THORCHAIN - RUNE/USDT - 1H - Technical analysis published on 08/21/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Slightly bullish
Technical indicators
17%
72%
11%
My opinion
Bearish under 1.69 USDT
My targets
1.63 USDT (-2.51%)
1.55 USDT (-6.95%)
My analysis
The strong short-term decline in THORCHAIN - RUNE/USDT calls into question the currently slightly bullish basic trend. A trend reversal is likely. As long as the price remains below the resistance located at 1.69 USDT, one could consider taking advantage of the short-term movement. The first bearish objective is located at 1.63 USDT. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.55 USDT as an objective. Crossing it would then enable sellers to target 1.47 USDT. Be careful, a return to above 1.69 USDT could jeopardize the reversal.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
2.1
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Additional analysis
Quotes
The THORCHAIN - RUNE/USDT rating is 1.67 USDT. On the day, this instrument lost -5.65% with the lowest point at 1.66 USDT and the highest point at 1.77 USDT. The deviation from the price is +0.60% for the low point and -5.65% for the high point.1.66
1.77
1.67
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by THORCHAIN - RUNE/USDT:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Technical
A technical analysis in 1H of this THORCHAIN - RUNE/USDT chart shows a slightly bullish trend. 57.14% of the signals given by moving averages are bullish. Caution: a reversal of the trend could be possible given the strong bearish signals of short-term moving averages. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish price crossover with adaptative moving average 100
Type : Bearish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, 13 technical indicators out of 18 analysed are currently bearish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
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
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.47 | 1.55 | 1.63 | 1.67 | 1.69 | 1.82 | 1.95 |
| Change (%) | -12.14% | -6.95% | -2.51% | - | +1.44% | +8.92% | +16.83% |
| Change | -0.20 | -0.12 | -0.04 | - | +0.02 | +0.15 | +0.28 |
| Level | Intermediate | Minor | Intermediate | - | Major | 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 | 1.53 | 1.62 | 1.70 | 1.79 | 1.87 | 1.96 | 2.04 |
| Camarilla | 1.72 | 1.74 | 1.75 | 1.77 | 1.79 | 1.80 | 1.82 |
| Woodie | 1.52 | 1.62 | 1.69 | 1.79 | 1.86 | 1.96 | 2.03 |
| Fibonacci | 1.62 | 1.69 | 1.73 | 1.79 | 1.86 | 1.90 | 1.96 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 32.03 | |
| MACD (12,26,9): | -0.0200 | |
| Directional Movement: | -10.09 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 1.73 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.86 | |
| Elder Ray (13): | -0.05 | |
| Super Trend (3,10): | 1.77 | |
| Zig ZAG (10): | 1.67 | |
| VORTEX (21): | 0.9000 | |
| Stochastique (14,3,5): | 2.87 | |
| TEMA (21): | 1.69 | |
| Williams %R (14): | -99.12 | |
| Chande Momentum Oscillator (20): | -0.19 | |
| Repulse (5,40,3): | -3.4100 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 13.93 |
| MA7: | 1.61 | |
| MA20: | 1.26 | |
| MA50: | 1.10 | |
| MA100: | 1.07 | |
| MAexp7: | 1.70 | |
| MAexp20: | 1.74 | |
| MAexp50: | 1.72 | |
| MAexp100: | 1.65 | |
| Price / MA7: | +3.73% | |
| Price / MA20: | +32.54% | |
| Price / MA50: | +51.82% | |
| Price / MA100: | +56.07% | |
| Price / MAexp7: | -1.76% | |
| Price / MAexp20: | -4.02% | |
| Price / MAexp50: | -2.91% | |
| Price / MAexp100: | +1.21% |
Quotes :
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Real time data
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