Medicalchain USD Cryptocurrency Forecast
Medicalchain USD cryptocurrency price up 0.203% on Monday
(Updated on May 20, 2024)
The Medicalchain USD cryptocurrency price gained 0.203% on the last trading day (Monday, 20th May 2024), rising from $0.0010 to $0.0010. During the last trading day the cryptocurrency fluctuated 0.610% from a day low at $0.0010 to a day high of $0.0010. The price has been going up and down for this period, and there has been a 4.11% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 508 more shares were traded than the day before. In total, 14 thousand shares were bought and sold for approximately $13.66 .
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 -13.88% during the next 3 months and, with a 90% probability hold a price between $0.0006 and $0.0011 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.
MTNUSD Signals & Forecast
The Medicalchain USD cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the cryptocurrency has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0010 and $0.0010. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has risen 12.29%. Further rise is indicated until a new top pivot has been found. Medicalchain 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Medicalchain USD cryptocurrency
Medicalchain USD finds support from accumulated volume at $0.0010 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 $0.000006 between high and low, or 0.610%. For the last week, the cryptocurrency has had daily average volatility of 0.96%.
Our recommended stop-loss: $0.0009 (-4.74%) (This cryptocurrency has high daily movements and this gives high risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (MTNUSD) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Medicalchain USD to open at $0.0010, and during the day (based on 14 day Average True Range), to move between $0.0009 and $0.0011, which gives a possible trading interval of +/-$0.00006584 (+/-6.67%) up or down from last closing price. If Medicalchain USD takes out the full calculated possible swing range there will be an estimated 13.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0010 (2.63%) than the support at $0.0010 (3.34%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Medicalchain USD cryptocurrency A Buy?
Medicalchain 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.
Current score: 0.152 Hold/Accumulate Unchanged
Predicted Opening Price for Medicalchain USD of Tuesday, May 21, 2024
Fair opening price May 21, 2024 | Current price |
---|---|
$0.0010 ( 0%) | $0.0010 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MTNUSD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0010 | 0.608 % | |
R2 | 0.0010 | 0.376 % | ||
R1 | 0.0010 | 0.232 % | ||
Current price: | 0.0010 | |||
Support | S1 | 0.0010 | -0.232 % | |
S2 | 0.0010 | -0.376 % | ||
S3 | 0.0010 | -0.608 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0012 | 21.78 % | |
R2 | 0.0010 | 4.15 % | ||
R1 | 0.0010 | 2.63 % | ||
Current price | 0.0010 | |||
Support | S1 | 0.0010 | -3.34% | |
S2 | 0.0009 | -4.46% | ||
S3 | 0.0009 | -7.09% |
FAQ
Click here for our free guide on how to buy Medicalchain USD Cryptocurrency.