MULTICHAIN - MULTI/USDT - 1H - Technical analysis published on 01/23/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 2.38 USDT
My targets
2.75 USDT (+1.74%)
3.13 USDT (+15.93%)
My analysis
MULTICHAIN - MULTI/USDT 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 2.38 USDT. The next resistance located at 2.75 USDT 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 3.13 USDT. 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.
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
8.9
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This analysis was given by MOHAMMED ALAMERI. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The MULTICHAIN - MULTI/USDT price is 2.70 USDT. The price has increased by +116.00% since the last closing with the lowest point at 1.20 USDT and the highest point at 2.77 USDT. The deviation from the price is +125.00% for the low point and -2.53% for the high point.1.20
2.77
2.70
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
The Central Volumes scanner detects abnormal volumes on the asset:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Technical
A technical analysis in 1H of this MULTICHAIN - MULTI/USDT chart shows a strongly 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.
In fact, 16 technical indicators on 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 90
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:
Long white line
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 1.50 | 1.90 | 2.38 | 2.70 | 3.13 |
| Change (%) | -44.44% | -29.63% | -11.85% | - | +15.93% |
| Change | -1.20 | -0.80 | -0.32 | - | +0.43 |
| Level | Intermediate | 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 | 1.11 | 1.15 | 1.20 | 1.24 | 1.29 | 1.33 | 1.38 |
| Camarilla | 1.23 | 1.23 | 1.24 | 1.25 | 1.26 | 1.27 | 1.28 |
| Woodie | 1.12 | 1.15 | 1.21 | 1.24 | 1.30 | 1.33 | 1.39 |
| Fibonacci | 1.15 | 1.18 | 1.21 | 1.24 | 1.27 | 1.30 | 1.33 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.55 | 0.84 | 1.08 | 1.37 | 1.61 | 1.90 | 2.14 |
| Camarilla | 1.17 | 1.22 | 1.27 | 1.32 | 1.37 | 1.42 | 1.47 |
| Woodie | 0.53 | 0.83 | 1.06 | 1.36 | 1.59 | 1.89 | 2.12 |
| Fibonacci | 0.84 | 1.04 | 1.17 | 1.37 | 1.57 | 1.70 | 1.90 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.08 | 0.60 | 0.97 | 1.49 | 1.86 | 2.38 | 2.75 |
| Camarilla | 1.09 | 1.17 | 1.25 | 1.33 | 1.41 | 1.49 | 1.58 |
| Woodie | -0.01 | 0.56 | 0.89 | 1.45 | 1.78 | 2.34 | 2.67 |
| Fibonacci | 0.60 | 0.94 | 1.15 | 1.49 | 1.83 | 2.04 | 2.38 |
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): | 96.74 | |
| MACD (12,26,9): | 0.1700 | |
| Directional Movement: | 68.27 | |
| AROON (14): | 64.29 | |
| DEMA (21): | 1.62 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.24 | |
| Elder Ray (13): | 0.80 | |
| Super Trend (3,10): | 1.84 | |
| Zig ZAG (10): | 2.52 | |
| VORTEX (21): | 1.3700 | |
| Stochastique (14,3,5): | 93.43 | |
| TEMA (21): | 1.78 | |
| Williams %R (14): | -6.05 | |
| Chande Momentum Oscillator (20): | 1.34 | |
| Repulse (5,40,3): | 55.8700 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.4900 | |
| Courbe Coppock: | 63.53 |
| MA7: | 1.43 | |
| MA20: | 1.30 | |
| MA50: | 1.38 | |
| MA100: | 1.61 | |
| MAexp7: | 1.74 | |
| MAexp20: | 1.46 | |
| MAexp50: | 1.34 | |
| MAexp100: | 1.30 | |
| Price / MA7: | +88.81% | |
| Price / MA20: | +107.69% | |
| Price / MA50: | +95.65% | |
| Price / MA100: | +67.70% | |
| Price / MAexp7: | +55.17% | |
| Price / MAexp20: | +84.93% | |
| Price / MAexp50: | +101.49% | |
| Price / MAexp100: | +107.69% |
Quotes :
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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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