COMPOUND - COMP/USD - 1H - Technical analysis published on 11/02/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
39%
44%
My opinion
Bearish under 43.29 USD
My targets
41.77 USD (-1.32%)
41.09 USD (-2.93%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on COMPOUND GOVERNANCE TOKEN - COMP/USD as long as the price remains well below 43.29 USD. The sellers' bearish objective is set at 41.77 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 41.09 USD. In case of crossing, the next objective would be the support located at 39.86 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
6.8
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The COMPOUND GOVERNANCE TOKEN - COMP/USD price is 42.33 USD. The price registered a decrease of -0.05% on the session with the lowest point at 42.29 USD and the highest point at 42.49 USD. The deviation from the price is +0.09% for the low point and -0.38% for the high point.42.29
42.49
42.33
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
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of COMPOUND GOVERNANCE TOKEN - COMP/USD in 1H shows a overall strongly 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, only 7 technical indicators out of 18 analysed are currently bearish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near support of channel
Type : Bullish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact 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 | 39.86 | 41.09 | 41.77 | 42.33 | 42.38 | 43.29 | 44.23 |
| Change (%) | -5.84% | -2.93% | -1.32% | - | +0.12% | +2.27% | +4.49% |
| Change | -2.47 | -1.24 | -0.56 | - | +0.05 | +0.96 | +1.90 |
| Level | Minor | Intermediate | Intermediate | - | Minor | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 40.10 | 40.92 | 41.64 | 42.46 | 43.18 | 44.00 | 44.72 |
| Camarilla | 41.93 | 42.07 | 42.21 | 42.35 | 42.49 | 42.63 | 42.77 |
| Woodie | 40.04 | 40.90 | 41.58 | 42.44 | 43.12 | 43.98 | 44.66 |
| Fibonacci | 40.92 | 41.51 | 41.88 | 42.46 | 43.05 | 43.42 | 44.00 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 31.37 | 35.62 | 38.80 | 43.05 | 46.23 | 50.48 | 53.66 |
| Camarilla | 39.95 | 40.63 | 41.31 | 41.99 | 42.67 | 43.35 | 44.03 |
| Woodie | 30.85 | 35.35 | 38.28 | 42.78 | 45.71 | 50.21 | 53.14 |
| Fibonacci | 35.62 | 38.46 | 40.21 | 43.05 | 45.89 | 47.64 | 50.48 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 30.91 | 35.38 | 39.18 | 43.65 | 47.45 | 51.92 | 55.72 |
| Camarilla | 40.70 | 41.45 | 42.21 | 42.97 | 43.73 | 44.49 | 45.24 |
| Woodie | 30.57 | 35.21 | 38.84 | 43.48 | 47.11 | 51.75 | 55.38 |
| Fibonacci | 35.38 | 38.54 | 40.49 | 43.65 | 46.81 | 48.76 | 51.92 |
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): | 43.52 | |
| MACD (12,26,9): | -0.1700 | |
| Directional Movement: | -13.86 | |
| AROON (14): | -7.14 | |
| DEMA (21): | 42.29 | |
| Parabolic SAR (0,02-0,02-0,2): | 42.96 | |
| Elder Ray (13): | -0.05 | |
| Super Trend (3,10): | 43.14 | |
| Zig ZAG (10): | 42.41 | |
| VORTEX (21): | 0.9900 | |
| Stochastique (14,3,5): | 45.49 | |
| TEMA (21): | 42.36 | |
| Williams %R (14): | -49.23 | |
| Chande Momentum Oscillator (20): | -0.43 | |
| Repulse (5,40,3): | 0.0500 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0700 | |
| Courbe Coppock: | 1.70 |
| MA7: | 43.36 | |
| MA20: | 44.17 | |
| MA50: | 44.80 | |
| MA100: | 44.97 | |
| MAexp7: | 42.41 | |
| MAexp20: | 42.54 | |
| MAexp50: | 42.96 | |
| MAexp100: | 43.28 | |
| Price / MA7: | -2.38% | |
| Price / MA20: | -4.17% | |
| Price / MA50: | -5.51% | |
| Price / MA100: | -5.87% | |
| Price / MAexp7: | -0.19% | |
| Price / MAexp20: | -0.49% | |
| Price / MAexp50: | -1.47% | |
| Price / MAexp100: | -2.20% |
Quotes :
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Real time data
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