Mean DAO USD Cryptocurrency Forecast
Green day on Saturday for Mean DAO USD cryptocurrency after gaining 0.0161%
(Updated on Jun 01, 2024)
The Mean DAO USD cryptocurrency price gained 0.0161% on the last trading day (Saturday, 1st Jun 2024), rising from $0.0248 to $0.0248. During the last trading day the cryptocurrency fluctuated 0.579% from a day low at $0.0247 to a day high of $0.0248. The price has fallen in 5 of the last 10 days and is down by -11.8% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 36 thousand more shares were traded than the day before. In total, 122 thousand shares were bought and sold for approximately $3.03 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 -25.62% during the next 3 months and, with a 90% probability hold a price between $0.0132 and $0.0235 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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MEANUSD Signals & Forecast
Mean DAO 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. The Mean DAO 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 $0.0249 and $0.0254. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -14.49%. 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 Mean DAO USD cryptocurrency
Mean DAO USD finds support from accumulated volume at $0.0244 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 and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.0001 between high and low, or 0.579%. For the last week, the cryptocurrency has had daily average volatility of 1.77%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MEANUSD) For The Upcoming Trading Day Of Sunday 2nd
For the upcoming trading day on Sunday, 2nd we expect Mean DAO USD to open at $0.0248, and during the day (based on 14 day Average True Range), to move between $0.0238 and $0.0258, which gives a possible trading interval of +/-$0.0010 (+/-3.96%) up or down from last closing price. If Mean DAO USD takes out the full calculated possible swing range there will be an estimated 7.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0244 (1.63%) than the resistance at $0.0253 (2.05%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mean DAO USD cryptocurrency A Buy?
Mean DAO USD holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this cryptocurrency.
Current score: -1.163 Sell Candidate Unchanged
Predicted Opening Price for Mean DAO USD of Sunday, June 2, 2024
| Fair opening price June 2, 2024 | Current price |
|---|---|
| $0.0248 ( 0.120%) | $0.0248 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MEANUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0249 | 0.457 % | |
| R2 | 0.0249 | 0.237 % | ||
| R1 | 0.0248 | 0.101 % | ||
| Current price: | 0.0248 | |||
| Support | S1 | 0.0247 | -0.340 % | |
| S2 | 0.0247 | -0.476 % | ||
| S3 | 0.0246 | -0.696 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0299 | 20.69 % | |
| R2 | 0.0285 | 14.82 % | ||
| R1 | 0.0253 | 2.05 % | ||
| Current price | 0.0248 | |||
| Support | S1 | 0.0244 | -1.63% | |
| S2 | 0.0239 | -3.79% | ||
| S3 | 0.0232 | -6.37% |
FAQ
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