SOLANA - SOL/USD - 1H - Technical analysis published on 10/10/2024 (GMT)
- 74
- 0
Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
56%
28%
My opinion
Bearish under 138.64 USD
My targets
135.94 USD (-0.85%)
133.14 USD (-2.89%)
My analysis
SOLANA - SOL/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 138.64 USD. The next support located at 135.94 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 133.14 USD. Below this support, sellers could then target 125.34 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, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
7.3
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 OzO. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The SOLANA - SOL/USD price is 137.10 USD. On the day, this instrument lost -1.52% and was traded between 136.09 USD and 140.71 USD over the period. The price is currently at +0.74% from its lowest and -2.57% from its highest.136.09
140.71
137.10
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.
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:
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this SOLANA - SOL/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 scanner does not detect any result on moving averages that would impact this trend.
In fact, according to the parameters integrated into the Central Analyzer system, 10 technical indicators out of 18 analysed are currently bearish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
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 | 125.34 | 133.14 | 135.94 | 137.10 | 138.64 | 142.27 | 145.24 |
| Change (%) | -8.58% | -2.89% | -0.85% | - | +1.12% | +3.77% | +5.94% |
| Change | -11.76 | -3.96 | -1.16 | - | +1.54 | +5.17 | +8.14 |
| Level | Major | Intermediate | Minor | - | Major | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 130.12 | 134.35 | 136.78 | 141.01 | 143.44 | 147.67 | 150.10 |
| Camarilla | 137.38 | 137.99 | 138.60 | 139.21 | 139.82 | 140.43 | 141.04 |
| Woodie | 129.22 | 133.90 | 135.88 | 140.56 | 142.54 | 147.22 | 149.20 |
| Fibonacci | 134.35 | 136.89 | 138.47 | 141.01 | 143.55 | 145.13 | 147.67 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 101.32 | 117.23 | 129.92 | 145.83 | 158.52 | 174.43 | 187.12 |
| Camarilla | 134.75 | 137.37 | 139.99 | 142.61 | 145.23 | 147.85 | 150.48 |
| Woodie | 99.71 | 116.43 | 128.31 | 145.03 | 156.91 | 173.63 | 185.51 |
| Fibonacci | 117.23 | 128.16 | 134.91 | 145.83 | 156.76 | 163.51 | 174.43 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 87.06 | 103.82 | 128.21 | 144.97 | 169.36 | 186.12 | 210.51 |
| Camarilla | 141.27 | 145.05 | 148.82 | 152.59 | 156.36 | 160.13 | 163.91 |
| Woodie | 90.87 | 105.73 | 132.02 | 146.88 | 173.17 | 188.03 | 214.32 |
| Fibonacci | 103.82 | 119.54 | 129.25 | 144.97 | 160.69 | 170.40 | 186.12 |
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): | 35.16 | |
| MACD (12,26,9): | -0.9800 | |
| Directional Movement: | -19.95 | |
| AROON (14): | -64.29 | |
| DEMA (21): | 138.02 | |
| Parabolic SAR (0,02-0,02-0,2): | 140.48 | |
| Elder Ray (13): | -1.62 | |
| Super Trend (3,10): | 141.43 | |
| Zig ZAG (10): | 137.64 | |
| VORTEX (21): | 0.9000 | |
| Stochastique (14,3,5): | 29.43 | |
| TEMA (21): | 137.98 | |
| Williams %R (14): | -67.10 | |
| Chande Momentum Oscillator (20): | -2.10 | |
| Repulse (5,40,3): | -0.4500 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0900 | |
| Courbe Coppock: | 1.34 |
| MA7: | 142.35 | |
| MA20: | 146.95 | |
| MA50: | 141.75 | |
| MA100: | 147.69 | |
| MAexp7: | 138.34 | |
| MAexp20: | 139.27 | |
| MAexp50: | 140.95 | |
| MAexp100: | 142.46 | |
| Price / MA7: | -3.69% | |
| Price / MA20: | -6.70% | |
| Price / MA50: | -3.28% | |
| Price / MA100: | -7.17% | |
| Price / MAexp7: | -0.90% | |
| Price / MAexp20: | -1.56% | |
| Price / MAexp50: | -2.73% | |
| Price / MAexp100: | -3.76% |
Quotes :
-
Real time data
-
Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
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…
Add a comment
Comments
0 comments on the analysis SOLANA - SOL/USD - 1H