EGOLD - EGLD/USD - 1H - Technical analysis published on 07/20/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
11%
67%
22%
My opinion
Bearish under 36.45 USD
My targets
35.15 USD (-1.95%)
34.82 USD (-2.87%)
My analysis
EGOLD - EGLD/USD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 36.45 USD. The next support located at 35.15 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 34.82 USD. Below this support, sellers could then target 33.44 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
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
7.9
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EGOLD - EGLD/USD rating is 35.85 USD. The price registered a decrease of -0.06% on the session and was between 35.47 USD and 36.06 USD. This implies that the price is at +1.07% from its lowest and at -0.58% from its highest.35.47
36.06
35.85
A study of price movements over other periods shows the following variations:
Technical
A technical analysis in 1H of this EGOLD - EGLD/USD chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 12 technical indicators on 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects these signals that could have an impact on the current short-term trend:
Bullish harami
Type : Bullish
Timeframe : 1 hour
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 34.82 | 35.15 | 35.67 | 35.85 | 36.45 | 37.53 | 38.03 |
| Change (%) | -2.87% | -1.95% | -0.50% | - | +1.67% | +4.69% | +6.08% |
| Change | -1.03 | -0.70 | -0.18 | - | +0.60 | +1.68 | +2.18 |
| Level | Intermediate | Minor | Intermediate | - | Minor | Minor | Intermediate |
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 | 34.73 | 35.26 | 35.57 | 36.10 | 36.41 | 36.94 | 37.25 |
| Camarilla | 35.64 | 35.72 | 35.79 | 35.87 | 35.95 | 36.02 | 36.10 |
| Woodie | 34.61 | 35.21 | 35.45 | 36.05 | 36.29 | 36.89 | 37.13 |
| Fibonacci | 35.26 | 35.58 | 35.78 | 36.10 | 36.42 | 36.62 | 36.94 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 29.95 | 31.85 | 34.25 | 36.15 | 38.55 | 40.45 | 42.85 |
| Camarilla | 35.48 | 35.87 | 36.27 | 36.66 | 37.05 | 37.45 | 37.84 |
| Woodie | 30.21 | 31.98 | 34.51 | 36.28 | 38.81 | 40.58 | 43.11 |
| Fibonacci | 31.85 | 33.49 | 34.50 | 36.15 | 37.79 | 38.80 | 40.45 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18.23 | 23.22 | 29.03 | 34.02 | 39.83 | 44.82 | 50.63 |
| Camarilla | 31.87 | 32.86 | 33.85 | 34.84 | 35.83 | 36.82 | 37.81 |
| Woodie | 18.64 | 23.43 | 29.44 | 34.23 | 40.24 | 45.03 | 51.04 |
| Fibonacci | 23.22 | 27.35 | 29.89 | 34.02 | 38.15 | 40.69 | 44.82 |
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): | 37.43 | |
| MACD (12,26,9): | -0.1600 | |
| Directional Movement: | -19.80 | |
| AROON (14): | -71.43 | |
| DEMA (21): | 35.76 | |
| Parabolic SAR (0,02-0,02-0,2): | 36.10 | |
| Elder Ray (13): | -0.31 | |
| Super Trend (3,10): | 36.23 | |
| Zig ZAG (10): | 35.66 | |
| VORTEX (21): | 0.9100 | |
| Stochastique (14,3,5): | 9.83 | |
| TEMA (21): | 35.72 | |
| Williams %R (14): | -80.61 | |
| Chande Momentum Oscillator (20): | -0.64 | |
| Repulse (5,40,3): | -0.4800 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0400 | |
| Courbe Coppock: | 2.20 |
| MA7: | 36.40 | |
| MA20: | 35.57 | |
| MA50: | 34.16 | |
| MA100: | 36.64 | |
| MAexp7: | 35.78 | |
| MAexp20: | 35.95 | |
| MAexp50: | 36.19 | |
| MAexp100: | 36.36 | |
| Price / MA7: | -1.51% | |
| Price / MA20: | +0.79% | |
| Price / MA50: | +4.95% | |
| Price / MA100: | -2.16% | |
| Price / MAexp7: | +0.20% | |
| Price / MAexp20: | -0.28% | |
| Price / MAexp50: | -0.94% | |
| Price / MAexp100: | -1.40% |
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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