CONFLUX NETWORK - CFX/USDT - 1H - Technical analysis published on 03/20/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Slightly bullish
Technical indicators
17%
72%
11%
My opinion
Bearish under 0.409713 USDT
My targets
0.365700 USDT (-7.67%)
0.329100 USDT (-16.91%)
My analysis
The strong short-term decline in CONFLUX NETWORK - CFX/USDT calls into question the currently slightly bullish basic trend. A trend reversal is likely. As long as the price remains below the resistance located at 0.409713 USDT, one could consider taking advantage of the short-term movement. The first bearish objective is located at 0.365700 USDT. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 0.329100 USDT as an objective. Crossing it would then enable sellers to target 0.276238 USDT. Be careful, a return to above 0.409713 USDT could jeopardize the reversal.
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
2.1
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Additional analysis
Quotes
CONFLUX NETWORK - CFX/USDT rating 0.396100 USDT. On the day, this instrument lost -12.95% and was between 0.391600 USDT and 0.462700 USDT. This implies that the price is at +1.15% from its lowest and at -14.39% from its highest.0.391600
0.462700
0.396100
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Abnormal volumes on CONFLUX NETWORK - CFX/USDT were detected by the Central Volumes scanner:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
A technical analysis in 1H of this CONFLUX NETWORK - CFX/USDT chart shows a slightly bullish trend. 57.14% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently given by short-term moving averages indicate that a trend reversal may be taking place. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further decline is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
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
MACD indicator is back under 0
Type : Bearish
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
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 0.276238 | 0.329100 | 0.365700 | 0.396100 |
| Change (%) | -30.26% | -16.91% | -7.67% | - |
| Change | -0.119862 | -0.067000 | -0.030400 | - |
| Level | Major | Intermediate | Intermediate | - |
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 | 0.277867 | 0.325533 | 0.390267 | 0.437933 | 0.502667 | 0.550333 | 0.615067 |
| Camarilla | 0.424090 | 0.434393 | 0.444697 | 0.455000 | 0.465303 | 0.475607 | 0.485910 |
| Woodie | 0.286400 | 0.329800 | 0.398800 | 0.442200 | 0.511200 | 0.554600 | 0.623600 |
| Fibonacci | 0.325533 | 0.368470 | 0.394997 | 0.437933 | 0.480870 | 0.507397 | 0.550333 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -0.093300 | 0.023800 | 0.200100 | 0.317200 | 0.493500 | 0.610600 | 0.786900 |
| Camarilla | 0.295715 | 0.322610 | 0.349505 | 0.376400 | 0.403295 | 0.430190 | 0.457085 |
| Woodie | -0.063700 | 0.038600 | 0.229700 | 0.332000 | 0.523100 | 0.625400 | 0.816500 |
| Fibonacci | 0.023800 | 0.135879 | 0.205121 | 0.317200 | 0.429279 | 0.498521 | 0.610600 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -0.224567 | -0.087953 | 0.092573 | 0.229187 | 0.409713 | 0.546327 | 0.726853 |
| Camarilla | 0.185887 | 0.214958 | 0.244029 | 0.273100 | 0.302171 | 0.331242 | 0.360314 |
| Woodie | -0.202610 | -0.076975 | 0.114530 | 0.240165 | 0.431670 | 0.557305 | 0.748810 |
| Fibonacci | -0.087953 | 0.033194 | 0.108039 | 0.229187 | 0.350334 | 0.425179 | 0.546327 |
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): | 38.90 | |
| MACD (12,26,9): | -0.0027 | |
| Directional Movement: | -11.628107 | |
| AROON (14): | -57.142857 | |
| DEMA (21): | 0.430578 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.450988 | |
| Elder Ray (13): | -0.022311 | |
| Super Trend (3,10): | 0.453599 | |
| Zig ZAG (10): | 0.407600 | |
| VORTEX (21): | 0.8484 | |
| Stochastique (14,3,5): | 6.77 | |
| TEMA (21): | 0.418505 | |
| Williams %R (14): | -96.17 | |
| Chande Momentum Oscillator (20): | -0.040800 | |
| Repulse (5,40,3): | -8.8010 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.1502 | |
| Courbe Coppock: | 9.40 |
| MA7: | 0.355457 | |
| MA20: | 0.253300 | |
| MA50: | 0.161023 | |
| MA100: | 0.092950 | |
| MAexp7: | 0.417092 | |
| MAexp20: | 0.430227 | |
| MAexp50: | 0.418236 | |
| MAexp100: | 0.385316 | |
| Price / MA7: | +11.43% | |
| Price / MA20: | +56.38% | |
| Price / MA50: | +145.99% | |
| Price / MA100: | +326.14% | |
| Price / MAexp7: | -5.03% | |
| Price / MAexp20: | -7.93% | |
| Price / MAexp50: | -5.29% | |
| Price / MAexp100: | +2.80% |
Quotes :
-
Real time data
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Cryptocompare
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