MojoCoin USD Cryptocurrency Forecast

High volatility in MojoCoin USD cryptocurrency price on Monday which ended trading at $0.0016
(Updated on Jun 10, 2024)

MOJOUSD Signals & Forecast

The MojoCoin USD cryptocurrency holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the cryptocurrency giving a positive forecast for the stock. On further gains, the cryptocurrency will meet resistance from the short-term Moving Average at approximately $0.0024. On a fall, the cryptocurrency will find some support from the long-term average at approximately $0.0016. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Sunday, June 09, 2024, and so far it has risen 37.87%. 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 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 MojoCoin USD cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0014 and $0.0014. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, MojoCoin USD finds support just below today's level at $0.0014. If this is broken, then the next support from accumulated volume will be at $0.0014 and $0.0013.

This cryptocurrency may move very much during the day (volatility) and with periodic low trading volume this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0006 between high and low, or 49.47%. For the last week the cryptocurrency has had daily average volatility of 130.30%.

Our recommended stop-loss: $0.0015 (-3.46%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (MOJOUSD) For The Upcoming Trading Day Of Tuesday 11th

For the upcoming trading day on Tuesday, 11th we expect MojoCoin USD to open at $0.0015, and during the day (based on 14 day Average True Range), to move between $0.0008 and $0.0024, which gives a possible trading interval of +/-$0.0008 (+/-51.52%) up or down from last closing price. If MojoCoin USD takes out the full calculated possible swing range there will be an estimated 103.04% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0014 (11.25%) than the resistance at $0.0019 (16.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is MojoCoin USD cryptocurrency A Buy?

MojoCoin 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. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Strong Sell to a Hold/Accumulate candidate.

Current score: -0.361 Hold/Accumulate Upgraded

Predicted Opening Price for MojoCoin USD of Tuesday, June 11, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.