Motocoin Cryptocurrency Forecast

Motocoin cryptocurrency downgraded from Buy Candidate to Hold/Accumulate after Sunday trading session.
(Updated on May 19, 2024)

MOTOUSD Signals & Forecast

The Motocoin cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0020 and $0.0019. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 15.78%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this cryptocurrency may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Motocoin cryptocurrency

Motocoin finds support from accumulated volume at $0.0019 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, but be aware of low or falling volume as this increases the risk. During the last day, the cryptocurrency moved $0.000049 between high and low, or 2.47%. For the last week the cryptocurrency has had daily average volatility of 3.01%.

Our recommended stop-loss: $0.0019 (-5.21%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 18 days ago.)

Trading Expectations (MOTOUSD) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Motocoin to open at $0.0020, and during the day (based on 14 day Average True Range), to move between $0.0019 and $0.0021, which gives a possible trading interval of +/-$0.0001 (+/-5.29%) up or down from last closing price. If Motocoin takes out the full calculated possible swing range there will be an estimated 10.58% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0019 (2.78%) than the resistance at $0.0021 (4.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Motocoin cryptocurrency A Buy?

Motocoin 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.925 Hold/Accumulate Downgraded

Predicted Opening Price for Motocoin of Monday, May 20, 2024

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