MYCE USD Cryptocurrency Forecast

MYCE USD cryptocurrency downgraded from Hold/Accumulate to Strong Sell Candidate after Saturday trading session.
(Updated on May 18, 2024)

YCEUSD Signals & Forecast

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. The MYCE 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 $0.0019. On a fall, the cryptocurrency will find some support from the short-term average at $0.0013. 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 Wednesday, March 13, 2024, and so far it has fallen -54.33%. 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. The cryptocurrency had a Golden Star Signal on Sunday, October 15, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the cryptocurrency in question.

Support, Risk & Stop-loss for MYCE USD cryptocurrency

MYCE USD finds support from accumulated volume at $0.0013 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 $0.000013 between high and low, or 0.97%. For the last week the cryptocurrency has had daily average volatility of 3.10%.

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

Trading Expectations (YCEUSD) For The Upcoming Trading Day Of Sunday 19th

For the upcoming trading day on Sunday, 19th we expect MYCE USD to open at $0.0013, and during the day (based on 14 day Average True Range), to move between $0.0013 and $0.0014, which gives a possible trading interval of +/-$0.00008331 (+/-6.23%) up or down from last closing price. If MYCE USD takes out the full calculated possible swing range there will be an estimated 12.45% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0013 (0.07%) than the support at $0.0013 (1.57%), 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 MYCE USD cryptocurrency A Buy?

MYCE 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.

Current score: -5.551 Strong Sell Candidate Downgraded

Predicted Opening Price for MYCE USD of Sunday, May 19, 2024

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