MXGP Fan Token USD Cryptocurrency Forecast
High volatility in MXGP Fan Token USD cryptocurrency price on Tuesday which ended trading at $0.0020
(Updated on May 28, 2024)
The MXGP Fan Token USD cryptocurrency price gained 27.62% on the last trading day (Tuesday, 28th May 2024), rising from $0.0016 to $0.0020. During the last trading day the cryptocurrency fluctuated 47.85% from a day low at $0.0015 to a day high of $0.0022. The price has fallen in 5 of the last 10 days and is down by -15.7% for this period. Volume fell on the last day by -5 thousand shares and in total, 49 shares were bought and sold for approximately $0.0971 . You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0012 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -37.10% during the next 3 months and, with a 90% probability hold a price between $0.0008 and $0.0031 at the end of this 3-month period.
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MXGPUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. The MXGP Fan Token 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 $0.0025. On a fall, the cryptocurrency will find some support from the short-term average at $0.0016. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A buy signal was issued from a pivot bottom point on Saturday, May 25, 2024, and so far it has risen 47.14%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for MXGP Fan Token USD cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0016 and $0.0016. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0016 may give a huge drop in the cryptocurrency price.
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 $0.0007 between high and low, or 47.85%. For the last week the cryptocurrency has had daily average volatility of 19.89%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MXGPUSD) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect MXGP Fan Token USD to open at $0.0019, and during the day (based on 14 day Average True Range), to move between $0.0017 and $0.0023, which gives a possible trading interval of +/-$0.0003 (+/-13.82%) up or down from last closing price. If MXGP Fan Token USD takes out the full calculated possible swing range there will be an estimated 27.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0021 (6.91%) than the support at $0.0016 (17.31%), 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 MXGP Fan Token USD cryptocurrency A Buy?
MXGP Fan Token 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: -3.814 Sell Candidate Upgraded
Predicted Opening Price for MXGP Fan Token USD of Wednesday, May 29, 2024
| Fair opening price May 29, 2024 | Current price |
|---|---|
| $0.0019 ( 5.60%) | $0.0020 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MXGPUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0026 | 29.77 % | |
| R2 | 0.0023 | 16.26 % | ||
| R1 | 0.0021 | 7.91 % | ||
| Current price: | 0.0020 | |||
| Support | S1 | 0.0016 | -19.11 % | |
| S2 | 0.0014 | -27.46 % | ||
| S3 | 0.0012 | -40.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0025 | 24.97 % | |
| R2 | 0.0024 | 20.64 % | ||
| R1 | 0.0021 | 6.91 % | ||
| Current price | 0.0020 | |||
| Support | S1 | 0.0016 | -17.31% | |
| S2 | 0.0016 | -21.64% | ||
| S3 | 0 | . |
FAQ
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