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Matrix Labs USD Cryptocurrency Forecast

$0.0010
+0.000042 (+4.22%)
At Close: May 17, 2024
RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of MATRIXUSD
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Green day on Friday for Matrix Labs USD
(Updated on May 17, 2024)

Hold candidate since May 16, 2024 Gain 4.22% PDF

The Matrix Labs USD cryptocurrency price gained 4.22% on the last trading day (Friday, 17th May 2024), rising from $0.0010 to $0.0010. During the last trading day the cryptocurrency fluctuated 4.43% from a day low at $0.0010 to a day high of $0.0010. The price has fallen in 6 of the last 10 days but is still up by 0.48% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 more shares were traded than the day before. In total, 6 shares were bought and sold for approximately $0.0062 .

The cryptocurrencyhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.0009, a level that may pose a second chance to hit a runner. According to fan-theory $0.0015 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

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MATRIXUSD Signals & Forecast

The Matrix Labs 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 $0.0010 and $0.0009. A breakdown below any of these levels will issue sell signals. Matrix Labs USD has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Sunday, April 28, 2024, and so far it has fallen -8.95%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Matrix Labs USD cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0008 and $0.0008. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, Matrix Labs USD finds support just below today's level at $0.0008. If this is broken, then the next support from accumulated volume will be at $0.0008 and $0.0008.

This cryptocurrency has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.000044 between high and low, or 4.43%. For the last week, the cryptocurrency has had daily average volatility of 2.40%.

Our recommended stop-loss: $0.0010 (-4.04%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 19 days ago.)

Trading Expectations (MATRIXUSD) For The Upcoming Trading Day Of Saturday 18th

For the upcoming trading day on Saturday, 18th we expect Matrix Labs USD to open at $0.0010, and during the day (based on 14 day Average True Range), to move between $0.0010 and $0.0011, which gives a possible trading interval of +/-$0.00003239 (+/-3.12%) up or down from last closing price. If Matrix Labs USD takes out the full calculated possible swing range there will be an estimated 6.24% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0010 (0.10%) than the support at $0.0008 (20.33%), 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 Matrix Labs USD cryptocurrency A Buy?

Matrix Labs USD 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 Matrix Labs USD of Saturday, May 18, 2024

Fair opening price May 18, 2024 Current price
$0.0010 ( 1.41%) $0.0010

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

Trading levels for MATRIXUSD

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 0.0011 2.83 %
R2 0.0011 1.21 %
R1 0.0010 0.206 %
Current price: 0.0010
Support S1 0.0010 -3.03 %
S2 0.0010 -4.03 %
S3 0.0010 -5.65 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0.0011 9.83 %
R2 0.0011 6.45 %
R1 0.0010 0.0954 %
Current price 0.0010
Support S1 0.0008 -20.33%
S2 0.0008 -22.83%
S3 0.0008 -23.41%

FAQ

What is the symbol for Matrix Labs USD Cryptocurrency and on which exchange is it traded?
The symbol for Matrix Labs USD is MATRIXUSD and it is traded on the CRYPTO (Cryptocurrencies).

Should I buy or sell Matrix Labs USD Cryptocurrency?
Matrix Labs USD 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.

How to buy Matrix Labs USD Cryptocurrency?
Matrix Labs USD Cryptocurrency can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Matrix Labs USD Cryptocurrency.

What's the current price of Matrix Labs USD Cryptocurrency?
As of the end of day on the May 17, 2024, the price of an Matrix Labs USD (MATRIXUSD) share was $0.0010.

What is the 52-week high and low for Matrix Labs USD Cryptocurrency?
The 52-week high for Matrix Labs USD Cryptocurrency is $0.0020 and the 52-week low is $0.0006.
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