03 October 2022 : In this article we will walk you through MetaXConnect price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for MetaXConnect, Is MXC a good investment? MetaXConnect support & resistance levels etc. But before diving deep into the MXC technical analysis, let us talk about the current market conditions.
Over the last twenty-four hours, there was a down fall of -1.34 percent, bringing the entire cryptocurrency market to $938,674,107,757. The total trading volume stands at $53,771,713,429. Bitcoin shares 39.72 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,449.78 level after an upward movement of 1.29%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 1.85 percent reaching to $1,321.44 during the previous 24 hours.
While publishing this blog, BNB traded at $287.58, following a price change of 1.59% within the same time frame. XRP the native coin of XRP is down by -1.56 and currently trading at $0.45. Additionally, Cardano reached $0.43 after seeing a uplift of 0.31% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.
Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of MetaXConnect (MXC)
|MXC Resistance Levels||MXC Support Levels|
|Resistance Level 1||$0.073||Support Level 1||$0.061|
|Resistance Level 2||$0.079||Support Level 2||$0.055|
|Resistance Level 3||$0.085||Support Level 3||$0.049|
MXC has recorded a upsurge, gaining 1% in last 24 hours. The current value of MetaXConnect is hovering at $0.066 with the trading volume of $13,093,435.00 USD in the same timeframe. The overall marketcap for MXC is $173,898,968.00 USD while the coin price changes -21.15% over the week.
MXC price analysis for 03 October 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the MetaXConnect.
|Simple Moving Average (10)||0.065||Buy|
|Exponential Moving Average (10)||0.066||Sell|
|Simple Moving Average (20)||0.067||Sell|
|Exponential Moving Average (20)||0.067||Sell|
|Simple Moving Average (50)||0.069||Sell|
|Exponential Moving Average (50)||0.069||Sell|
The Relative strength index (RSI) for MXC Coin is currently hovering at 54 for 14-days average line, which means MXC is moving towards overbought zone. The MACD line is standing above of the signal line after a positive crossover. MetaXConnect investors need to wait for any directional change over the daily chart. The immediate resistance level for MXC prices is at the psychological mark of $0.073. If everything goes well the coin might try to break above $0.079 mark. Conversely, the broken trend line might bring the price back to $0.061 support level. While MXC’s Williams %R indicator is at -14.334 for the 14-day time period indicating a overbought condition and short term trend price correction is possible.
From the technical analysis, the overall trend of the MetaXConnect is still bearish; however, the price action might shows an attempt a bullish reversal with its bullish engulfing candle pattern. Therefore, if MXC manages to stay above $0.061, it can provide an excellent long opportunity for MXC communnity.