Marinade / US Dollar Cryptocurrency Forecast
Marinade / US Dollar cryptocurrency upgraded to Hold/Accumulate.
(Updated on May 17, 2024)
The Marinade / US Dollar cryptocurrency price gained 4.32% on the last trading day (Friday, 17th May 2024), rising from $0.155 to $0.161. During the last trading day the cryptocurrency fluctuated 5.63% from a day low at $0.155 to a day high of $0.163. The price has fallen in 5 of the last 10 days and is down by -5.57% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 664 thousand more shares were traded than the day before. In total, 664 thousand shares were bought and sold for approximately $106.97 thousand.
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 -32.53% during the next 3 months and, with a 90% probability hold a price between $0.0750 and $0.204 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MNDEUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 15.95%. 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). Marinade / US Dollar 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 Marinade / US Dollar 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 $0.171. On a fall, the cryptocurrency will find some support from the short-term average at $0.155. 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 Marinade / US Dollar cryptocurrency
Marinade / US Dollar finds support from accumulated volume at $0.156 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 a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0087 between high and low, or 5.63%. For the last week, the cryptocurrency has had daily average volatility of 5.02%.
Our recommended stop-loss: $0.153 (-5.02%) (This cryptocurrency has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (MNDEUSD) For The Upcoming Trading Day Of Saturday 18th
For the upcoming trading day on Saturday, 18th we expect Marinade / US Dollar to open at $0.160, and during the day (based on 14 day Average True Range), to move between $0.149 and $0.174, which gives a possible trading interval of +/-$0.0126 (+/-7.81%) up or down from last closing price. If Marinade / US Dollar takes out the full calculated possible swing range there will be an estimated 15.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.156 (2.93%) than the resistance at $0.176 (9.16%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Marinade / US Dollar cryptocurrency A Buy?
Marinade / US Dollar 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. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Marinade / US Dollar of Saturday, May 18, 2024
Fair opening price May 18, 2024 | Current price |
---|---|
$0.160 ( 0.90%) | $0.161 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MNDEUSD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.168 | 4.51 % | |
R2 | 0.165 | 2.44 % | ||
R1 | 0.163 | 1.17 % | ||
Current price: | 0.161 | |||
Support | S1 | 0.156 | -2.96 % | |
S2 | 0.154 | -4.24 % | ||
S3 | 0.151 | -6.30 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.196 | 21.32 % | |
R2 | 0.195 | 20.74 % | ||
R1 | 0.176 | 9.16 % | ||
Current price | 0.161 | |||
Support | S1 | 0.156 | -2.93% | |
S2 | 0.152 | -5.48% | ||
S3 | 0.139 | -13.75% |
FAQ
Click here for our free guide on how to buy Marinade / US Dollar Cryptocurrency.