NKN - NKN/USDT

- USDT (-)

- Real time data - Cryptocompare

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Type:	Cryptocurrencies
Ticker:	NKNUSDT
ISIN:

NKN - NKN/USDT - 1H - Technical analysis published on 05/08/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

11%

67%

22%

My opinion

Bearish under 0.119613 USDT

My targets

0.116347 USDT (-0.24%)

0.107702 USDT (-7.65%)

My analysis

NKN - NKN/USDT is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 0.119613 USDT. The next support located at 0.116347 USDT is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 0.107702 USDT. Below this support, sellers could then target 0.104020 USDT. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.

In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.

Force

7.5

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by mh572. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The NKN - NKN/USDT price is 0.116622 USDT. The price registered a decrease of -3.00% on the session and was traded between 0.114661 USDT and 0.120520 USDT over the period. The price is currently at +1.71% from its lowest and -3.23% from its highest.

0.114661

0.120520

0.116622

The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Bearish opening

Type : Bearish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by NKN - NKN/USDT:

Technical

Technical analysis of this 1H chart of NKN - NKN/USDT indicates that the overall trend is strongly bearish. The signals given by moving averages are 89.29% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

Technical indicators are bearish. There is still some doubt about the decline in the price.
Caution: the Central Indicators scanner currently detects an excess:

RSI indicator is oversold : under 30

Type : Neutral

Timeframe : 1 hour

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Pivot points : price is under support 3

Type : Neutral

Timeframe : 1 hour

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly

The analysis of the price chart with Central Patterns scanners does not return any result.

There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:

Doji

Type : Neutral

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	0.094896	0.104020	0.107702	0.116622	0.116895	0.119613	0.125911
Change (%)	-18.63%	-10.81%	-7.65%	-	+0.23%	+2.56%	+7.97%
Change	-0.021726	-0.012602	-0.008920	-	+0.000273	+0.002991	+0.009289
Level	Minor	Major	Minor	-	Major	Intermediate	Minor

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.112452	0.116291	0.118258	0.122097	0.124064	0.127903	0.129870
Camarilla	0.118628	0.119161	0.119693	0.120225	0.120757	0.121289	0.121822
Woodie	0.111516	0.115823	0.117322	0.121629	0.123128	0.127435	0.128934
Fibonacci	0.116291	0.118509	0.119879	0.122097	0.124315	0.125685	0.127903

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.083724	0.093477	0.106594	0.116347	0.129464	0.139217	0.152334
Camarilla	0.113423	0.115519	0.117616	0.119712	0.121808	0.123905	0.126001
Woodie	0.085407	0.094318	0.108277	0.117188	0.131147	0.140058	0.154017
Fibonacci	0.093477	0.102213	0.107610	0.116347	0.125083	0.130480	0.139217

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	-0.045786	0.029160	0.070537	0.145483	0.186860	0.261806	0.303183
Camarilla	0.079926	0.090589	0.101252	0.111915	0.122578	0.133241	0.143904
Woodie	-0.062570	0.020768	0.053754	0.137091	0.170077	0.253414	0.286400
Fibonacci	0.029160	0.073595	0.101047	0.145483	0.189918	0.217370	0.261806

Numerical data

The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	27.48
MACD (12,26,9):	-0.0020
Directional Movement:	-22.843022
AROON (14):	-92.857143
DEMA (21):	0.115663
Parabolic SAR (0,02-0,02-0,2):	0.117112
Elder Ray (13):	-0.001668
Super Trend (3,10):	0.119836
Zig ZAG (10):	0.115321
VORTEX (21):	0.7200
Stochastique (14,3,5):	8.81
TEMA (21):	0.114661
Williams %R (14):	-86.86
Chande Momentum Oscillator (20):	-0.002363
Repulse (5,40,3):	-1.3136
ROCnROLL:	2
TRIX (15,9):	-0.2192
Courbe Coppock:	8.90

MA7:	0.119122
MA20:	0.122240
MA50:	0.141759
MA100:	0.137913
MAexp7:	0.116189
MAexp20:	0.118237
MAexp50:	0.120430
MAexp100:	0.120658
Price / MA7:	-2.10%
Price / MA20:	-4.60%
Price / MA50:	-17.73%
Price / MA100:	-15.44%
Price / MAexp7:	+0.37%
Price / MAexp20:	-1.37%
Price / MAexp50:	-3.16%
Price / MAexp100:	-3.34%

Quotes : - Real time data - Cryptocompare

This member declared not having a position on this financial instrument or a related financial instrument.

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