CHAINLINK - LINK/USD - 1H - Technical analysis published on 01/24/2020 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
17%
61%
22%
My opinion
Bearish under 2.51 USD
My targets
2.42 USD (-0.82%)
2.29 USD (-6.15%)
My analysis
The bearish trend is currently very strong for CHAINLINK - LINK/USD. As long as the price remains below the resistance at 2.51 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 2.42 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 2.29 USD as an objective. Crossing it would then enable sellers to target 2.07 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
7.5
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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 CHAINLINK - LINK/USD price is 2.44 USD. The price registered a decrease of -7.22% on the session with the lowest point at 2.42 USD and the highest point at 2.65 USD. The deviation from the price is +0.83% for the low point and -7.92% for the high point.2.42
2.65
2.44
A study of price movements over other periods shows the following variations:
Technical
A technical analysis in 1H of this CHAINLINK - LINK/USD chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, 11 technical indicators out of 18 analysed are currently bearish. The Central Indicators scanner found no further results concerning independent technical indicators.
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Near support of triangle
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
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 | 2.07 | 2.29 | 2.42 | 2.44 | 2.51 | 2.68 | 2.77 |
| Change (%) | -15.16% | -6.15% | -0.82% | - | +2.87% | +9.84% | +13.52% |
| Change | -0.37 | -0.15 | -0.02 | - | +0.07 | +0.24 | +0.33 |
| Level | Intermediate | Minor | Intermediate | - | Major | Minor | 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 | 2.53 | 2.57 | 2.60 | 2.64 | 2.68 | 2.72 | 2.75 |
| Camarilla | 2.61 | 2.62 | 2.63 | 2.64 | 2.64 | 2.65 | 2.66 |
| Woodie | 2.52 | 2.57 | 2.60 | 2.64 | 2.67 | 2.72 | 2.75 |
| Fibonacci | 2.57 | 2.60 | 2.62 | 2.64 | 2.67 | 2.69 | 2.72 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.63 | 1.89 | 2.33 | 2.59 | 3.03 | 3.29 | 3.73 |
| Camarilla | 2.58 | 2.64 | 2.71 | 2.77 | 2.83 | 2.90 | 2.96 |
| Woodie | 1.72 | 1.94 | 2.42 | 2.64 | 3.12 | 3.34 | 3.82 |
| Fibonacci | 1.89 | 2.16 | 2.33 | 2.59 | 2.86 | 3.03 | 3.29 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.83 | 1.23 | 1.50 | 1.90 | 2.16 | 2.56 | 2.83 |
| Camarilla | 1.58 | 1.64 | 1.70 | 1.76 | 1.82 | 1.88 | 1.94 |
| Woodie | 0.76 | 1.20 | 1.43 | 1.86 | 2.09 | 2.53 | 2.76 |
| Fibonacci | 1.23 | 1.49 | 1.64 | 1.90 | 2.15 | 2.31 | 2.56 |
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): | 29.22 | |
| MACD (12,26,9): | -0.0500 | |
| Directional Movement: | -27.43 | |
| AROON (14): | -71.43 | |
| DEMA (21): | 2.45 | |
| Parabolic SAR (0,02-0,02-0,2): | 2.48 | |
| Elder Ray (13): | -0.05 | |
| Super Trend (3,10): | 2.54 | |
| Zig ZAG (10): | 2.44 | |
| VORTEX (21): | 0.7300 | |
| Stochastique (14,3,5): | 13.48 | |
| TEMA (21): | 2.42 | |
| Williams %R (14): | -86.27 | |
| Chande Momentum Oscillator (20): | -0.14 | |
| Repulse (5,40,3): | -0.4000 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.2500 | |
| Courbe Coppock: | 12.23 |
| MA7: | 2.65 | |
| MA20: | 2.34 | |
| MA50: | 2.10 | |
| MA100: | 2.34 | |
| MAexp7: | 2.46 | |
| MAexp20: | 2.52 | |
| MAexp50: | 2.58 | |
| MAexp100: | 2.61 | |
| Price / MA7: | -7.92% | |
| Price / MA20: | +4.27% | |
| Price / MA50: | +16.19% | |
| Price / MA100: | +4.27% | |
| Price / MAexp7: | -0.81% | |
| Price / MAexp20: | -3.17% | |
| Price / MAexp50: | -5.43% | |
| Price / MAexp100: | -6.51% |
This member declared not having a position on this financial instrument or a related financial instrument.
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