Mina / US Dollar Cryptocurrency Forecast
Mina / US Dollar cryptocurrency price up 2.15% on Friday
(Updated on May 03, 2024)
The Mina / US Dollar cryptocurrency price gained 2.15% on the last trading day (Friday, 3rd May 2024), rising from $0.789 to $0.81. During the last trading day the cryptocurrency fluctuated 7.09% from a day low at $0.766 to a day high of $0.82. The price has fallen in 7 of the last 10 days and is down by -9.41% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 million more shares were traded than the day before. In total, 18 million shares were bought and sold for approximately $14.90 million.
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 -32.42% during the next 3 months and, with a 90% probability hold a price between $0.386 and $0.85 at the end of this 3-month period.
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MINAUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. The Mina / US Dollar 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 $0.82 and $0.94. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Sunday, April 14, 2024, and so far it has risen 14.91%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Mina / US Dollar cryptocurrency
Mina / US Dollar finds support from accumulated volume at $0.799 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 $0.0543 between high and low, or 7.09%. For the last week, the cryptocurrency has had daily average volatility of 8.55%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MINAUSD) For The Upcoming Trading Day Of Saturday 4th
For the upcoming trading day on Saturday, 4th we expect Mina / US Dollar to open at $0.797, and during the day (based on 14 day Average True Range), to move between $0.726 and $0.89, which gives a possible trading interval of +/-$0.0800 (+/-9.93%) up or down from last closing price. If Mina / US Dollar takes out the full calculated possible swing range there will be an estimated 19.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.799 (0.91%) than the resistance at $0.85 (5.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mina / US Dollar cryptocurrency A Buy?
Mina / US Dollar 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: -2.190 Sell Candidate Unchanged
Predicted Opening Price for Mina / US Dollar of Saturday, May 4, 2024
| Fair opening price May 4, 2024 | Current price |
|---|---|
| $0.797 ( 1.11%) | $0.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MINAUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.85 | 5.62 % | |
| R2 | 0.83 | 3.05 % | ||
| R1 | 0.82 | 1.46 % | ||
| Current price: | 0.81 | |||
| Support | S1 | 0.776 | -3.69 % | |
| S2 | 0.764 | -5.27 % | ||
| S3 | 0.743 | -7.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.89 | 10.38 % | |
| R2 | 0.87 | 8.24 % | ||
| R1 | 0.85 | 5.64 % | ||
| Current price | 0.81 | |||
| Support | S1 | 0.799 | -0.91% | |
| S2 | 0.787 | -2.36% | ||
| S3 | 0.778 | -3.46% |
FAQ
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