HORIZEN - ZEN/USD - 1H - Technical analysis published on 08/04/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
61%
6%
33%
My opinion
Bearish under 9.23 USD
My targets
8.17 USD (-7.79%)
7.38 USD (-16.74%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on HORIZEN - ZEN/USD as long as the price remains well below 9.23 USD. The next bearish objective for sellers is set at 8.17 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 7.38 USD. If there is any crossing, the next objective would be the support located at 6.65 USD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible over sold items that could be a sign of a short-term correction.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
3.6
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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 8.86 USD. The price has increased by +4.98% since the last closing and was traded between 8.29 USD and 9.11 USD over the period. The price is currently at +6.88% from its lowest and -2.74% from its highest.8.29
9.11
8.86
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by HORIZEN - ZEN/USD:
Technical
Technical analysis of this 1H chart of HORIZEN - ZEN/USD indicates that the overall trend is strongly bearish. 89.29% of the signals given by moving averages are bearish. The slightly bearish signals from short-term moving averages show that the overall trend is slowing down. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
The probability of a further increase are moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near resistance of triangle
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S2
S1
R1
R2
R3
Price
| S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 6.65 | 8.17 | 8.86 | 9.23 | 9.75 | 10.10 |
| Change (%) | -24.94% | -7.79% | - | +4.18% | +10.05% | +14.00% |
| Change | -2.21 | -0.69 | - | +0.37 | +0.89 | +1.24 |
| Level | Major | Major | - | Major | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.57 | 7.45 | 7.94 | 8.82 | 9.31 | 10.19 | 10.68 |
| Camarilla | 8.06 | 8.19 | 8.31 | 8.44 | 8.57 | 8.69 | 8.82 |
| Woodie | 6.39 | 7.35 | 7.76 | 8.72 | 9.13 | 10.09 | 10.50 |
| Fibonacci | 7.45 | 7.97 | 8.29 | 8.82 | 9.34 | 9.66 | 10.19 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.31 | 6.31 | 7.38 | 9.38 | 10.45 | 12.45 | 13.52 |
| Camarilla | 7.60 | 7.88 | 8.16 | 8.44 | 8.72 | 9.00 | 9.28 |
| Woodie | 3.84 | 6.08 | 6.91 | 9.15 | 9.98 | 12.22 | 13.05 |
| Fibonacci | 6.31 | 7.49 | 8.21 | 9.38 | 10.56 | 11.28 | 12.45 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 49.84 | |
| MACD (12,26,9): | -0.2200 | |
| Directional Movement: | 15.40 | |
| AROON (14): | -35.71 | |
| DEMA (21): | 8.58 | |
| Parabolic SAR (0,02-0,02-0,2): | 9.22 | |
| Elder Ray (13): | 0.21 | |
| Super Trend (3,10): | 9.02 | |
| Zig ZAG (10): | 8.99 | |
| VORTEX (21): | 0.9800 | |
| Stochastique (14,3,5): | 50.63 | |
| TEMA (21): | 8.53 | |
| Williams %R (14): | -44.44 | |
| Chande Momentum Oscillator (20): | 0.18 | |
| Repulse (5,40,3): | 3.7600 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.4600 | |
| Courbe Coppock: | 13.75 |
| MA7: | 9.57 | |
| MA20: | 10.95 | |
| MA50: | 9.23 | |
| MA100: | 8.98 | |
| MAexp7: | 8.76 | |
| MAexp20: | 8.90 | |
| MAexp50: | 9.27 | |
| MAexp100: | 9.62 | |
| Price / MA7: | -7.42% | |
| Price / MA20: | -19.09% | |
| Price / MA50: | -4.01% | |
| Price / MA100: | -1.34% | |
| Price / MAexp7: | +1.14% | |
| Price / MAexp20: | -0.45% | |
| Price / MAexp50: | -4.42% | |
| Price / MAexp100: | -7.90% |
Quotes :
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Real time data
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Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
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