SYNTHETIX - SNX/USD - 1H - Technical analysis published on 01/19/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
50%
11%
39%
My opinion
Bearish under 3.52 USD
My targets
3.30 USD (-1.20%)
3.08 USD (-7.78%)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 3.52 USD remains possible. It is advisable to trade SYNTHETIX - SNX/USD with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 3.52 USD. The next bearish objective for sellers is set at 3.30 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 3.08 USD. In case of crossing, the next objective would be the support located at 2.60 USD. PS: if there is a bullish break in the resistance located at 3.52 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
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
3.4
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Additional analysis
Quotes
SYNTHETIX - SNX/USD rating 3.34 USD. The price registered a decrease of -0.30% on the session and was traded between 3.17 USD and 3.41 USD over the period. The price is currently at +5.36% from its lowest and -2.05% from its highest.3.17
3.41
3.34
A study of price movements over other periods shows the following variations:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
The Central Volumes scanner notes the presence of abnormal volumes:
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of SYNTHETIX - SNX/USD in 1H shows an overall bearish trend. 78.57% 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. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, only 9 technical indicators out of 18 studied are currently positioned bullish. Central Indicators, the detector scanner for these technical indicators recently detected a signal:
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
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 | 2.60 | 3.08 | 3.30 | 3.34 | 3.52 | 3.62 | 3.78 |
| Change (%) | -22.16% | -7.78% | -1.20% | - | +5.39% | +8.38% | +13.17% |
| Change | -0.74 | -0.26 | -0.04 | - | +0.18 | +0.28 | +0.44 |
| Level | Minor | Intermediate | Major | - | Major | Intermediate | Minor |
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 | 2.88 | 3.08 | 3.21 | 3.41 | 3.54 | 3.74 | 3.87 |
| Camarilla | 3.26 | 3.29 | 3.32 | 3.35 | 3.38 | 3.41 | 3.44 |
| Woodie | 2.86 | 3.06 | 3.19 | 3.39 | 3.52 | 3.72 | 3.85 |
| Fibonacci | 3.08 | 3.20 | 3.28 | 3.41 | 3.53 | 3.61 | 3.74 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.24 | 2.66 | 3.21 | 3.63 | 4.18 | 4.60 | 5.15 |
| Camarilla | 3.48 | 3.57 | 3.66 | 3.75 | 3.84 | 3.93 | 4.02 |
| Woodie | 2.30 | 2.69 | 3.27 | 3.66 | 4.24 | 4.63 | 5.21 |
| Fibonacci | 2.66 | 3.03 | 3.26 | 3.63 | 4.00 | 4.23 | 4.60 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.45 | 2.37 | 3.11 | 4.03 | 4.77 | 5.69 | 6.43 |
| Camarilla | 3.40 | 3.56 | 3.71 | 3.86 | 4.01 | 4.16 | 4.32 |
| Woodie | 1.37 | 2.33 | 3.03 | 3.99 | 4.69 | 5.65 | 6.35 |
| Fibonacci | 2.37 | 3.00 | 3.39 | 4.03 | 4.66 | 5.05 | 5.69 |
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): | 46.71 | |
| MACD (12,26,9): | -0.0300 | |
| Directional Movement: | -10.07 | |
| AROON (14): | -64.29 | |
| DEMA (21): | 3.30 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.17 | |
| Elder Ray (13): | 0.01 | |
| Super Trend (3,10): | 3.38 | |
| Zig ZAG (10): | 3.34 | |
| VORTEX (21): | 1.0100 | |
| Stochastique (14,3,5): | 70.47 | |
| TEMA (21): | 3.31 | |
| Williams %R (14): | -26.09 | |
| Chande Momentum Oscillator (20): | -0.04 | |
| Repulse (5,40,3): | 0.9500 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.1200 | |
| Courbe Coppock: | 3.52 |
| MA7: | 3.53 | |
| MA20: | 3.61 | |
| MA50: | 3.81 | |
| MA100: | 3.21 | |
| MAexp7: | 3.32 | |
| MAexp20: | 3.34 | |
| MAexp50: | 3.40 | |
| MAexp100: | 3.47 | |
| Price / MA7: | -5.38% | |
| Price / MA20: | -7.48% | |
| Price / MA50: | -12.34% | |
| Price / MA100: | +4.05% | |
| Price / MAexp7: | +0.60% | |
| Price / MAexp20: | -0% | |
| Price / MAexp50: | -1.76% | |
| Price / MAexp100: | -3.75% |
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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