THORCHAIN - RUNE/USDT - 1H - Technical analysis published on 08/20/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
72%
6%
22%
My opinion
Bullish above 1.82 USDT
My targets
1.95 USDT (+6.61%)
2.03 USDT (+10.93%)
My analysis
The bullish trend is currently very strong on THORCHAIN - RUNE/USDT. As long as the price remains above the support at 1.82 USDT, you could try to benefit from the boom. The first bullish objective is located at 1.95 USDT. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 2.03 USDT as an objective. Crossing it would then enable buyers to target 3.47 USDT. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.2
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Additional analysis
Quotes
The THORCHAIN - RUNE/USDT price is 1.83 USDT. On the day, this instrument gained +5.78% and was between 1.72 USDT and 1.86 USDT. This implies that the price is at +6.40% from its lowest and at -1.61% from its highest.1.72
1.86
1.83
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Abnormal volumes on THORCHAIN - RUNE/USDT were detected by the Central Volumes scanner:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Technical
Technical analysis of THORCHAIN - RUNE/USDT in 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
Central Indicators, the detector scanner for these technical indicators recently detected a signal:
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Near resistance of triangle
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.63 | 1.69 | 1.82 | 1.83 | 1.95 | 3.47 | 12.37 |
| Change (%) | -11.04% | -7.43% | -0.60% | - | +6.61% | +89.87% | +575.96% |
| Change | -0.20 | -0.14 | -0.01 | - | +0.12 | +1.64 | +10.54 |
| Level | Intermediate | Major | Intermediate | - | Minor | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.00 | 1.24 | 1.48 | 1.72 | 1.96 | 2.20 | 2.44 |
| Camarilla | 1.60 | 1.64 | 1.69 | 1.73 | 1.77 | 1.82 | 1.86 |
| Woodie | 1.01 | 1.24 | 1.49 | 1.72 | 1.97 | 2.20 | 2.45 |
| Fibonacci | 1.24 | 1.42 | 1.53 | 1.72 | 1.90 | 2.01 | 2.20 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.67 | 0.97 | 1.35 | 1.65 | 2.03 | 2.33 | 2.71 |
| Camarilla | 1.54 | 1.61 | 1.67 | 1.73 | 1.79 | 1.86 | 1.92 |
| Woodie | 0.71 | 0.99 | 1.39 | 1.67 | 2.07 | 2.35 | 2.75 |
| Fibonacci | 0.97 | 1.23 | 1.39 | 1.65 | 1.91 | 2.07 | 2.33 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.68 | 0.80 | 0.87 | 0.99 | 1.06 | 1.18 | 1.25 |
| Camarilla | 0.89 | 0.91 | 0.92 | 0.94 | 0.96 | 0.98 | 0.99 |
| Woodie | 0.66 | 0.79 | 0.85 | 0.98 | 1.04 | 1.17 | 1.23 |
| Fibonacci | 0.80 | 0.87 | 0.92 | 0.99 | 1.06 | 1.11 | 1.18 |
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): | 63.19 | |
| MACD (12,26,9): | 0.0400 | |
| Directional Movement: | 29.54 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 1.84 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.69 | |
| Elder Ray (13): | 0.03 | |
| Super Trend (3,10): | 1.74 | |
| Zig ZAG (10): | 1.83 | |
| VORTEX (21): | 1.1900 | |
| Stochastique (14,3,5): | 77.25 | |
| TEMA (21): | 1.84 | |
| Williams %R (14): | -27.03 | |
| Chande Momentum Oscillator (20): | 0.09 | |
| Repulse (5,40,3): | -0.0100 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.3400 | |
| Courbe Coppock: | 9.66 |
| MA7: | 1.59 | |
| MA20: | 1.23 | |
| MA50: | 1.09 | |
| MA100: | 1.07 | |
| MAexp7: | 1.82 | |
| MAexp20: | 1.78 | |
| MAexp50: | 1.70 | |
| MAexp100: | 1.62 | |
| Price / MA7: | +15.09% | |
| Price / MA20: | +48.78% | |
| Price / MA50: | +67.89% | |
| Price / MA100: | +71.03% | |
| Price / MAexp7: | +0.55% | |
| Price / MAexp20: | +2.81% | |
| Price / MAexp50: | +7.65% | |
| Price / MAexp100: | +12.96% |
Quotes :
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Real time data
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