MyBit USD Cryptocurrency Forecast

MyBit USD cryptocurrency upgraded to Sell Candidate.
(Updated on Apr 30, 2024)

MYBUSD Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The MyBit 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 $0.0031. On a fall, the cryptocurrency will find some support from the short-term average at $0.0024. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for MyBit USD cryptocurrency

MyBit USD finds support from accumulated volume at $0.0023 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the cryptocurrency tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the cryptocurrency During the last day, the cryptocurrency moved $0 between high and low, or 0%. For the last week the cryptocurrency has had daily average volatility of 16.80%

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

Trading Expectations (MYBUSD) For The Upcoming Trading Day Of Wednesday 1st

For the upcoming trading day on Wednesday, 1st we expect MyBit USD to open at $0.0024, and during the day (based on 14 day Average True Range), to move between $0.0018 and $0.0030, which gives a possible trading interval of +/-$0.0006 (+/-24.36%) up or down from last closing price. If MyBit USD takes out the full calculated possible swing range there will be an estimated 48.72% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0023 (3.22%) than the resistance at $0.0025 (3.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is MyBit USD cryptocurrency A Buy?

MyBit 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: -2.060 Sell Candidate Upgraded

Predicted Opening Price for MyBit USD of Wednesday, May 1, 2024

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