 17.67 % | ||
| R1 | 0.337 | 10.46 % | ||
| Current price | 0.305 | |||
| Support | S1 | 0.303 | -0.787% | |
| S2 | 0.291 | -4.62% | ||
| S3 | 0.269 | -11.73% |
FAQ
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