THORCHAIN - RUNE/USDT - 1H - Technical analysis published on 06/11/2021 (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
39%
28%
33%
My opinion
Bearish under 8.72 USDT
My targets
8.32 USDT (-3.70%)
7.84 USDT (-9.26%)
My analysis
The bearish basic trend is very strong on THORCHAIN - RUNE/USDT but the short term shows some signs of running out of steam. However, a sale could be considered as long as the price remains below 8.72 USDT. Crossing the first support at 8.32 USDT would be a sign of a further potential price plummet. Sellers would then use the next support located at 7.84 USDT as an objective. Crossing it would then enable sellers to target 4.61 USDT. Caution, a return to above the resistance located at 8.72 USDT would be a sign of a possible consolidation phase of the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
4.6
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Additional analysis
Quotes
The THORCHAIN - RUNE/USDT price is 8.64 USDT. The price has increased by +2.01% since the last closing and was traded between 8.19 USDT and 8.69 USDT over the period. The price is currently at +5.49% from its lowest and -0.58% from its highest.8.19
8.69
8.64
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
A study of price movements over other periods shows the following variations:
Abnormal volumes
Timeframe : 5 days
Technical
Technical analysis of THORCHAIN - RUNE/USDT in 1H shows a overall strongly bearish trend. The signals given by moving averages are 85.71% bearish. This strongly bearish trend seems to be slowing down given the slightly bearish signals being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
But beware of excesses. The Central Indicators scanner currently detects this:
MACD indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Horizontal support is broken
Type : Bearish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
Support of triangle is broken
Type : Bearish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Bullish harami
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 4.61 | 7.84 | 8.32 | 8.64 | 9.41 | 10.75 | 11.34 |
| Change (%) | -46.64% | -9.26% | -3.70% | - | +8.91% | +24.42% | +31.25% |
| Change | -4.03 | -0.80 | -0.32 | - | +0.77 | +2.11 | +2.70 |
| Level | Minor | Major | Intermediate | - | Minor | Major | 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 | 6.19 | 7.26 | 7.86 | 8.93 | 9.53 | 10.60 | 11.20 |
| Camarilla | 8.01 | 8.16 | 8.32 | 8.47 | 8.62 | 8.78 | 8.93 |
| Woodie | 5.97 | 7.14 | 7.64 | 8.81 | 9.31 | 10.48 | 10.98 |
| Fibonacci | 7.26 | 7.90 | 8.29 | 8.93 | 9.57 | 9.96 | 10.60 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.34 | 6.83 | 8.72 | 11.21 | 13.10 | 15.59 | 17.48 |
| Camarilla | 9.40 | 9.80 | 10.20 | 10.60 | 11.00 | 11.40 | 11.81 |
| Woodie | 4.03 | 6.68 | 8.41 | 11.06 | 12.79 | 15.44 | 17.17 |
| Fibonacci | 6.83 | 8.51 | 9.54 | 11.21 | 12.89 | 13.92 | 15.59 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -9.87 | -1.94 | 5.36 | 13.29 | 20.59 | 28.52 | 35.82 |
| Camarilla | 8.46 | 9.86 | 11.25 | 12.65 | 14.05 | 15.44 | 16.84 |
| Woodie | -10.20 | -2.10 | 5.04 | 13.13 | 20.27 | 28.36 | 35.50 |
| Fibonacci | -1.94 | 3.88 | 7.48 | 13.29 | 19.11 | 22.71 | 28.52 |
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): | 40.96 | |
| MACD (12,26,9): | -0.2000 | |
| Directional Movement: | -10.48 | |
| AROON (14): | -50.00 | |
| DEMA (21): | 8.37 | |
| Parabolic SAR (0,02-0,02-0,2): | 8.26 | |
| Elder Ray (13): | -0.03 | |
| Super Trend (3,10): | 9.03 | |
| Zig ZAG (10): | 8.50 | |
| VORTEX (21): | 0.8200 | |
| Stochastique (14,3,5): | 46.40 | |
| TEMA (21): | 8.31 | |
| Williams %R (14): | -37.65 | |
| Chande Momentum Oscillator (20): | -0.07 | |
| Repulse (5,40,3): | -0.0100 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.3800 | |
| Courbe Coppock: | 6.93 |
| MA7: | 9.46 | |
| MA20: | 10.85 | |
| MA50: | 13.80 | |
| MA100: | 11.21 | |
| MAexp7: | 8.47 | |
| MAexp20: | 8.66 | |
| MAexp50: | 8.98 | |
| MAexp100: | 9.39 | |
| Price / MA7: | -8.67% | |
| Price / MA20: | -20.37% | |
| Price / MA50: | -37.39% | |
| Price / MA100: | -22.93% | |
| Price / MAexp7: | +2.01% | |
| Price / MAexp20: | -0.23% | |
| Price / MAexp50: | -3.79% | |
| Price / MAexp100: | -7.99% |
Quotes :
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Real time data
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Cryptocompare
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