CHAINLINK - LINK/USD - Daily - Technical analysis published on 08/03/2020 (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
72%
6%
22%
My opinion
Bullish above 7.24 USD
My targets
9.61 USD (+13.45%)
11.41 USD (+34.69%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on CHAINLINK - LINK/USD as long as the price remains well above 7.24 USD. The buyers” bullish objective is set at 9.61 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 11.41 USD. If there is any crossing, the next objective would be the resistance located at 13.95 USD. 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
8.2
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This analysis was given by lokisynz1. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CHAINLINK - LINK/USD rating is 8.47 USD. On the day, this instrument gained +2.30% with the lowest point at 8.15 USD and the highest point at 8.50 USD. The deviation from the price is +3.93% for the low point and -0.35% for the high point.8.15
8.50
8.47
The Central Gaps scanner detects a bullish opening. A small advantage for buyers 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 HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of CHAINLINK - LINK/USD indicates that the overall trend is strongly bullish. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being 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, 13 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator: bearish divergence
Type : Bearish
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Horizontal resistance is broken
Type : Bullish
Timeframe : Daily
From the Japanese candlestick perspective, the Central Candlesticks scanner notes the presence of these results that could impact the short-term trend:
Bearish harami
Type : Bearish
Timeframe : Daily
Doji
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
Price
| S3 | S2 | Price | S1 | |
|---|---|---|---|---|
| ProTrendLines | 7.24 | 7.91 | 8.47 | 8.47 |
| Change (%) | -14.52% | -6.61% | - | 0% |
| Change | -1.23 | -0.56 | - | 0 |
| Level | Minor | Intermediate | - | Major |
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 | 5.64 | 6.36 | 7.32 | 8.05 | 9.01 | 9.74 | 10.70 |
| Camarilla | 7.82 | 7.98 | 8.13 | 8.29 | 8.44 | 8.59 | 8.75 |
| Woodie | 5.75 | 6.42 | 7.44 | 8.11 | 9.13 | 9.80 | 10.82 |
| Fibonacci | 6.36 | 7.01 | 7.40 | 8.05 | 8.69 | 9.09 | 9.74 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.16 | 5.85 | 7.09 | 7.78 | 9.02 | 9.71 | 10.94 |
| Camarilla | 7.79 | 7.97 | 8.15 | 8.32 | 8.50 | 8.68 | 8.85 |
| Woodie | 5.43 | 5.99 | 7.36 | 7.92 | 9.29 | 9.84 | 11.21 |
| Fibonacci | 5.85 | 6.59 | 7.04 | 7.78 | 8.52 | 8.97 | 9.71 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.93 | 2.72 | 5.27 | 7.07 | 9.61 | 11.41 | 13.95 |
| Camarilla | 6.62 | 7.02 | 7.41 | 7.81 | 8.21 | 8.61 | 9.01 |
| Woodie | 1.30 | 2.91 | 5.64 | 7.25 | 9.98 | 11.59 | 14.32 |
| Fibonacci | 2.72 | 4.38 | 5.41 | 7.07 | 8.72 | 9.75 | 11.41 |
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): | 66.24 | |
| MACD (12,26,9): | 0.5300 | |
| Directional Movement: | 6.09 | |
| AROON (14): | 42.86 | |
| DEMA (21): | 8.24 | |
| Parabolic SAR (0,02-0,02-0,2): | 6.67 | |
| Elder Ray (13): | 0.56 | |
| Super Trend (3,10): | 6.41 | |
| Zig ZAG (10): | 8.47 | |
| VORTEX (21): | 1.0600 | |
| Stochastique (14,3,5): | 85.56 | |
| TEMA (21): | 8.21 | |
| Williams %R (14): | -13.67 | |
| Chande Momentum Oscillator (20): | 0.99 | |
| Repulse (5,40,3): | 13.5400 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 1.2400 | |
| Courbe Coppock: | 3.56 |
| MA7: | 7.81 | |
| MA20: | 7.79 | |
| MA50: | 6.08 | |
| MA100: | 5.02 | |
| MAexp7: | 7.99 | |
| MAexp20: | 7.50 | |
| MAexp50: | 6.46 | |
| MAexp100: | 5.45 | |
| Price / MA7: | +8.45% | |
| Price / MA20: | +8.73% | |
| Price / MA50: | +39.31% | |
| Price / MA100: | +68.73% | |
| Price / MAexp7: | +6.01% | |
| Price / MAexp20: | +12.93% | |
| Price / MAexp50: | +31.11% | |
| Price / MAexp100: | +55.41% |
Quotes :
2020-08-03 08:37:56
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Real time data
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