SYNTHETIX - SNX/USDT - 1H - Technical analysis published on 03/10/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
61%
0%
39%
My opinion
Bearish under 2.36 USDT
My targets
2.10 USDT (-7.08%)
2.06 USDT (-8.85%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on SYNTHETIX - SNX/USDT. As long as you are under the resistance located at 2.36 USDT, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 2.10 USDT would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 2.06 USDT as an objective. Crossing it would then enable sellers to target 1.52 USDT. If the resistance 2.36 USDT were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
2
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Additional analysis
Quotes
The SYNTHETIX - SNX/USDT price is 2.26 USDT. On the day, this instrument lost -4.64% with the lowest point at 2.10 USDT and the highest point at 2.37 USDT. The deviation from the price is +7.62% for the low point and -4.64% for the high point.2.10
2.37
2.26
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of SYNTHETIX - SNX/USDT in 1H shows an overall bearish trend. The signals given by moving averages are 78.57% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. An assessment of moving averages reveals several bullish signals that could impact this trend:
Moving Average bullish crossovers : AMA20 & AMA50
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
In fact, 11 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 1.52 | 2.06 | 2.26 | 2.27 | 2.36 | 2.61 |
| Change (%) | -32.74% | -8.85% | - | +0.44% | +4.42% | +15.49% |
| Change | -0.74 | -0.20 | - | +0.01 | +0.10 | +0.35 |
| Level | Major | Minor | - | Intermediate | Intermediate | Minor |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.88 | 2.08 | 2.22 | 2.42 | 2.56 | 2.76 | 2.90 |
| Camarilla | 2.28 | 2.31 | 2.34 | 2.37 | 2.40 | 2.43 | 2.46 |
| Woodie | 1.86 | 2.07 | 2.20 | 2.41 | 2.54 | 2.75 | 2.88 |
| Fibonacci | 2.08 | 2.21 | 2.29 | 2.42 | 2.55 | 2.63 | 2.76 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.10 | 2.33 | 2.60 | 2.83 | 3.10 | 3.33 | 3.60 |
| Camarilla | 2.73 | 2.78 | 2.82 | 2.87 | 2.92 | 2.96 | 3.01 |
| Woodie | 2.12 | 2.34 | 2.62 | 2.84 | 3.12 | 3.34 | 3.62 |
| Fibonacci | 2.33 | 2.52 | 2.64 | 2.83 | 3.02 | 3.14 | 3.33 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.26 | 1.73 | 2.09 | 2.56 | 2.92 | 3.39 | 3.75 |
| Camarilla | 2.23 | 2.31 | 2.38 | 2.46 | 2.54 | 2.61 | 2.69 |
| Woodie | 1.22 | 1.70 | 2.05 | 2.53 | 2.88 | 3.36 | 3.71 |
| Fibonacci | 1.73 | 2.04 | 2.24 | 2.56 | 2.87 | 3.07 | 3.39 |
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): | 46.13 | |
| MACD (12,26,9): | -0.0400 | |
| Directional Movement: | -3.18 | |
| AROON (14): | 14.29 | |
| DEMA (21): | 2.16 | |
| Parabolic SAR (0,02-0,02-0,2): | 2.12 | |
| Elder Ray (13): | 0.02 | |
| Super Trend (3,10): | 2.30 | |
| Zig ZAG (10): | 2.24 | |
| VORTEX (21): | 0.9700 | |
| Stochastique (14,3,5): | 78.75 | |
| TEMA (21): | 2.19 | |
| Williams %R (14): | -5.37 | |
| Chande Momentum Oscillator (20): | 0.10 | |
| Repulse (5,40,3): | 2.5600 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.4000 | |
| Courbe Coppock: | 0.70 |
| MA7: | 2.75 | |
| MA20: | 2.69 | |
| MA50: | 2.55 | |
| MA100: | 2.11 | |
| MAexp7: | 2.22 | |
| MAexp20: | 2.23 | |
| MAexp50: | 2.36 | |
| MAexp100: | 2.54 | |
| Price / MA7: | -17.82% | |
| Price / MA20: | -15.99% | |
| Price / MA50: | -11.37% | |
| Price / MA100: | +7.11% | |
| Price / MAexp7: | +1.80% | |
| Price / MAexp20: | +1.35% | |
| Price / MAexp50: | -4.24% | |
| Price / MAexp100: | -11.02% |
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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