MUX Protocol USD Cryptocurrency Forecast
MUX Protocol USD cryptocurrency price up 0.232% on Monday
(Updated on Jun 10, 2024)
The MUX Protocol USD cryptocurrency price gained 0.232% on the last trading day (Monday, 10th Jun 2024), rising from $5.06 to $5.07. During the last trading day the cryptocurrency fluctuated 0.96% from a day low at $5.02 to a day high of $5.07. The price has risen in 6 of the last 10 days but is still down by -14.36% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 thousand more shares were traded than the day before. In total, 34 thousand shares were bought and sold for approximately $172.68 thousand.
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 -63.28% during the next 3 months and, with a 90% probability hold a price between $1.56 and $2.15 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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MCBUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. The MUX Protocol 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 $5.13 and $6.68. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, June 03, 2024, and so far it has risen 0.87%. 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). MUX Protocol 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. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for MUX Protocol USD cryptocurrency
MUX Protocol USD finds support from accumulated volume at $5.06 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0484 between high and low, or 0.96%. For the last week, the cryptocurrency has had daily average volatility of 1.67%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MCBUSD) For The Upcoming Trading Day Of Tuesday 11th
For the upcoming trading day on Tuesday, 11th we expect MUX Protocol USD to open at $5.05, and during the day (based on 14 day Average True Range), to move between $4.73 and $5.41, which gives a possible trading interval of +/-$0.341 (+/-6.73%) up or down from last closing price. If MUX Protocol USD takes out the full calculated possible swing range there will be an estimated 13.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.06 (0.23%) than the resistance at $5.62 (10.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MUX Protocol USD cryptocurrency A Buy?
MUX Protocol USD 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: -4.206 Sell Candidate Unchanged
Predicted Opening Price for MUX Protocol USD of Tuesday, June 11, 2024
| Fair opening price June 11, 2024 | Current price |
|---|---|
| $5.05 ( 0.295%) | $5.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MCBUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.10 | 0.660% |
| R2 | 5.08 | 0.295% |
| R1 | 5.07 | 0.0699% |
| Price | 5.07 | |
| S1 | 5.03 | -0.659% |
| S2 | 5.02 | -0.88% |
| S3 | 5.00 | -1.25% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.06 | 19.66% |
| R2 | 6.02 | 18.78% |
| R1 | 5.62 | 10.87% |
| Price | 5.07 | |
| S1 | 5.06 | -0.231% |
| S2 | 5.03 | -0.707% |
| S3 | 5.02 | -0.86% |
FAQ
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