Marginswap USD Cryptocurrency Forecast
Weaker technical forecast for Marginswap USD as cryptocurrency downgraded to Hold/Accumulate.
(Updated on May 19, 2024)
The Marginswap USD cryptocurrency price fell by -1.72% on the last day (Sunday, 19th May 2024) from $0.0220 to $0.0216. During the last trading day the cryptocurrency fluctuated 2.29% from a day low at $0.0216 to a day high of $0.0221. The price has risen in 5 of the last 10 days and is up by 3.64% over the past 2 weeks. Volume fell on the last day along with the cryptocurrency, which is actually a good sign as volume should follow the cryptocurrency. On the last day, the trading volume fell by -3 shares and in total, 200 shares were bought and sold for approximately $4.33 .
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 -21.23% during the next 3 months and, with a 90% probability hold a price between $0.0144 and $0.0210 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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MFIUSD Signals & Forecast
The Marginswap USD cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the cryptocurrency has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0214 and $0.0214. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 9.46%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this cryptocurrency may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Marginswap USD cryptocurrency
Marginswap USD finds support from accumulated volume at $0.0212 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, but be aware of low or falling volume as this increases the risk. During the last day, the cryptocurrency moved $0.0005 between high and low, or 2.29%. For the last week the cryptocurrency has had daily average volatility of 3.06%.
Our recommended stop-loss: $0.0204 (-5.79%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (MFIUSD) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Marginswap USD to open at $0.0218, and during the day (based on 14 day Average True Range), to move between $0.0208 and $0.0225, which gives a possible trading interval of +/-$0.0008 (+/-3.77%) up or down from last closing price. If Marginswap USD takes out the full calculated possible swing range there will be an estimated 7.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0220 (1.75%) than the support at $0.0212 (2.25%), 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 Marginswap USD cryptocurrency A Buy?
Marginswap 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.086 Hold/Accumulate Downgraded
Predicted Opening Price for Marginswap USD of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0218 ( 0.725%) | $0.0216 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MFIUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0223 | 3.01 % | |
| R2 | 0.0221 | 2.14 % | ||
| R1 | 0.0220 | 1.60 % | ||
| Current price: | 0.0216 | |||
| Support | S1 | 0.0216 | -0.148 % | |
| S2 | 0.0215 | -0.688 % | ||
| S3 | 0.0213 | -1.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0221 | 2.09 % | |
| R2 | 0.0221 | 2.09 % | ||
| R1 | 0.0220 | 1.75 % | ||
| Current price | 0.0216 | |||
| Support | S1 | 0.0212 | -2.25% | |
| S2 | 0.0209 | -3.51% | ||
| S3 | 0.0207 | -4.35% |
FAQ
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