In this Merit Circle technical analysis, we will examine the current price action, trading volume, key levels and indicators for MC-USDT. Merit Circle (MC) is a decentralized cryptocurrency that utilizes a proof-of-stake consensus algorithm, which allows for faster transaction processing times and reduced energy consumption compared to traditional proof-of-work algorithms. MC also features a unique governance system that allows holders of the cryptocurrency to vote on proposals for its development and growth. Through this system, users can actively participate in shaping the future of the Merit Circle ecosystem.
Merit Circle Price Overview:
As of October 02, 2023, Merit Circle is trading at approximately 0.3556 USDT. Let’s dive into the detailed price action for MC-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.3417 |
| High (H) | 0.3728 |
| Low (L) | 0.3373 |
| Close (C) | 0.3556 |
| Volume (C) | 14,992,201.30 |
- Open (O): The opening price for today’s trading session was approximately 0.3417 USDT.
- High (H): Merit Circle reached a daily high of around 0.3728 USDT.
- Low (L): The daily low for MC-USDT was approximately 0.3373 USDT.
- Close (C): At the time of analysis, Merit Circle is trading near its daily close of 0.3556 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 4.13% |
| 3D Change (%) | 4.71% |
| 7D Change (%) | 2.63% |
| 30D Change (%) | 21.03% |
| 90D Change (%) | 79.32% |
| YTD Change (%) | 34.19% |
Over the past three days, MCUSDT has risen by approximately 4.71%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 2.63%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with MCUSDT maintaining an upward trend of approximately 21.03%, despite intermittent fluctuations. Examining the last 90 days, MCUSDT has witnessed substantial rise of approximately 79.32%, reflecting strong long-term confidence. Year-to-date, MCUSDT has steadily appreciated by around 34.19%, 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-USDT 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 1.13322.
- Momentum score is 0.21035.
MC USDT Technical Analysis
Merit Circle Trading Volume:
The trading volume for Merit Circle (MC) over the past 24 hours has been significant, with approximately 14,992,201.30 USDT 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 above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): Merit Circle is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for MC-USDT is currently in the high zone, around 55.23403. This suggests that Merit Circle is in bullish territory.
Analysis from TradingView:
Our Key Takeaways:
Merit Circle (MC-USDT) is currently exhibiting signs of short-term bullish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the high RSI and significant trading volume are high signals for potential upward movement.
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.
