THORCHAIN - RUNE/USDT - Daily - Technical analysis published on 07/29/2021 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
61%
6%
33%
My opinion
Bearish under 6.39 USDT
My targets
4.01 USDT (-24.57%)
3.52 USDT (-33.83%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on THORCHAIN - RUNE/USDT. As long as you are under the resistance located at 6.39 USDT, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 4.01 USDT would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 3.52 USDT as an objective. Crossing it would then enable sellers to target 1.65 USDT. If the resistance 6.39 USDT were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
1.4
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Additional analysis
Quotes
The THORCHAIN - RUNE/USDT price is 5.32 USDT. On the day, this instrument gained +14.41% and was traded between 4.57 USDT and 5.88 USDT over the period. The price is currently at +16.41% from its lowest and -9.52% from its highest.4.57
5.88
5.32
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
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:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of this Daily chart of THORCHAIN - RUNE/USDT indicates that the overall trend is bearish. 75.00% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : Daily
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : Daily
An assessment of technical indicators shows a moderate bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
RSI indicator is back over 50
Type : Bullish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S2
S1
R1
R2
R3
Price
| S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 1.65 | 3.52 | 5.32 | 7.10 | 11.34 | 16.56 |
| Change (%) | -68.98% | -33.83% | - | +33.46% | +113.16% | +211.28% |
| Change | -3.67 | -1.80 | - | +1.78 | +6.02 | +11.24 |
| Level | Minor | Major | - | Minor | Minor | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.16 | 3.51 | 4.08 | 4.43 | 5.00 | 5.35 | 5.92 |
| Camarilla | 4.40 | 4.48 | 4.57 | 4.65 | 4.73 | 4.82 | 4.90 |
| Woodie | 3.27 | 3.57 | 4.19 | 4.49 | 5.11 | 5.41 | 6.03 |
| Fibonacci | 3.51 | 3.86 | 4.08 | 4.43 | 4.78 | 5.00 | 5.35 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.02 | 2.02 | 2.81 | 3.81 | 4.60 | 5.60 | 6.39 |
| Camarilla | 3.10 | 3.26 | 3.43 | 3.59 | 3.75 | 3.92 | 4.08 |
| Woodie | 0.91 | 1.97 | 2.70 | 3.76 | 4.49 | 5.55 | 6.28 |
| Fibonacci | 2.02 | 2.71 | 3.13 | 3.81 | 4.50 | 4.92 | 5.60 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -1.99 | 1.26 | 4.01 | 7.26 | 10.01 | 13.26 | 16.01 |
| Camarilla | 5.12 | 5.67 | 6.22 | 6.77 | 7.32 | 7.87 | 8.42 |
| Woodie | -2.23 | 1.14 | 3.77 | 7.14 | 9.77 | 13.14 | 15.77 |
| Fibonacci | 1.26 | 3.55 | 4.97 | 7.26 | 9.55 | 10.97 | 13.26 |
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): | 54.94 | |
| MACD (12,26,9): | -0.5600 | |
| Directional Movement: | 11.40 | |
| AROON (14): | -35.71 | |
| DEMA (21): | 3.82 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.06 | |
| Elder Ray (13): | 0.69 | |
| Super Trend (3,10): | 5.79 | |
| Zig ZAG (10): | 5.60 | |
| VORTEX (21): | 0.9100 | |
| Stochastique (14,3,5): | 62.63 | |
| TEMA (21): | 4.15 | |
| Williams %R (14): | -2.08 | |
| Chande Momentum Oscillator (20): | 1.47 | |
| Repulse (5,40,3): | 39.3800 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -1.9200 | |
| Courbe Coppock: | 35.27 |
| MA7: | 4.16 | |
| MA20: | 4.58 | |
| MA50: | 6.00 | |
| MA100: | 10.00 | |
| MAexp7: | 4.46 | |
| MAexp20: | 4.68 | |
| MAexp50: | 6.25 | |
| MAexp100: | 7.62 | |
| Price / MA7: | +27.88% | |
| Price / MA20: | +16.16% | |
| Price / MA50: | -11.33% | |
| Price / MA100: | -46.80% | |
| Price / MAexp7: | +19.28% | |
| Price / MAexp20: | +13.68% | |
| Price / MAexp50: | -14.88% | |
| Price / MAexp100: | -30.18% |
Quotes :
-
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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