Magic Internet Money USD Cryptocurrency Forecast
Magic Internet Money USD cryptocurrency price ended at $0.98 on Saturday, after gaining 0.165%.
(Updated on May 11, 2024)
The Magic Internet Money USD cryptocurrency price gained 0.165% on the last trading day (Saturday, 11th May 2024), rising from $0.98 to $0.98. During the last trading day the cryptocurrency fluctuated 0.87% from a day low at $0.98 to a day high of $0.99. The price has been going up and down for this period, and there has been a -0.79% loss for the last 2 weeks. Volume fell on the last day by -49 thousand shares and in total, 60 thousand shares were bought and sold for approximately $59.14 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The cryptocurrency is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Magic Internet Money USD cryptocurrency with a 90% probability to be traded between $0.97 and $0.99 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and cryptocurrencies seldom manage to go directly from the bottom of a trend up to the top. Cryptocurrencies turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MIMUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 0.165%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Magic Internet Money 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 $0.99 and $0.99. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Magic Internet Money USD cryptocurrency
Magic Internet Money USD finds support from accumulated volume at $0.98 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0085 between high and low, or 0.87%. For the last week the cryptocurrency has had daily average volatility of 1.08%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MIMUSD) For The Upcoming Trading Day Of Sunday 12th
For the upcoming trading day on Sunday, 12th we expect Magic Internet Money USD to open at $0.98, and during the day (based on 14 day Average True Range), to move between $0.97 and $0.99, which gives a possible trading interval of +/-$0.0117 (+/-1.19%) up or down from last closing price. If Magic Internet Money USD takes out the full calculated possible swing range there will be an estimated 2.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.98 (0.02%) than the resistance at $0.99 (0.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Magic Internet Money USD cryptocurrency A Buy?
Magic Internet Money USD holds several negative signals and is within a narrow 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: -3.024 Sell Candidate Unchanged
Predicted Opening Price for Magic Internet Money USD of Sunday, May 12, 2024
| Fair opening price May 12, 2024 | Current price |
|---|---|
| $0.98 ( 0.0234%) | $0.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MIMUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.99 | 0.89 % | |
| R2 | 0.99 | 0.560 % | ||
| R1 | 0.99 | 0.355 % | ||
| Current price: | 0.98 | |||
| Support | S1 | 0.98 | -0.308 % | |
| S2 | 0.98 | -0.513 % | ||
| S3 | 0.97 | -0.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.99 | 1.04 % | |
| R2 | 0.99 | 0.81 % | ||
| R1 | 0.99 | 0.454 % | ||
| Current price | 0.98 | |||
| Support | S1 | 0.98 | -0.0244% | |
| S2 | 0.98 | -0.0610% | ||
| S3 | 0.98 | -0.165% |
FAQ
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