HORIZEN - ZEN/USDT - Daily - Technical analysis published on 12/26/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
50%
17%
33%
My opinion
Bullish above 6.03 USDT
My targets
7.15 USDT (+11.02%)
7.40 USDT (+14.94%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on HORIZEN - ZEN/USDT as long as the price remains well above 6.03 USDT. The buyers” bullish objective is set at 7.15 USDT. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 7.40 USDT. If there is any crossing, the next objective would be the resistance located at 9.57 USDT. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
FORCE
0
10
6.8
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The HORIZEN - ZEN/USDT price is 6.44 USDT. The price registered a decrease of -5.57% on the session with the lowest point at 6.22 USDT and the highest point at 6.60 USDT. The deviation from the price is +3.54% for the low point and -2.42% for the high point.6.22
6.60
6.44
The Central Gaps scanner detects the formation of a bearish gap marking the strong presence of sellers ahead of buyers at the opening. This formed a quotation gap.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by HORIZEN - ZEN/USDT:
Technical
Technical analysis of this Daily chart of HORIZEN - ZEN/USDT indicates that the overall trend is strongly bullish. 89.29% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish 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, only 9 technical indicators out of 18 studied are currently bullish. Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is under support 3
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Williams %R indicator is back under -50
Type : Bearish
Timeframe : Daily
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
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 | 0.03 | 3.95 | 4.94 | 6.44 | 7.15 | 9.57 | 11.14 |
| Change (%) | -99.53% | -38.66% | -23.29% | - | +11.02% | +48.60% | +72.98% |
| Change | -6.41 | -2.49 | -1.50 | - | +0.71 | +3.13 | +4.70 |
| Level | Intermediate | Major | Major | - | Intermediate | Minor | 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 | 6.62 | 6.66 | 6.74 | 6.78 | 6.86 | 6.90 | 6.98 |
| Camarilla | 6.79 | 6.80 | 6.81 | 6.82 | 6.83 | 6.84 | 6.85 |
| Woodie | 6.64 | 6.67 | 6.76 | 6.79 | 6.88 | 6.91 | 7.00 |
| Fibonacci | 6.66 | 6.71 | 6.73 | 6.78 | 6.83 | 6.85 | 6.90 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.54 | 5.35 | 6.03 | 6.84 | 7.52 | 8.33 | 9.01 |
| Camarilla | 6.30 | 6.44 | 6.57 | 6.71 | 6.85 | 6.98 | 7.12 |
| Woodie | 4.48 | 5.32 | 5.97 | 6.81 | 7.46 | 8.30 | 8.95 |
| Fibonacci | 5.35 | 5.92 | 6.27 | 6.84 | 7.41 | 7.76 | 8.33 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -4.99 | -2.48 | 1.21 | 3.72 | 7.40 | 9.92 | 13.60 |
| Camarilla | 3.19 | 3.75 | 4.32 | 4.89 | 5.46 | 6.03 | 6.59 |
| Woodie | -4.41 | -2.19 | 1.79 | 4.01 | 7.99 | 10.21 | 14.19 |
| Fibonacci | -2.48 | -0.11 | 1.35 | 3.72 | 6.09 | 7.55 | 9.92 |
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): | 61.55 | |
| MACD (12,26,9): | 1.0200 | |
| Directional Movement: | 21.09 | |
| AROON (14): | 14.28 | |
| DEMA (21): | 6.90 | |
| Parabolic SAR (0,02-0,02-0,2): | 4.84 | |
| Elder Ray (13): | 0.22 | |
| Super Trend (3,10): | 4.87 | |
| Zig ZAG (10): | 6.44 | |
| VORTEX (21): | 1.0200 | |
| Stochastique (14,3,5): | 60.80 | |
| TEMA (21): | 7.56 | |
| Williams %R (14): | -62.37 | |
| Chande Momentum Oscillator (20): | 0.11 | |
| Repulse (5,40,3): | 0.3200 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 3.8000 | |
| Courbe Coppock: | 1,533.14 |
| MA7: | 6.77 | |
| MA20: | 5.11 | |
| MA50: | 3.78 | |
| MA100: | 3.85 | |
| MAexp7: | 6.65 | |
| MAexp20: | 5.63 | |
| MAexp50: | 4.54 | |
| MAexp100: | 4.43 | |
| Price / MA7: | -4.87% | |
| Price / MA20: | +26.03% | |
| Price / MA50: | +70.37% | |
| Price / MA100: | +67.27% | |
| Price / MAexp7: | -3.16% | |
| Price / MAexp20: | +14.39% | |
| Price / MAexp50: | +41.85% | |
| Price / MAexp100: | +45.37% |
This member declared not having a position on this financial instrument or a related financial instrument.
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