SYNTHETIX - SNX/USD - 1H - Technical analysis published on 09/04/2023 (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 bullish
Underlying:
Strongly bullish
Technical indicators
89%
6%
6%
My opinion
Bullish above 2.07 USD
My targets
2.15 USD (+1.42%)
2.20 USD (+3.77%)
My analysis
SYNTHETIX - SNX/USD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 2.07 USD. The next resistance located at 2.15 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 2.20 USD. After this resistance, buyers could then target 2.59 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.8
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Additional analysis
Quotes
The SYNTHETIX - SNX/USD rating is 2.12 USD. On the day, this instrument gained +6.00% and was between 1.99 USD and 2.22 USD. This implies that the price is at +6.53% from its lowest and at -4.50% from its highest.1.99
2.22
2.12
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of SYNTHETIX - SNX/USD in 1H shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Horizontal resistance is broken
Type : Bullish
Timeframe : 1 hour
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of 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 | 1.96 | 2.02 | 2.07 | 2.12 | 2.15 | 2.20 | 2.59 |
Change (%) | -7.55% | -4.72% | -2.36% | - | +1.42% | +3.77% | +22.17% |
Change | -0.16 | -0.10 | -0.05 | - | +0.03 | +0.08 | +0.47 |
Level | Minor | Intermediate | Intermediate | - | Intermediate | 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 | 1.88 | 1.91 | 1.96 | 1.99 | 2.04 | 2.07 | 2.12 |
Camarilla | 1.98 | 1.99 | 1.99 | 2.00 | 2.01 | 2.02 | 2.02 |
Woodie | 1.88 | 1.92 | 1.96 | 2.00 | 2.04 | 2.08 | 2.12 |
Fibonacci | 1.91 | 1.94 | 1.96 | 1.99 | 2.02 | 2.04 | 2.07 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1.61 | 1.76 | 1.86 | 2.01 | 2.11 | 2.26 | 2.36 |
Camarilla | 1.90 | 1.92 | 1.95 | 1.97 | 1.99 | 2.02 | 2.04 |
Woodie | 1.60 | 1.75 | 1.85 | 2.00 | 2.10 | 2.25 | 2.35 |
Fibonacci | 1.76 | 1.85 | 1.91 | 2.01 | 2.10 | 2.16 | 2.26 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 0.92 | 1.42 | 1.67 | 2.17 | 2.42 | 2.92 | 3.17 |
Camarilla | 1.72 | 1.79 | 1.86 | 1.93 | 2.00 | 2.07 | 2.14 |
Woodie | 0.81 | 1.36 | 1.56 | 2.11 | 2.31 | 2.86 | 3.06 |
Fibonacci | 1.42 | 1.70 | 1.88 | 2.17 | 2.45 | 2.63 | 2.92 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
RSI (14): | 59.53 | |
MACD (12,26,9): | 0.0300 | |
Directional Movement: | 32.53 | |
AROON (14): | 78.57 | |
DEMA (21): | 2.07 | |
Parabolic SAR (0,02-0,02-0,2): | 1.98 | |
Elder Ray (13): | 0.08 | |
Super Trend (3,10): | 2.02 | |
Zig ZAG (10): | 2.10 | |
VORTEX (21): | 1.1700 | |
Stochastique (14,3,5): | 75.31 | |
TEMA (21): | 2.09 | |
Williams %R (14): | -44.44 | |
Chande Momentum Oscillator (20): | 0.14 | |
Repulse (5,40,3): | -1.3300 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.1400 | |
Courbe Coppock: | 9.06 |
MA7: | 2.00 | |
MA20: | 2.08 | |
MA50: | 2.43 | |
MA100: | 2.28 | |
MAexp7: | 2.08 | |
MAexp20: | 2.03 | |
MAexp50: | 2.00 | |
MAexp100: | 1.99 | |
Price / MA7: | +6.00% | |
Price / MA20: | +1.92% | |
Price / MA50: | -12.76% | |
Price / MA100: | -7.02% | |
Price / MAexp7: | +1.92% | |
Price / MAexp20: | +4.43% | |
Price / MAexp50: | +6.00% | |
Price / MAexp100: | +6.53% |
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
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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