Medicalchain USD Cryptocurrency Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Medicalchain USD cryptocurrency upgraded to Buy Candidate.
(Updated on Jun 02, 2024)
The Medicalchain USD cryptocurrency price gained 1.90% on the last trading day (Sunday, 2nd Jun 2024), rising from $0.0010 to $0.0010. During the last trading day the cryptocurrency fluctuated 1.29% from a day low at $0.0010 to a day high of $0.0010. The price has risen in 6 of the last 10 days and is up by 5.72% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 24 thousand shares were bought and sold for approximately $23.96 .
The cryptocurrency is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Medicalchain USD cryptocurrency with a 90% probability to be traded between $0.0008 and $0.0013 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and cryptocurrencies seldom manage to go directly from the bottom of a trend up to the top. Cryptocurrencies turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MTNUSD Signals & Forecast
Mostly positive signals in the chart today. The Medicalchain 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 $0.0011. On a fall, the cryptocurrency will find some support from the long-term average at approximately $0.0010. 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 Saturday, June 01, 2024, and so far it has risen 1.90%. 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). 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.
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 has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.000013 between high and low, or 1.29%. For the last week, the cryptocurrency has had daily average volatility of 4.38%.
Our recommended stop-loss: $0.0010 (-5.25%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (MTNUSD) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Medicalchain USD to open at $0.0010, and during the day (based on 14 day Average True Range), to move between $0.0010 and $0.0011, which gives a possible trading interval of +/-$0.00005886 (+/-5.79%) up or down from last closing price. If Medicalchain USD takes out the full calculated possible swing range there will be an estimated 11.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0010 (0.39%) than the resistance at $0.0010 (1.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Medicalchain USD cryptocurrency A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Medicalchain USD cryptocurrency to perform well in the short-term period. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Buy candidate.
Current score: 2.341 Buy Candidate Upgraded
Predicted Opening Price for Medicalchain USD of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $0.0010 ( 0.229%) | $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 | 1.05 % | |
| R2 | 0.0010 | 0.561 % | ||
| R1 | 0.0010 | 0.259 % | ||
| Current price: | 0.0010 | |||
| Support | S1 | 0.0010 | -0.718 % | |
| S2 | 0.0010 | -1.02 % | ||
| S3 | 0.0010 | -1.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0012 | 18.19 % | |
| R2 | 0.0011 | 8.65 % | ||
| R1 | 0.0010 | 1.08 % | ||
| Current price | 0.0010 | |||
| Support | S1 | 0.0010 | -0.393% | |
| S2 | 0.0009 | -7.28% | ||
| S3 | 0.0009 | -9.83% |
FAQ
Click here for our free guide on how to buy Medicalchain USD Cryptocurrency.
