MetaBrands USD Cryptocurrency Forecast

Stronger technical forecast for MetaBrands USD cryptocurrency price after Saturday trading.
(Updated on May 18, 2024)

MAGEUSD Signals & Forecast

The MetaBrands USD cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0213 and $0.0209. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 17.79%. 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. 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. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for MetaBrands USD cryptocurrency

MetaBrands USD finds support from accumulated volume at $0.0214 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This cryptocurrency has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the cryptocurrency moved $0.0002 between high and low, or 0.97%. For the last week the cryptocurrency has had daily average volatility of 3.02%.

Our recommended stop-loss: $0.0210 (-4.71%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 17 days ago.)

Trading Expectations (MAGEUSD) For The Upcoming Trading Day Of Sunday 19th

For the upcoming trading day on Sunday, 19th we expect MetaBrands USD to open at $0.0221, and during the day (based on 14 day Average True Range), to move between $0.0214 and $0.0228, which gives a possible trading interval of +/-$0.0007 (+/-3.14%) up or down from last closing price. If MetaBrands USD takes out the full calculated possible swing range there will be an estimated 6.29% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0222 (0.41%) than the support at $0.0214 (3.02%), 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 MetaBrands USD cryptocurrency A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for MetaBrands USD cryptocurrency to perform well in the short-term. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.511 Buy Candidate Upgraded

Predicted Opening Price for MetaBrands USD of Sunday, May 19, 2024

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