GATECHAIN TOKEN - GT/USD - Daily - Technical analysis published on 12/03/2022 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Strongly bearish
Technical indicators
56%
17%
28%
My opinion
Bearish under 3.97 USD
My targets
3.38 USD (-6.63%)
2.59 USD (-28.45%)
My analysis
The basic trend is very bearish on GATECHAIN TOKEN - GT/USD but buyers need to catch their breath in the short term. In a case like this, you could favour trades in the direction of the trend on GATECHAIN TOKEN - GT/USD. As long as you stay below the resistance 3.97 USD, sellers' retain the upper hand. A break in the support at 3.38 USD would be a signal that the basic trend will reverse. Sellers would then use the next support located at 2.59 USD as an objective. Crossing it would then enable sellers to target 0.63 USD. If the price were to depress the resistance 3.97 USD in the short term, this would be a sign of possible consolidation in the short term, but against the trend trading would then perhaps be more risky. On the other hand, we could expect signals of a reversal of the trend.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
3
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GATECHAIN TOKEN - GT/USD rating 3.62 USD. The price is lower by -0.28% since the last closing and was between 3.62 USD and 3.65 USD. This implies that the price is at 0% from its lowest and at -0.82% from its highest.3.62
3.65
3.62
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 GATECHAIN TOKEN - GT/USD in Daily shows a overall strongly bearish trend. 82.14% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the strongly bearish trend is showing signs of running out of steam. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The technical indicators are bullish. There is still some doubt about the price increase.
The Central Indicators scanner specialised in technical indicators, has not detected anything further.
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near horizontal support
Type : Bullish
Timeframe : Daily
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Black gravestone / inverted hammer
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 2.59 | 3.38 | 3.60 | 3.62 | 3.97 | 4.37 | 5.11 |
| Change (%) | -28.45% | -6.63% | -0.55% | - | +9.67% | +20.72% | +41.16% |
| Change | -1.03 | -0.24 | -0.02 | - | +0.35 | +0.75 | +1.49 |
| Level | Intermediate | Minor | Intermediate | - | Intermediate | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.57 | 3.58 | 3.60 | 3.61 | 3.63 | 3.64 | 3.66 |
| Camarilla | 3.61 | 3.62 | 3.62 | 3.62 | 3.62 | 3.63 | 3.63 |
| Woodie | 3.58 | 3.58 | 3.61 | 3.61 | 3.64 | 3.64 | 3.67 |
| Fibonacci | 3.58 | 3.59 | 3.60 | 3.61 | 3.62 | 3.63 | 3.64 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.96 | 3.15 | 3.40 | 3.59 | 3.84 | 4.03 | 4.28 |
| Camarilla | 3.53 | 3.57 | 3.61 | 3.65 | 3.69 | 3.73 | 3.77 |
| Woodie | 2.99 | 3.17 | 3.43 | 3.61 | 3.87 | 4.05 | 4.31 |
| Fibonacci | 3.15 | 3.32 | 3.42 | 3.59 | 3.76 | 3.86 | 4.03 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.47 | 2.41 | 3.02 | 3.96 | 4.57 | 5.51 | 6.12 |
| Camarilla | 3.21 | 3.36 | 3.50 | 3.64 | 3.78 | 3.92 | 4.07 |
| Woodie | 1.32 | 2.33 | 2.87 | 3.88 | 4.42 | 5.43 | 5.97 |
| Fibonacci | 2.41 | 3.00 | 3.37 | 3.96 | 4.55 | 4.92 | 5.51 |
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): | 41.67 | |
| MACD (12,26,9): | -0.1300 | |
| Directional Movement: | -11.93 | |
| AROON (14): | 28.57 | |
| DEMA (21): | 3.51 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.40 | |
| Elder Ray (13): | -0.01 | |
| Super Trend (3,10): | 3.96 | |
| Zig ZAG (10): | 3.62 | |
| VORTEX (21): | 0.9900 | |
| Stochastique (14,3,5): | 62.42 | |
| TEMA (21): | 3.52 | |
| Williams %R (14): | -36.82 | |
| Chande Momentum Oscillator (20): | 0.24 | |
| Repulse (5,40,3): | -0.5300 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.6400 | |
| Courbe Coppock: | 2.08 |
| MA7: | 3.62 | |
| MA20: | 3.61 | |
| MA50: | 4.09 | |
| MA100: | 4.18 | |
| MAexp7: | 3.62 | |
| MAexp20: | 3.70 | |
| MAexp50: | 3.94 | |
| MAexp100: | 4.17 | |
| Price / MA7: | -0% | |
| Price / MA20: | +0.28% | |
| Price / MA50: | -11.49% | |
| Price / MA100: | -13.40% | |
| Price / MAexp7: | -0% | |
| Price / MAexp20: | -2.16% | |
| Price / MAexp50: | -8.12% | |
| Price / MAexp100: | -13.19% |
Quotes :
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Real time data
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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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