MyBit USD Cryptocurrency Forecast

Red day on Tuesday for MyBit USD
(Updated on Jul 02, 2024)

MYBUSD Signals & Forecast

The MyBit USD cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0019 and $0.0018. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 18, 2024, and so far it has fallen -64.08%. Further fall is indicated until a new bottom pivot has been found. 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. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for MyBit USD cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0020 and $0.0019. 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, MyBit USD finds support just below today's level at $0.0020. If this is broken, then the next support from accumulated volume will be at $0.0019 and $0.0017.

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 $0.000007 between high and low, or 0.307%. For the last week the cryptocurrency has had daily average volatility of 255.18%.

Our recommended stop-loss: $0.0022 (-5.88%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 102 days ago.)

Trading Expectations (MYBUSD) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect MyBit USD to open at $0.0023, and during the day (based on 14 day Average True Range), to move between $0.0016 and $0.0030, which gives a possible trading interval of +/-$0.0007 (+/-30.91%) up or down from last closing price. If MyBit USD takes out the full calculated possible swing range there will be an estimated 61.82% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0020 (14.31%) than the resistance at $0.0027 (20.09%), 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 positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.091 Hold/Accumulate Unchanged

Predicted Opening Price for MyBit USD of Wednesday, July 3, 2024

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