CHAINLINK - LINK/USD - 1H - Technical analysis published on 09/07/2020 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Court terme:
Bearish
De fond:
Bearish
Technical indicators
22%
50%
28%
My opinion
Bearish under 12.55 USD
My targets
11.41 USD (-4.76%)
8.47 USD (-29.30%)
My analysis
All elements being rather bearish, it would be possible for traders to trade only short positions (for sale) on CHAINLINK - LINK/USD as long as the price remains well below 12.55 USD. The next bearish objective for sellers is set at 11.41 USD. A bearish break of this support would revive the bearish momentum. Sellers could then target the next support located at 8.47 USD. If there is any crossing, the next objective would be the support located at 7.13 USD. Be careful, the short term currently seems to be losing momentum. Its reversal would lead to mitigation of the, bearish, basic trend. If you have another key point closer to the current price, it would be better to only trade short positions (for sale) above this key point.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
4.8
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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
CHAINLINK - LINK/USD rating 11.98 USD. On the day, this instrument lost -6.33% and was traded between 11.22 USD and 13.16 USD over the period. The price is currently at +6.77% from its lowest and -8.97% from its highest.11.22
13.16
11.98
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
Technical analysis of CHAINLINK - LINK/USD in 1H shows an overall bearish trend. 75.00% of the signals given by moving averages are bearish. This bearish trend is slowing down slightly given the slightly bearish signals given by short-term moving averages. An assessment of moving averages reveals several bearish signals that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 100
Type : Bearish
Timeframe : 1 hour
On the 18 technical indicators analysed, 4 are bullish, 5 are neutral and 9 are bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
SuperTrend indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
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 | 7.13 | 8.47 | 11.41 | 11.98 | 13.83 | 15.22 | 16.47 |
| Change (%) | -40.48% | -29.30% | -4.76% | - | +15.44% | +27.05% | +37.48% |
| Change | -4.85 | -3.51 | -0.57 | - | +1.85 | +3.24 | +4.49 |
| Level | Minor | Minor | Intermediate | - | Major | 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 | 7.00 | 8.38 | 10.59 | 11.97 | 14.18 | 15.56 | 17.77 |
| Camarilla | 11.80 | 12.13 | 12.46 | 12.79 | 13.12 | 13.45 | 13.78 |
| Woodie | 7.40 | 8.59 | 10.99 | 12.18 | 14.59 | 15.77 | 18.18 |
| Fibonacci | 8.38 | 9.75 | 10.60 | 11.97 | 13.35 | 14.19 | 15.56 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -1.10 | 4.09 | 7.35 | 12.55 | 15.81 | 21.00 | 24.26 |
| Camarilla | 8.29 | 9.06 | 9.84 | 10.61 | 11.39 | 12.16 | 12.94 |
| Woodie | -2.07 | 3.61 | 6.38 | 12.06 | 14.84 | 20.52 | 23.29 |
| Fibonacci | 4.09 | 7.32 | 9.32 | 12.55 | 15.78 | 17.77 | 21.00 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -4.46 | 1.32 | 8.46 | 14.23 | 21.37 | 27.14 | 34.28 |
| Camarilla | 12.05 | 13.23 | 14.42 | 15.60 | 16.78 | 17.97 | 19.15 |
| Woodie | -3.77 | 1.66 | 9.14 | 14.57 | 22.06 | 27.49 | 34.97 |
| Fibonacci | 1.32 | 6.25 | 9.30 | 14.23 | 19.16 | 22.21 | 27.14 |
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): | 35.96 | |
| MACD (12,26,9): | 0.0100 | |
| Directional Movement: | -11.58 | |
| AROON (14): | -85.71 | |
| DEMA (21): | 12.31 | |
| Parabolic SAR (0,02-0,02-0,2): | 12.75 | |
| Elder Ray (13): | -0.53 | |
| Super Trend (3,10): | 13.17 | |
| Zig ZAG (10): | 11.38 | |
| VORTEX (21): | 0.9400 | |
| Stochastique (14,3,5): | 13.61 | |
| TEMA (21): | 12.25 | |
| Williams %R (14): | -81.44 | |
| Chande Momentum Oscillator (20): | -1.33 | |
| Repulse (5,40,3): | -6.1900 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.2500 | |
| Courbe Coppock: | 8.41 |
| MA7: | 12.89 | |
| MA20: | 14.48 | |
| MA50: | 12.39 | |
| MA100: | 8.74 | |
| MAexp7: | 11.98 | |
| MAexp20: | 12.22 | |
| MAexp50: | 12.13 | |
| MAexp100: | 12.57 | |
| Price / MA7: | -7.06% | |
| Price / MA20: | -17.27% | |
| Price / MA50: | -3.31% | |
| Price / MA100: | +37.07% | |
| Price / MAexp7: | -0% | |
| Price / MAexp20: | -1.96% | |
| Price / MAexp50: | -1.24% | |
| Price / MAexp100: | -4.69% |
Quotes :
2020-09-07 13:36:31
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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.
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