Ixcoin Cryptocurrency Forecast

Ixcoin cryptocurrency price up more than 8.13% on Tuesday
(Updated on May 07, 2024)

IXCUSD Signals & Forecast

The Ixcoin cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the cryptocurrency has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0141 and $0.0144. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has risen 8.13%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Friday, March 22, 2024 and based on theory for this formation the price should go up by 18.02% to $0.0171 within 5 trading days since signal was issued (Wednesday, May 08, 2024).

Support, Risk & Stop-loss for Ixcoin cryptocurrency

Ixcoin finds support from accumulated volume at $0.0143 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 $0.0003 between high and low, or 2.36%. For the last week the cryptocurrency has had daily average volatility of 7.02%

Our recommended stop-loss: $0.0140 (-3.46%) (This cryptocurrency has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)

Trading Expectations (IXCUSD) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect Ixcoin to open at $0.0146, and during the day (based on 14 day Average True Range), to move between $0.0122 and $0.0167, which gives a possible trading interval of +/-$0.0023 (+/-15.52%) up or down from last closing price. If Ixcoin takes out the full calculated possible swing range there will be an estimated 31.05% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0143 (1.70%) than the resistance at $0.0152 (5.12%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Ixcoin cryptocurrency A Buy?

Ixcoin holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Ixcoin of Wednesday, May 8, 2024

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