MXC / US Dollar Cryptocurrency Forecast
Red day on Friday for MXC / US Dollar
(Updated on Jun 28, 2024)
The MXC / US Dollar cryptocurrency price fell by -1.62% on the last day (Friday, 28th Jun 2024) from $0.0102 to $0.0101. During the last trading day the cryptocurrency fluctuated 8.09% from a day low at $0.0096 to a day high of $0.0104. The price has been going up and down for this period, and there has been a 3.19% gain for the last 2 weeks. Volume fell on the last day along with the cryptocurrency, which is actually a good sign as volume should follow the cryptocurrency. On the last day, the trading volume fell by -6 million shares and in total, 24 million shares were bought and sold for approximately $245.56 thousand.
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 -26.67% during the next 3 months and, with a 90% probability hold a price between $0.0055 and $0.0112 at the end of this 3-month period.
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MXCUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. The MXC / US Dollar cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0101 and $0.0132. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 8.32%. 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).
Support, Risk & Stop-loss for MXC / US Dollar cryptocurrency
MXC / US Dollar finds support from accumulated volume at $0.0098 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 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 $0.0008 between high and low, or 8.09%. For the last week the cryptocurrency has had daily average volatility of 11.61%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MXCUSD) For The Upcoming Trading Day Of Saturday 29th
For the upcoming trading day on Saturday, 29th we expect MXC / US Dollar to open at $0.0100, and during the day (based on 14 day Average True Range), to move between $0.0088 and $0.0113, which gives a possible trading interval of +/-$0.0012 (+/-12.23%) up or down from last closing price. If MXC / US Dollar takes out the full calculated possible swing range there will be an estimated 24.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0098 (3.09%) than the resistance at $0.0119 (18.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MXC / US Dollar cryptocurrency A Buy?
MXC / US Dollar 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.
Current score: -5.062 Strong Sell Candidate Unchanged
Predicted Opening Price for MXC / US Dollar of Saturday, June 29, 2024
| Fair opening price June 29, 2024 | Current price |
|---|---|
| $0.0100 ( 0.603%) | $0.0101 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MXCUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0108 | 7.11% |
| R2 | 0.0105 | 4.16% |
| R1 | 0.0103 | 2.34% |
| Price | 0.0101 | |
| S1 | 0.0097 | -3.55% |
| S2 | 0.0095 | -5.37% |
| S3 | 0.0092 | -8.31% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0125 | 24.54% |
| R2 | 0.0122 | 21.18% |
| R1 | 0.0119 | 18.47% |
| Price | 0.0101 | |
| S1 | 0.0098 | -3.09% |
| S2 | 0.0093 | -7.68% |
| S3 | 0 | - |
FAQ
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