SCRAPUSD Declines Slightly: Traders Eye Key Technical Indicators
The crypto market is buzzing as SCRAPUSD experiences a slight decline, dropping to $0.00708944, down 1.17%. Despite this, there are significant insights and forecasts that traders are watching closely. Let’s dive into the details to understand the current market sentiment and technical outlook for SCRAPUSD.
Current Price Movement and Market Volume
SCRAPUSD’s current price of $0.00708944 marks a decrease of 1.17% with a change of -0.00008417. Today’s trading range has seen a low of $0.00705729 and a high of $0.00717361. The market volume for SCRAPUSD remains low at 113 compared to its average volume of 2720. This low volume suggests a quieter trading environment, which can often lead to increased volatility when the sentiment shifts.
Yearly and Historical Context
Over the past year, SCRAPUSD has seen a high of $0.11441 and a low of $0.00156883. The year-to-date growth is significant at 173.20%, and over the past year, the increase is an impressive 328.49%. Despite recent declines, the long-term growth has been notable, indicating positive sentiment in extended time frames. The five-year change shows a steep decrease of 99.67%, highlighting the token’s previous volatility.
Technical Indicators Overview
Tech indicators are crucial for traders, and SCRAPUSD’s numbers are worth noting. The Relative Strength Index (RSI) sits at 0, indicating potential oversold conditions. The MACD and ADX also register at zero, suggesting a neutral momentum. On the volatility front, the Average True Range (ATR) is zero, while the Keltner Channels show an upper, middle, and lower bound all at $0.01. The Money Flow Index (MFI) and Relative Vigor Index (RVI) both rest at 50, signaling balanced pressure between buy and sell activities.
Future Price Forecasts
Meyka AI’s forecasts indicate varied potential price targets for SCRAPUSD. The projected price in one year is $0.0285, meaning a possible increase of approximately 302%. For those looking longer term, the five-year forecast predicts $0.1253, showcasing a bullish potential. These predictions provide a framework based on current data and trends, but forecasts can change due to macroeconomic shifts, regulations, or unexpected events affecting the crypto market.
Final Thoughts
The current SCRAPUSD price reflects both short-term pressures and the potential for future growth based on historical performance and technical data. While some indicators are neutral, the long-term forecasts offer a glimpse into possible future gains. As always, traders should stay informed and consider various market factors.
FAQs
The current price of SCRAPUSD is $0.00708944, a decrease of 1.17% from its previous value of $0.00717361. You can explore more here.
Meyka AI projects the price of SCRAPUSD could reach $0.0285 in one year and $0.1253 in five years, showing potential growth based on current trends and data.
With an ATR of 0 and low trading volume, SCRAPUSD is currently experiencing low volatility, which may change with shifts in market sentiment or significant events.
The RSI for SCRAPUSD is at 0, which typically suggests the asset might be oversold, but traders should consider this alongside other technical factors.
Yes, SCRAPUSD has increased by about 173.20% year-to-date and 328.49% over the past year, showcasing significant growth despite recent fluctuations due to market dynamics.
Disclaimer:
Cryptocurrency markets are highly volatile. This content is for informational purposes only. The Forecast Prediction Model is provided for informational purposes only and should not be considered financial advice. Meyka AI PTY LTD provides market data and sentiment analysis, not financial advice. Always do your own research and consider consulting a licensed financial advisor before making investment decisions.
