AVALANCHE - AVAX/USD - 1H - Technical analysis published on 05/01/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
72%
0%
28%
My opinion
Bearish under 33.68 USD
My targets
31.85 USD (-2.54%)
29.36 USD (-10.16%)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 33.68 USD remains possible. It is advisable to trade AVALANCHE - AVAX/USD with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 33.68 USD. The next bearish objective for sellers is set at 31.85 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 29.36 USD. In case of crossing, the next objective would be the support located at 22.87 USD. PS: if there is a bullish break in the resistance located at 33.68 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
0.2
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Additional analysis
Quotes
The AVALANCHE - AVAX/USD price is 32.68 USD. On the day, this instrument lost -0.03% and was traded between 30.58 USD and 33.95 USD over the period. The price is currently at +6.87% from its lowest and -3.74% from its highest.30.58
33.95
32.68
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of AVALANCHE - AVAX/USD indicates that the overall trend is bearish. The signals given by moving averages are 71.43% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 13 technical indicators on 18 studied are currently bullish. Central Indicators, the detector scanner for these technical indicators recently detected a signal:
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
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 | 22.87 | 29.36 | 31.85 | 32.68 | 33.68 | 35.88 | 38.01 |
| Change (%) | -30.02% | -10.16% | -2.54% | - | +3.06% | +9.79% | +16.31% |
| Change | -9.81 | -3.32 | -0.83 | - | +1.00 | +3.20 | +5.33 |
| Level | Minor | Major | 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 | 27.24 | 29.54 | 31.12 | 33.42 | 35.00 | 37.30 | 38.88 |
| Camarilla | 31.62 | 31.98 | 32.33 | 32.69 | 33.05 | 33.40 | 33.76 |
| Woodie | 26.87 | 29.36 | 30.75 | 33.24 | 34.63 | 37.12 | 38.51 |
| Fibonacci | 29.54 | 31.03 | 31.94 | 33.42 | 34.91 | 35.82 | 37.30 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 25.00 | 29.08 | 31.76 | 35.84 | 38.52 | 42.60 | 45.28 |
| Camarilla | 32.58 | 33.20 | 33.82 | 34.44 | 35.06 | 35.68 | 36.30 |
| Woodie | 24.30 | 28.73 | 31.06 | 35.49 | 37.82 | 42.25 | 44.58 |
| Fibonacci | 29.08 | 31.66 | 33.26 | 35.84 | 38.42 | 40.02 | 42.60 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -1.42 | 14.00 | 23.34 | 38.76 | 48.10 | 63.52 | 72.86 |
| Camarilla | 25.88 | 28.15 | 30.42 | 32.69 | 34.96 | 37.23 | 39.50 |
| Woodie | -4.45 | 12.48 | 20.31 | 37.24 | 45.07 | 62.00 | 69.83 |
| Fibonacci | 14.00 | 23.46 | 29.30 | 38.76 | 48.22 | 54.06 | 63.52 |
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): | 51.69 | |
| MACD (12,26,9): | -0.0300 | |
| Directional Movement: | 8.33 | |
| AROON (14): | 71.43 | |
| DEMA (21): | 32.29 | |
| Parabolic SAR (0,02-0,02-0,2): | 31.47 | |
| Elder Ray (13): | 0.21 | |
| Super Trend (3,10): | 31.02 | |
| Zig ZAG (10): | 32.67 | |
| VORTEX (21): | 1.0200 | |
| Stochastique (14,3,5): | 58.95 | |
| TEMA (21): | 32.59 | |
| Williams %R (14): | -36.80 | |
| Chande Momentum Oscillator (20): | 1.47 | |
| Repulse (5,40,3): | 0.2300 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0900 | |
| Courbe Coppock: | 4.31 |
| MA7: | 34.15 | |
| MA20: | 35.60 | |
| MA50: | 45.69 | |
| MA100: | 42.17 | |
| MAexp7: | 32.57 | |
| MAexp20: | 32.43 | |
| MAexp50: | 32.85 | |
| MAexp100: | 33.54 | |
| Price / MA7: | -4.30% | |
| Price / MA20: | -8.20% | |
| Price / MA50: | -28.47% | |
| Price / MA100: | -22.50% | |
| Price / MAexp7: | +0.34% | |
| Price / MAexp20: | +0.77% | |
| Price / MAexp50: | -0.52% | |
| Price / MAexp100: | -2.56% |
Quotes :
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Real time data
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This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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