MC BTC Merit Circle Technical Analysis

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By Frans van Elst

Merit Circle logo In this Merit Circle technical analysis, we will examine the current price action, trading volume, key levels and indicators for MC-BTC. Merit Circle (MC) is a decentralized cryptocurrency that utilizes a proof-of-stake consensus algorithm to secure its network and validate transactions. MC’s innovative governance model allows holders of the cryptocurrency to vote on proposals for the project’s development, ensuring that the direction of the project is determined by the community. With its unique features and strong focus on community involvement, Merit Circle (MC) aims to provide an alternative to traditional cryptocurrencies and offer users more control over their digital assets.

Merit Circle Price Overview:

As of April 09, 2024, Merit Circle is trading at approximately 1e-05 BTC. Let’s dive into the detailed price action for MC-BTC:

Merit Circle Technical Analysis with MC-BTC prices, volume, moving averages, oscillators, buy/sell signals, and live chart indicators.

Metric Value
Open (O) 1e-05
High (H) 1e-05
Low (L) 1e-05
Close (C) 1e-05
Volume (C) 119,092.29
  • Open (O): The opening price for today’s trading session was approximately 1e-05 BTC.
  • High (H): Merit Circle reached a daily high of around 1e-05 BTC.
  • Low (L): The daily low for MC-BTC was approximately 1e-05 BTC.
  • Close (C): At the time of analysis, Merit Circle is trading near its daily close of 1e-05 BTC.
Metric Value
1D Change (%) 0.14%
3D Change (%) 1.52%
7D Change (%) 7.12%
30D Change (%) 21.53%
90D Change (%) 69.08%
YTD Change (%) -12.39%

Over the past three days, MCBTC has risen by approximately 1.52%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 7.12%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with MCBTC maintaining an upward trend of approximately 21.53%, despite intermittent fluctuations. Examining the last 90 days, MCBTC has witnessed substantial increase of approximately 69.08%, reflecting strong long-term confidence. Year-to-date, MCBTC has steadily dropped by around -12.39%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

Merit Circle Live Chart:

You can access a live price chart for MC-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.

Price Volatility and Momentum:

  • Volatility score is 0.78484.
  • Momentum score is 0.07527.

MC BTC Technical Analysis

Merit Circle Trading Volume:

The trading volume for Merit Circle (MC) over the past 24 hours has been insignificant, with approximately 119,092.29 BTC traded against MC. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): MC is currently trading below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): Merit Circle is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for MC-BTC is currently in the high zone, around 55.22058. This suggests that Merit Circle is in bullish territory.

Analysis from TradingView:

Our Key Takeaways:

Merit Circle (MC-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the high RSI and insignificant trading volume are high signals for potential upward movement.

Merit Circle Technical Analysis with MC-BTC prices, volume, moving averages, oscillators, buy/sell signals, and live chart indicators.

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Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.

Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.

Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.

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