Meeds USD Cryptocurrency Forecast

Green day on Thursday for Meeds USD cryptocurrency after gaining 0.81%
(Updated on May 23, 2024)

MEEDUSD Signals & Forecast

The Meeds 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 $0.300 and $0.277. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has risen 30.42%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Meeds USD cryptocurrency

Meeds USD finds support from accumulated volume at $0.330 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 periodic low trading volume this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0169 between high and low, or 5.12%. For the last week the cryptocurrency has had daily average volatility of 8.30%.

The Meeds USD cryptocurrency is extremely overbought on RSI14 (82). Normally this may pose a good selling opportunity but since the cryptocurrency has broken the trend up, the chance for a major correction due to high RSI is very small as the cryptocurrency will find support at the trend broken.

Our recommended stop-loss: $0.324 (-2.86%) (This cryptocurrency has high daily movements and this gives high risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 73 days ago.)

Trading Expectations (MEEDUSD) For The Upcoming Trading Day Of Friday 24th

For the upcoming trading day on Friday, 24th we expect Meeds USD to open at $0.336, and during the day (based on 14 day Average True Range), to move between $0.316 and $0.350, which gives a possible trading interval of +/-$0.0167 (+/-5.00%) up or down from last closing price. If Meeds USD takes out the full calculated possible swing range there will be an estimated 10.01% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.330 (0.80%) than the resistance at $0.338 (1.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Meeds USD cryptocurrency A Buy?

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.

Current score: 4.506 Buy Candidate Unchanged

Predicted Opening Price for Meeds USD of Friday, May 24, 2024

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