BALANCER - BAL/USD - 1H - Technical analysis published on 08/12/2022 (GMT)
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- Timeframe : 1H
- - Analysis generated on
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Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 7.65 USD
My targets
8.64 USD (+11.59%)
10.34 USD (+33.63%)
My analysis
The basic bullish trend is very strong on BALANCER - BAL/USD but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 7.65 USD. Crossing the first resistance at 8.64 USD would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 10.34 USD as an objective. Crossing it would then enable buyers to target 10.57 USD. Caution, a return to below 7.65 USD would be a sign of a consolidation phase in 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.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.4
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
BALANCER - BAL/USD rating 7.74 USD. The price has increased by +21.89% since the last closing with the lowest point at 6.25 USD and the highest point at 9.61 USD. The deviation from the price is +23.84% for the low point and -19.46% for the high point.6.25
9.61
7.74
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of BALANCER - BAL/USD indicates that the overall trend is strongly bullish. 85.71% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages indicate this trend is showing signs of running out of steam. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 90
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Weekly
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Horizontal resistance 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 | 6.38 | 6.56 | 7.65 | 7.74 | 10.57 | 15.81 | 20.18 |
| Change (%) | -17.57% | -15.25% | -1.16% | - | +36.56% | +104.26% | +160.72% |
| Change | -1.36 | -1.18 | -0.09 | - | +2.83 | +8.07 | +12.44 |
| Level | Major | Intermediate | Minor | - | Minor | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.92 | 6.10 | 6.23 | 6.41 | 6.54 | 6.72 | 6.85 |
| Camarilla | 6.27 | 6.29 | 6.32 | 6.35 | 6.38 | 6.41 | 6.44 |
| Woodie | 5.89 | 6.09 | 6.20 | 6.40 | 6.51 | 6.71 | 6.82 |
| Fibonacci | 6.10 | 6.22 | 6.30 | 6.41 | 6.53 | 6.61 | 6.72 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.80 | 5.27 | 5.71 | 6.18 | 6.62 | 7.09 | 7.53 |
| Camarilla | 5.91 | 5.99 | 6.08 | 6.16 | 6.24 | 6.33 | 6.41 |
| Woodie | 4.80 | 5.26 | 5.71 | 6.17 | 6.62 | 7.08 | 7.53 |
| Fibonacci | 5.27 | 5.61 | 5.83 | 6.18 | 6.52 | 6.74 | 7.09 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.52 | 2.76 | 4.46 | 5.70 | 7.40 | 8.64 | 10.34 |
| Camarilla | 5.36 | 5.63 | 5.90 | 6.17 | 6.44 | 6.71 | 6.98 |
| Woodie | 1.76 | 2.88 | 4.70 | 5.82 | 7.64 | 8.76 | 10.58 |
| Fibonacci | 2.76 | 3.88 | 4.57 | 5.70 | 6.82 | 7.51 | 8.64 |
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): | 71.64 | |
| MACD (12,26,9): | 0.0400 | |
| Directional Movement: | 21.53 | |
| AROON (14): | 71.43 | |
| DEMA (21): | 6.47 | |
| Parabolic SAR (0,02-0,02-0,2): | 6.34 | |
| Elder Ray (13): | 0.16 | |
| Super Trend (3,10): | 6.39 | |
| Zig ZAG (10): | 6.67 | |
| VORTEX (21): | 1.0900 | |
| Stochastique (14,3,5): | 94.66 | |
| TEMA (21): | 6.51 | |
| Williams %R (14): | 0.00 | |
| Chande Momentum Oscillator (20): | 0.45 | |
| Repulse (5,40,3): | 6.6300 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0500 | |
| Courbe Coppock: | 6.53 |
| MA7: | 6.50 | |
| MA20: | 6.05 | |
| MA50: | 5.42 | |
| MA100: | 6.46 | |
| MAexp7: | 6.96 | |
| MAexp20: | 6.43 | |
| MAexp50: | 6.36 | |
| MAexp100: | 6.30 | |
| Price / MA7: | +19.08% | |
| Price / MA20: | +27.93% | |
| Price / MA50: | +42.80% | |
| Price / MA100: | +19.81% | |
| Price / MAexp7: | +11.21% | |
| Price / MAexp20: | +20.37% | |
| Price / MAexp50: | +21.70% | |
| Price / MAexp100: | +22.86% |
Quotes :
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Real time data
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