CHAINLINK - LINK/USD - 1H - Technical analysis published on 10/06/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
22%
33%
44%
My opinion
Bullish above 11.13 USD
My targets
11.76 USD (+4.63%)
12.30 USD (+9.43%)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 11.13 USD remains possible. It is advisable to trade CHAINLINK - LINK/USD with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 11.13 USD. The next bullish objective for buyers is set at 11.76 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 12.30 USD. If there is any crossing, the next objective would be the resistance located at 12.98 USD. PS: if there is a bearish break in the support located at 11.13 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
1.8
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Additional analysis
Quotes
CHAINLINK - LINK/USD rating 11.24 USD. On the day, this instrument lost -0.09% and was between 11.19 USD and 11.40 USD. This implies that the price is at +0.45% from its lowest and at -1.40% from its highest.11.19
11.40
11.24
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of CHAINLINK - LINK/USD in 1H shows an overall bullish trend. 67.86% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. An assessment of moving averages reveals several bearish signals that could impact this trend:
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 100
Type : Bearish
Timeframe : 1 hour
In fact, of the 18 technical indicators analysed by Central Analyzer, 4 are bullish, 8 are neutral and 6 are bearish. Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
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
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 10.35 | 10.87 | 11.13 | 11.24 | 11.76 | 12.30 | 12.98 |
| Change (%) | -7.92% | -3.29% | -0.98% | - | +4.63% | +9.43% | +15.48% |
| Change | -0.89 | -0.37 | -0.11 | - | +0.52 | +1.06 | +1.74 |
| Level | Intermediate | Minor | Intermediate | - | Minor | Major | 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 | 10.64 | 10.81 | 11.04 | 11.21 | 11.44 | 11.61 | 11.84 |
| Camarilla | 11.15 | 11.19 | 11.22 | 11.26 | 11.30 | 11.33 | 11.37 |
| Woodie | 10.66 | 10.83 | 11.06 | 11.23 | 11.46 | 11.63 | 11.86 |
| Fibonacci | 10.81 | 10.97 | 11.06 | 11.21 | 11.37 | 11.46 | 11.61 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.45 | 8.90 | 10.08 | 11.53 | 12.71 | 14.16 | 15.34 |
| Camarilla | 10.54 | 10.78 | 11.02 | 11.26 | 11.50 | 11.74 | 11.98 |
| Woodie | 7.32 | 8.83 | 9.95 | 11.46 | 12.58 | 14.09 | 15.21 |
| Fibonacci | 8.90 | 9.91 | 10.53 | 11.53 | 12.54 | 13.16 | 14.16 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.08 | 7.68 | 9.77 | 11.37 | 13.46 | 15.06 | 17.15 |
| Camarilla | 10.84 | 11.17 | 11.51 | 11.85 | 12.19 | 12.53 | 12.87 |
| Woodie | 6.32 | 7.80 | 10.01 | 11.49 | 13.70 | 15.18 | 17.39 |
| Fibonacci | 7.68 | 9.09 | 9.96 | 11.37 | 12.78 | 13.65 | 15.06 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 49.38 | |
| MACD (12,26,9): | 0.0200 | |
| Directional Movement: | -2.09 | |
| AROON (14): | 64.29 | |
| DEMA (21): | 11.30 | |
| Parabolic SAR (0,02-0,02-0,2): | 11.18 | |
| Elder Ray (13): | -0.03 | |
| Super Trend (3,10): | 11.12 | |
| Zig ZAG (10): | 11.24 | |
| VORTEX (21): | 0.9700 | |
| Stochastique (14,3,5): | 39.92 | |
| TEMA (21): | 11.28 | |
| Williams %R (14): | -76.19 | |
| Chande Momentum Oscillator (20): | -0.01 | |
| Repulse (5,40,3): | -0.5500 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0400 | |
| Courbe Coppock: | 1.26 |
| MA7: | 11.11 | |
| MA20: | 11.54 | |
| MA50: | 11.12 | |
| MA100: | 11.80 | |
| MAexp7: | 11.27 | |
| MAexp20: | 11.27 | |
| MAexp50: | 11.19 | |
| MAexp100: | 11.21 | |
| Price / MA7: | +1.17% | |
| Price / MA20: | -2.60% | |
| Price / MA50: | +1.08% | |
| Price / MA100: | -4.75% | |
| Price / MAexp7: | -0.27% | |
| Price / MAexp20: | -0.27% | |
| Price / MAexp50: | +0.45% | |
| Price / MAexp100: | +0.27% |
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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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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