COMPOUND GOVERNANCE TOKEN - COMP/USD - 1H - Technical analysis published on 06/21/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
50%
28%
My opinion
Bearish under 49.74 USD
My targets
47.77 USD (-1.89%)
44.88 USD (-7.83%)
My analysis
The bearish trend is currently very strong for COMPOUND GOVERNANCE TOKEN - COMP/USD. As long as the price remains below the resistance at 49.74 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 47.77 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 44.88 USD as an objective. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
6.3
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
COMPOUND GOVERNANCE TOKEN - COMP/USD rating 48.69 USD. The price is lower by -0.14% since the last closing with the lowest point at 48.16 USD and the highest point at 49.97 USD. The deviation from the price is +1.10% for the low point and -2.56% for the high point.48.16
49.97
48.69
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:
Technical
Technical analysis of this 1H chart of COMPOUND GOVERNANCE TOKEN - COMP/USD indicates that the overall trend is strongly bearish. 85.71% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 4 are bullish, 5 are neutral and 9 are bearish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Three black crows
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 44.88 | 47.77 | 48.56 | 48.69 | 49.74 | 51.57 | 54.26 |
| Change (%) | -7.83% | -1.89% | -0.27% | - | +2.16% | +5.91% | +11.44% |
| Change | -3.81 | -0.92 | -0.13 | - | +1.05 | +2.88 | +5.57 |
| Level | Major | Major | Minor | - | Intermediate | Major | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 45.56 | 47.06 | 47.91 | 49.41 | 50.26 | 51.76 | 52.61 |
| Camarilla | 48.11 | 48.33 | 48.55 | 48.76 | 48.98 | 49.19 | 49.41 |
| Woodie | 45.24 | 46.90 | 47.59 | 49.25 | 49.94 | 51.60 | 52.29 |
| Fibonacci | 47.06 | 47.96 | 48.51 | 49.41 | 50.31 | 50.86 | 51.76 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 45.11 | 47.44 | 50.55 | 52.88 | 55.99 | 58.32 | 61.43 |
| Camarilla | 52.17 | 52.67 | 53.17 | 53.67 | 54.17 | 54.67 | 55.17 |
| Woodie | 45.51 | 47.64 | 50.95 | 53.08 | 56.39 | 58.52 | 61.83 |
| Fibonacci | 47.44 | 49.52 | 50.80 | 52.88 | 54.96 | 56.24 | 58.32 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 38.31 | 45.18 | 52.15 | 59.02 | 65.99 | 72.86 | 79.83 |
| Camarilla | 55.30 | 56.57 | 57.84 | 59.11 | 60.38 | 61.65 | 62.92 |
| Woodie | 38.35 | 45.21 | 52.19 | 59.05 | 66.03 | 72.89 | 79.87 |
| Fibonacci | 45.18 | 50.47 | 53.74 | 59.02 | 64.31 | 67.58 | 72.86 |
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): | 43.25 | |
| MACD (12,26,9): | -0.1200 | |
| Directional Movement: | -15.03 | |
| AROON (14): | 42.86 | |
| DEMA (21): | 49.00 | |
| Parabolic SAR (0,02-0,02-0,2): | 48.40 | |
| Elder Ray (13): | -0.24 | |
| Super Trend (3,10): | 48.25 | |
| Zig ZAG (10): | 48.75 | |
| VORTEX (21): | 1.0200 | |
| Stochastique (14,3,5): | 39.78 | |
| TEMA (21): | 48.97 | |
| Williams %R (14): | -67.40 | |
| Chande Momentum Oscillator (20): | -0.82 | |
| Repulse (5,40,3): | -0.7100 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0300 | |
| Courbe Coppock: | 0.85 |
| MA7: | 50.54 | |
| MA20: | 53.87 | |
| MA50: | 56.42 | |
| MA100: | 61.70 | |
| MAexp7: | 49.00 | |
| MAexp20: | 49.16 | |
| MAexp50: | 49.35 | |
| MAexp100: | 49.70 | |
| Price / MA7: | -3.66% | |
| Price / MA20: | -9.62% | |
| Price / MA50: | -13.70% | |
| Price / MA100: | -21.09% | |
| Price / MAexp7: | -0.63% | |
| Price / MAexp20: | -0.96% | |
| Price / MAexp50: | -1.34% | |
| Price / MAexp100: | -2.03% |
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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