HORIZEN - ZEN/USD - 1H - Technical analysis published on 08/01/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Slightly bearish
Technical indicators
72%
0%
28%
My opinion
Bullish above 9.75 USD
My targets
10.47 USD (+5.33%)
11.07 USD (+11.37%)
My analysis
The current short-term bullish trend is expected to quickly reset the neutral or bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for HORIZEN - ZEN/USD as long as the price remains well above 9.75 USD. The buyers' bullish objective is set at 10.47 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 11.07 USD. If there is any crossing, the next objective would be the resistance located at 11.82 USD. As the basic trend is not clearly displayed, attention should be paid to the price reaction to the resistance at 10.47 USD. On this resistance, against the trend traders who would like to go short on HORIZEN - ZEN/USD with a bearish signal from their trading strategy, should not hesitate to act.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
2.7
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The HORIZEN - ZEN/USD price is 9.94 USD. The price has increased by +2.79% since the last closing with the lowest point at 9.55 USD and the highest point at 9.95 USD. The deviation from the price is +4.08% for the low point and -0.10% for the high point.9.55
9.95
9.94
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of this 1H chart of HORIZEN - ZEN/USD indicates that the overall trend is slightly bearish. 57.14% of the signals given by moving averages are bearish. Caution: the strong bullish signals currently being given by short-term moving averages could quickly lead to a reversal of the trend. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : 1 hour
An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 8.17 | 9.22 | 9.75 | 9.94 | 10.47 | 11.07 | 11.82 |
| Change (%) | -17.81% | -7.24% | -1.91% | - | +5.33% | +11.37% | +18.91% |
| Change | -1.77 | -0.72 | -0.19 | - | +0.53 | +1.13 | +1.88 |
| Level | Major | Major | Major | - | Intermediate | 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 | 8.65 | 8.94 | 9.30 | 9.59 | 9.95 | 10.24 | 10.60 |
| Camarilla | 9.49 | 9.55 | 9.61 | 9.67 | 9.73 | 9.79 | 9.85 |
| Woodie | 8.70 | 8.96 | 9.35 | 9.61 | 10.00 | 10.26 | 10.65 |
| Fibonacci | 8.94 | 9.19 | 9.34 | 9.59 | 9.84 | 9.99 | 10.24 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.38 | 8.92 | 9.85 | 11.39 | 12.32 | 13.86 | 14.79 |
| Camarilla | 10.10 | 10.33 | 10.55 | 10.78 | 11.01 | 11.23 | 11.46 |
| Woodie | 7.08 | 8.77 | 9.55 | 11.24 | 12.02 | 13.71 | 14.49 |
| Fibonacci | 8.92 | 9.86 | 10.45 | 11.39 | 12.33 | 12.92 | 13.86 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -0.17 | 3.26 | 6.47 | 9.90 | 13.11 | 16.54 | 19.75 |
| Camarilla | 7.84 | 8.45 | 9.06 | 9.67 | 10.28 | 10.89 | 11.50 |
| Woodie | -0.29 | 3.21 | 6.35 | 9.85 | 12.99 | 16.49 | 19.63 |
| Fibonacci | 3.26 | 5.80 | 7.37 | 9.90 | 12.44 | 14.01 | 16.54 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 63.23 | |
| MACD (12,26,9): | -0.0100 | |
| Directional Movement: | 7.49 | |
| AROON (14): | 64.29 | |
| DEMA (21): | 9.57 | |
| Parabolic SAR (0,02-0,02-0,2): | 9.32 | |
| Elder Ray (13): | 0.25 | |
| Super Trend (3,10): | 9.43 | |
| Zig ZAG (10): | 9.92 | |
| VORTEX (21): | 1.1200 | |
| Stochastique (14,3,5): | 95.31 | |
| TEMA (21): | 9.73 | |
| Williams %R (14): | -5.48 | |
| Chande Momentum Oscillator (20): | 0.52 | |
| Repulse (5,40,3): | 3.4100 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.1400 | |
| Courbe Coppock: | 4.13 |
| MA7: | 10.45 | |
| MA20: | 11.35 | |
| MA50: | 9.14 | |
| MA100: | 8.99 | |
| MAexp7: | 9.72 | |
| MAexp20: | 9.63 | |
| MAexp50: | 9.86 | |
| MAexp100: | 10.22 | |
| Price / MA7: | -4.88% | |
| Price / MA20: | -12.42% | |
| Price / MA50: | +8.75% | |
| Price / MA100: | +10.57% | |
| Price / MAexp7: | +2.26% | |
| Price / MAexp20: | +3.22% | |
| Price / MAexp50: | +0.81% | |
| Price / MAexp100: | -2.74% |
Quotes :
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Real time data
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This member declared not having a position on this financial instrument or a related financial instrument.
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