Matrix Labs USD Cryptocurrency Forecast
Red day on Tuesday for Matrix Labs USD
(Updated on Jun 25, 2024)
No changes to the price of Matrix Labs USD cryptocurrency on the last trading day (Tuesday, 25th Jun 2024). During the last trading day the cryptocurrency fluctuated 0% from a day low at $0.0010 to a day high of $0.0010. The price has fallen in 4 of the last 10 days and is down by -3.89% for this period.
The cryptocurrency lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to rise 8.16% during the next 3 months and, with a 90% probability hold a price between $0.0009 and $0.0015 at the end of this 3-month period.
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MATRIXUSD 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 Matrix Labs USD 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 $0.0010 and $0.0011. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 19, 2024, and so far it has fallen -1.33%. Further fall is indicated until a new bottom pivot has been found. 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 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 $0.0007.
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 0.145%
Our recommended stop-loss: $0.0009 (-4.35%) (This cryptocurrency has low daily movements and this gives low risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (MATRIXUSD) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Matrix Labs USD to open at $0.0010, and during the day (based on 14 day Average True Range), to move between $0.0009 and $0.0010, which gives a possible trading interval of +/-$0.00002449 (+/-2.54%) up or down from last closing price. If Matrix Labs USD takes out the full calculated possible swing range there will be an estimated 5.08% 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 (6.95%) than the support at $0.0008 (16.91%), 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 negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$0.0010 ( 0%) | $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 | |
---|---|---|
R3 | 0.0010 | - |
R2 | 0.0010 | - |
R1 | 0.0010 | - |
Price | 0.0010 | |
S1 | 0.0010 | - |
S2 | 0.0010 | - |
S3 | 0.0010 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0012 | 20.23% |
R2 | 0.0011 | 18.26% |
R1 | 0.0010 | 6.95% |
Price | 0.0010 | |
S1 | 0.0008 | -16.91% |
S2 | 0.0008 | -17.53% |
S3 | 0.0007 | -23.76% |
FAQ
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