SYNTHETIX - SNX/USD - 1H - Technical analysis published on 10/20/2022 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
67%
17%
17%
My opinion
Bullish above 2.34 USD
My targets
2.40 USD (+0.84%)
2.45 USD (+2.94%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on SYNTHETIX - SNX/USD as long as the price remains well above 2.34 USD. The buyers' bullish objective is set at 2.40 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 2.45 USD. If there is any crossing, the next objective would be the resistance located at 3.03 USD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
6.4
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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 SYNTHETIX - SNX/USD rating is 2.38 USD. On the day, this instrument gained +4.39% with the lowest point at 2.25 USD and the highest point at 2.39 USD. The deviation from the price is +5.78% for the low point and -0.42% for the high point.2.25
2.39
2.38
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
A technical analysis in 1H of this SYNTHETIX - SNX/USD chart shows a strongly bullish trend. The signals given by moving averages are 82.14% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish trend reversal : Moving Average 50
Type : Bullish
Timeframe : 1 hour
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
The probability of a further increase are moderate given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 2.05 | 2.12 | 2.34 | 2.38 | 2.40 | 2.45 | 3.03 |
| Change (%) | -13.87% | -10.92% | -1.68% | - | +0.84% | +2.94% | +27.31% |
| Change | -0.33 | -0.26 | -0.04 | - | +0.02 | +0.07 | +0.65 |
| Level | Major | Minor | Major | - | Minor | Minor | Intermediate |
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 | 2.02 | 2.14 | 2.21 | 2.33 | 2.40 | 2.52 | 2.59 |
| Camarilla | 2.23 | 2.25 | 2.26 | 2.28 | 2.30 | 2.32 | 2.33 |
| Woodie | 2.00 | 2.13 | 2.19 | 2.32 | 2.38 | 2.51 | 2.57 |
| Fibonacci | 2.14 | 2.21 | 2.26 | 2.33 | 2.40 | 2.45 | 2.52 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.44 | 1.65 | 1.86 | 2.07 | 2.28 | 2.49 | 2.70 |
| Camarilla | 1.95 | 1.98 | 2.02 | 2.06 | 2.10 | 2.14 | 2.18 |
| Woodie | 1.43 | 1.65 | 1.85 | 2.07 | 2.27 | 2.49 | 2.69 |
| Fibonacci | 1.65 | 1.81 | 1.91 | 2.07 | 2.23 | 2.33 | 2.49 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.84 | 1.50 | 1.94 | 2.60 | 3.04 | 3.70 | 4.14 |
| Camarilla | 2.08 | 2.18 | 2.28 | 2.38 | 2.48 | 2.58 | 2.68 |
| Woodie | 0.73 | 1.45 | 1.83 | 2.55 | 2.93 | 3.65 | 4.03 |
| Fibonacci | 1.50 | 1.92 | 2.18 | 2.60 | 3.02 | 3.28 | 3.70 |
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): | 55.36 | |
| MACD (12,26,9): | -0.0100 | |
| Directional Movement: | 9.38 | |
| AROON (14): | -57.14 | |
| DEMA (21): | 2.32 | |
| Parabolic SAR (0,02-0,02-0,2): | 2.25 | |
| Elder Ray (13): | 0.03 | |
| Super Trend (3,10): | 2.38 | |
| Zig ZAG (10): | 2.37 | |
| VORTEX (21): | 1.0300 | |
| Stochastique (14,3,5): | 53.33 | |
| TEMA (21): | 2.32 | |
| Williams %R (14): | -13.33 | |
| Chande Momentum Oscillator (20): | 0.01 | |
| Repulse (5,40,3): | 4.2000 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0400 | |
| Courbe Coppock: | 5.69 |
| MA7: | 2.25 | |
| MA20: | 2.24 | |
| MA50: | 2.50 | |
| MA100: | 2.93 | |
| MAexp7: | 2.33 | |
| MAexp20: | 2.33 | |
| MAexp50: | 2.33 | |
| MAexp100: | 2.29 | |
| Price / MA7: | +5.78% | |
| Price / MA20: | +6.25% | |
| Price / MA50: | -4.80% | |
| Price / MA100: | -18.77% | |
| Price / MAexp7: | +2.15% | |
| Price / MAexp20: | +2.15% | |
| Price / MAexp50: | +2.15% | |
| Price / MAexp100: | +3.93% |
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.
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