MiL.k USD Cryptocurrency Forecast
Weaker technical forecast for MiL.k USD as cryptocurrency downgraded to Sell Candidate.
(Updated on May 18, 2024)
The MiL.k USD cryptocurrency price gained 0.573% on the last trading day (Saturday, 18th May 2024), rising from $0.316 to $0.318. During the last trading day the cryptocurrency fluctuated 1.32% from a day low at $0.315 to a day high of $0.319. The price has fallen in 5 of the last 10 days and is down by -0.74% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 162 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $775.11 thousand.
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.301 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -18.77% during the next 3 months and, with a 90% probability hold a price between $0.245 and $0.346 at the end of this 3-month period.
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MLKUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has risen 4.06%. 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). MiL.k 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The MiL.k USD cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $0.326. On a fall, the cryptocurrency will find some support from the short-term average at $0.313. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for MiL.k USD cryptocurrency
MiL.k USD finds support from accumulated volume at $0.315 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the cryptocurrency moved $0.0041 (1.32%) between high and low. For the last week, the cryptocurrency has had daily average volatility of 2.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MLKUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect MiL.k USD to open at $0.317, and during the day (based on 14 day Average True Range), to move between $0.305 and $0.331, which gives a possible trading interval of +/-$0.0127 (+/-4.00%) up or down from last closing price. If MiL.k USD takes out the full calculated possible swing range there will be an estimated 8.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.315 (0.95%) than the resistance at $0.334 (5.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MiL.k USD cryptocurrency A Buy?
MiL.k USD 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.032 Sell Candidate Downgraded
Predicted Opening Price for MiL.k USD of Sunday, May 19, 2024
Fair opening price May 19, 2024 | Current price |
---|---|
$0.317 ( 0.233%) | $0.318 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MLKUSD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.321 | 1.07 % | |
R2 | 0.320 | 0.572 % | ||
R1 | 0.319 | 0.265 % | ||
Current price: | 0.318 | |||
Support | S1 | 0.316 | -0.730 % | |
S2 | 0.315 | -1.04 % | ||
S3 | 0.313 | -1.53 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.384 | 20.91 % | |
R2 | 0.347 | 9.18 % | ||
R1 | 0.334 | 5.09 % | ||
Current price | 0.318 | |||
Support | S1 | 0.315 | -0.95% | |
S2 | 0.315 | -0.99% | ||
S3 | 0.312 | -1.99% |
FAQ
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