Mute USD Cryptocurrency Forecast

Mute USD cryptocurrency upgraded to Sell Candidate.
(Updated on May 20, 2024)

MUTEUSD Signals & Forecast

There are mixed signals in the cryptocurrency today. The Mute USD 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 $0.777. On a fall, the cryptocurrency will find some support from the short-term average at $0.751. 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. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -23.68%. Further fall is indicated until a new bottom pivot has been found. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Mute USD cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.656 and $0.650. 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, Mute USD finds support just below today's level at $0.656. If this is broken, then the next support from accumulated volume will be at $0.650 and $0.640.

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 $0.0461 between high and low, or 6.44%. For the last week the cryptocurrency has had daily average volatility of 4.28%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (MUTEUSD) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Mute USD to open at $0.743, and during the day (based on 14 day Average True Range), to move between $0.704 and $0.798, which gives a possible trading interval of +/-$0.0469 (+/-6.24%) up or down from last closing price. If Mute USD takes out the full calculated possible swing range there will be an estimated 12.49% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.656 (12.70%) than the resistance at $0.87 (15.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Mute USD cryptocurrency A Buy?

Mute USD holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -2.677 Sell Candidate Upgraded

Predicted Opening Price for Mute USD of Tuesday, May 21, 2024

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