INTERNET COMPUTER - ICP/USD - Daily - Technical analysis published on 09/05/2023 (GMT)
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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%
50%
33%
My opinion
Bearish under 3.59 USD
My targets
2.90 USD (-12.74%)
2.45 USD (-26.11%)
My analysis
INTERNET COMPUTER - ICP/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 3.59 USD. The next support located at 2.90 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 2.45 USD. Below this support, sellers could then target 1.76 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
7.1
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
INTERNET COMPUTER - ICP/USD rating 3.32 USD. On the day, this instrument gained +1.84% and was between 3.27 USD and 3.32 USD. This implies that the price is at +1.53% from its lowest and at 0% from its highest.3.27
3.32
3.32
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (5 years)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of INTERNET COMPUTER - ICP/USD 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 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, only 9 technical indicators out of 18 analysed are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
MACD indicator: bullish divergence
Type : Bullish
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
R1
R2
R3
Price
| Price | R1 | R2 | R3 | |
|---|---|---|---|---|
| ProTrendLines | 3.32 | 3.86 | 4.75 | 5.23 |
| Change (%) | - | +16.27% | +43.07% | +57.53% |
| Change | - | +0.54 | +1.43 | +1.91 |
| Level | - | 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 | 3.04 | 3.11 | 3.19 | 3.26 | 3.34 | 3.41 | 3.49 |
| Camarilla | 3.22 | 3.23 | 3.25 | 3.26 | 3.27 | 3.29 | 3.30 |
| Woodie | 3.04 | 3.11 | 3.19 | 3.26 | 3.34 | 3.41 | 3.49 |
| Fibonacci | 3.11 | 3.17 | 3.21 | 3.26 | 3.32 | 3.36 | 3.41 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.48 | 2.83 | 3.04 | 3.39 | 3.60 | 3.95 | 4.16 |
| Camarilla | 3.10 | 3.15 | 3.20 | 3.25 | 3.30 | 3.35 | 3.40 |
| Woodie | 2.41 | 2.80 | 2.97 | 3.36 | 3.53 | 3.92 | 4.09 |
| Fibonacci | 2.83 | 3.04 | 3.18 | 3.39 | 3.60 | 3.74 | 3.95 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.76 | 2.45 | 2.90 | 3.59 | 4.04 | 4.73 | 5.18 |
| Camarilla | 3.03 | 3.13 | 3.24 | 3.34 | 3.45 | 3.55 | 3.65 |
| Woodie | 1.63 | 2.39 | 2.77 | 3.53 | 3.91 | 4.67 | 5.05 |
| Fibonacci | 2.45 | 2.89 | 3.16 | 3.59 | 4.03 | 4.30 | 4.73 |
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): | 35.77 | |
| MACD (12,26,9): | -0.1600 | |
| Directional Movement: | -7.89 | |
| AROON (14): | -21.43 | |
| DEMA (21): | 3.27 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.70 | |
| Elder Ray (13): | -0.12 | |
| Super Trend (3,10): | 3.75 | |
| Zig ZAG (10): | 3.30 | |
| VORTEX (21): | 0.9000 | |
| Stochastique (14,3,5): | 16.07 | |
| TEMA (21): | 3.22 | |
| Williams %R (14): | -80.36 | |
| Chande Momentum Oscillator (20): | -0.32 | |
| Repulse (5,40,3): | -0.7000 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.6100 | |
| Courbe Coppock: | 12.72 |
| MA7: | 3.30 | |
| MA20: | 3.45 | |
| MA50: | 3.83 | |
| MA100: | 4.02 | |
| MAexp7: | 3.32 | |
| MAexp20: | 3.48 | |
| MAexp50: | 3.75 | |
| MAexp100: | 4.07 | |
| Price / MA7: | +0.61% | |
| Price / MA20: | -3.77% | |
| Price / MA50: | -13.32% | |
| Price / MA100: | -17.41% | |
| Price / MAexp7: | -0% | |
| Price / MAexp20: | -4.60% | |
| Price / MAexp50: | -11.47% | |
| Price / MAexp100: | -18.43% |
Quotes :
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Real time data
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Cryptocompare
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