EGOLD - EGLD/USDT

- USDT (-)

- Real time data - Cryptocompare

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Type:	Cryptocurrencies
Ticker:	EGLDUSDT
ISIN:

EGOLD - EGLD/USDT - Daily - Technical analysis published on 09/10/2023 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

17%

56%

28%

My opinion

Bearish under 27.96 USDT

My targets

22.74 USDT (-4.83%)

19.31 USDT (-19.16%)

My analysis

The bearish trend is currently very strong for EGOLD - EGLD/USDT. As long as the price remains below the resistance at 27.96 USDT, you could try to take advantage of the bearish rally. The first bearish objective is located at 22.74 USDT. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 19.31 USDT as an objective. Crossing it would then enable sellers to target 14.09 USDT. 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 confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.

Force

7.3

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by finacian. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

EGOLD - EGLD/USDT rating 23.89 USDT. On the day, this instrument lost -2.33% and was traded between 23.49 USDT and 24.45 USDT over the period. The price is currently at +1.70% from its lowest and -2.29% from its highest.

23.49

24.45

23.89

The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Bullish opening

Type : Bullish

Timeframe : Openning

Bearish opening

Type : Bearish

Timeframe : Openning

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The study of the highest / lowest by the Central Records scanner shows the following results:

New LOW record (1 year)

Type : Bearish

Timeframe : Weekly

New LOW record (1st january)

Type : Bearish

Timeframe : Weekly

New LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of this Daily chart of EGOLD - EGLD/USDT indicates that the overall trend is strongly bearish. 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.

The probability of a further decline is moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

RSI indicator is oversold : under 30

Type : Neutral

Timeframe : Daily

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : Daily

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : Daily

Central Indicators, the detector scanner for these technical indicators recently detected a signal:

Pivot points : price is under support 3

Type : Neutral

Timeframe : Daily

The analysis of the price chart with Central Patterns scanners does not return any result.

For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:

Bearish engulfing lines

Type : Bearish

Timeframe : Daily

ProTrendLines

Price

	Price	R1	R2	R3
ProTrendLines	23.89	29.42	37.12	44.01
Change (%)	-	+23.15%	+55.38%	+84.22%
Change	-	+5.53	+13.23	+20.12
Level	-	Minor	Intermediate	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	24.07	24.25	24.36	24.54	24.65	24.83	24.94
Camarilla	24.38	24.41	24.43	24.46	24.49	24.51	24.54
Woodie	24.03	24.23	24.32	24.52	24.61	24.81	24.90
Fibonacci	24.25	24.36	24.43	24.54	24.65	24.72	24.83

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	22.54	23.31	23.88	24.65	25.22	25.99	26.56
Camarilla	24.09	24.21	24.34	24.46	24.58	24.71	24.83
Woodie	22.45	23.26	23.79	24.60	25.13	25.94	26.47
Fibonacci	23.31	23.82	24.14	24.65	25.16	25.48	25.99

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	14.09	19.31	22.74	27.96	31.39	36.61	40.04
Camarilla	23.78	24.57	25.37	26.16	26.95	27.75	28.54
Woodie	13.19	18.86	21.84	27.51	30.49	36.16	39.14
Fibonacci	19.31	22.62	24.66	27.96	31.27	33.31	36.61

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):	26.08
MACD (12,26,9):	-1.2100
Directional Movement:	-26.66
AROON (14):	-71.43
DEMA (21):	23.87
Parabolic SAR (0,02-0,02-0,2):	26.26
Elder Ray (13):	-1.02
Super Trend (3,10):	26.54
Zig ZAG (10):	23.93
VORTEX (21):	0.8000
Stochastique (14,3,5):	14.70
TEMA (21):	23.97
Williams %R (14):	-87.20
Chande Momentum Oscillator (20):	-2.35
Repulse (5,40,3):	-2.7500
ROCnROLL:	2
TRIX (15,9):	-0.7000
Courbe Coppock:	9.79

MA7:	24.61
MA20:	25.26
MA50:	28.56
MA100:	31.27
MAexp7:	24.56
MAexp20:	25.58
MAexp50:	28.05
MAexp100:	30.83
Price / MA7:	-2.93%
Price / MA20:	-5.42%
Price / MA50:	-16.35%
Price / MA100:	-23.60%
Price / MAexp7:	-2.73%
Price / MAexp20:	-6.61%
Price / MAexp50:	-14.83%
Price / MAexp100:	-22.51%

Quotes : - Real time data - Cryptocompare

This member declared not having a position on this financial instrument or a related financial instrument.

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