ENZYME - MLN/USD - 1H - Technical analysis published on 11/14/2023 (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
17%
39%
44%
My opinion
Bearish under 16.59 USD
My targets
15.80 USD (-2.59%)
14.87 USD (-8.32%)
My analysis
The bearish trend is currently very strong for ENZYME - MLN/USD. As long as the price remains below the resistance at 16.59 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 15.80 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 14.87 USD as an objective. Crossing it would then enable sellers to target 13.02 USD. 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.
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
6.8
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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 ENZYME - MLN/USD price is 16.22 USD. On the day, this instrument lost -0.67% with the lowest point at 15.86 USD and the highest point at 17.01 USD. The deviation from the price is +2.27% for the low point and -4.64% for the high point.15.86
17.01
16.22
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
The Central Volumes scanner notes the presence of abnormal volumes:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
A technical analysis in 1H of this ENZYME - MLN/USD chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, according to the parameters integrated into the Central Analyzer system, only 7 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 : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish harami
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 13.02 | 14.87 | 15.80 | 16.22 | 16.24 | 16.59 | 17.03 |
| Change (%) | -19.73% | -8.32% | -2.59% | - | +0.12% | +2.28% | +4.99% |
| Change | -3.20 | -1.35 | -0.42 | - | +0.02 | +0.37 | +0.81 |
| Level | Minor | Intermediate | Intermediate | - | Major | Major | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 14.67 | 15.50 | 15.91 | 16.74 | 17.15 | 17.98 | 18.39 |
| Camarilla | 15.99 | 16.10 | 16.22 | 16.33 | 16.44 | 16.56 | 16.67 |
| Woodie | 14.47 | 15.40 | 15.71 | 16.64 | 16.95 | 17.88 | 18.19 |
| Fibonacci | 15.50 | 15.97 | 16.26 | 16.74 | 17.21 | 17.50 | 17.98 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 14.55 | 15.17 | 16.10 | 16.72 | 17.65 | 18.27 | 19.20 |
| Camarilla | 16.60 | 16.75 | 16.89 | 17.03 | 17.17 | 17.31 | 17.46 |
| Woodie | 14.71 | 15.25 | 16.26 | 16.80 | 17.81 | 18.35 | 19.36 |
| Fibonacci | 15.17 | 15.76 | 16.13 | 16.72 | 17.31 | 17.68 | 18.27 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.51 | 11.07 | 13.62 | 16.18 | 18.73 | 21.29 | 23.84 |
| Camarilla | 14.76 | 15.22 | 15.69 | 16.16 | 16.63 | 17.10 | 17.57 |
| Woodie | 8.50 | 11.07 | 13.61 | 16.18 | 18.72 | 21.29 | 23.83 |
| Fibonacci | 11.07 | 13.03 | 14.23 | 16.18 | 18.14 | 19.34 | 21.29 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 42.28 | |
| MACD (12,26,9): | -0.1600 | |
| Directional Movement: | 5.01 | |
| AROON (14): | -7.14 | |
| DEMA (21): | 16.13 | |
| Parabolic SAR (0,02-0,02-0,2): | 16.99 | |
| Elder Ray (13): | -0.12 | |
| Super Trend (3,10): | 16.82 | |
| Zig ZAG (10): | 16.13 | |
| VORTEX (21): | 0.9800 | |
| Stochastique (14,3,5): | 22.29 | |
| TEMA (21): | 16.11 | |
| Williams %R (14): | -76.25 | |
| Chande Momentum Oscillator (20): | -0.36 | |
| Repulse (5,40,3): | -1.2900 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1300 | |
| Courbe Coppock: | 3.54 |
| MA7: | 16.61 | |
| MA20: | 16.16 | |
| MA50: | 15.58 | |
| MA100: | 15.52 | |
| MAexp7: | 16.19 | |
| MAexp20: | 16.34 | |
| MAexp50: | 16.59 | |
| MAexp100: | 16.68 | |
| Price / MA7: | -2.35% | |
| Price / MA20: | +0.37% | |
| Price / MA50: | +4.11% | |
| Price / MA100: | +4.51% | |
| Price / MAexp7: | +0.19% | |
| Price / MAexp20: | -0.73% | |
| Price / MAexp50: | -2.23% | |
| Price / MAexp100: | -2.76% |
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.
About author
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