ZCASH - ZEC/USD - 1H - Technical analysis published on 05/11/2020 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
28%
44%
28%
My opinion
Bearish under 39.16 USD
My targets
36.42 USD (-6.38%)
33.33 USD (-14.32%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on ZCASH - ZEC/USD as long as the price remains well below 39.16 USD. The sellers” bearish objective is set at 36.42 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 33.33 USD. In case of crossing, the next objective would be the support located at 27.57 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
FORCE
0
10
6.6
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The ZCASH - ZEC/USD rating is 38.90 USD. On the day, this instrument lost -4.73% and was traded between 37.87 USD and 41.65 USD over the period. The price is currently at +2.72% from its lowest and -6.60% from its highest.37.87
41.65
38.90
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
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:
Technical
Technical analysis of ZCASH - ZEC/USD in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S2
S1
R1
R2
R3
Price
| S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 27.57 | 33.33 | 38.90 | 39.16 | 42.35 | 43.58 |
| Change (%) | -29.13% | -14.32% | - | +0.67% | +8.87% | +12.03% |
| Change | -11.33 | -5.57 | - | +0.26 | +3.45 | +4.68 |
| Level | Major | Minor | - | Minor | Minor | Minor |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 31.57 | 35.18 | 38.01 | 41.62 | 44.45 | 48.06 | 50.89 |
| Camarilla | 39.06 | 39.65 | 40.24 | 40.83 | 41.42 | 42.01 | 42.60 |
| Woodie | 31.17 | 34.99 | 37.61 | 41.43 | 44.05 | 47.87 | 50.49 |
| Fibonacci | 35.18 | 37.64 | 39.16 | 41.62 | 44.08 | 45.60 | 48.06 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 36.42 | 39.14 | 42.18 | 44.90 | 47.94 | 50.66 | 53.70 |
| Camarilla | 43.64 | 44.16 | 44.69 | 45.22 | 45.75 | 46.28 | 46.80 |
| Woodie | 36.58 | 39.22 | 42.34 | 44.98 | 48.10 | 50.74 | 53.86 |
| Fibonacci | 39.14 | 41.34 | 42.70 | 44.90 | 47.10 | 48.46 | 50.66 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 14.05 | 21.99 | 33.30 | 41.24 | 52.55 | 60.49 | 71.80 |
| Camarilla | 39.32 | 41.08 | 42.85 | 44.61 | 46.38 | 48.14 | 49.90 |
| Woodie | 15.74 | 22.83 | 34.99 | 42.08 | 54.24 | 61.33 | 73.49 |
| Fibonacci | 21.99 | 29.34 | 33.89 | 41.24 | 48.59 | 53.14 | 60.49 |
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): | 31.12 | |
| MACD (12,26,9): | -0.5600 | |
| Directional Movement: | -30.04 | |
| AROON (14): | -42.86 | |
| DEMA (21): | 39.61 | |
| Parabolic SAR (0,02-0,02-0,2): | 41.50 | |
| Elder Ray (13): | -1.45 | |
| Super Trend (3,10): | 40.76 | |
| Zig ZAG (10): | 38.69 | |
| VORTEX (21): | 0.7700 | |
| Stochastique (14,3,5): | 12.30 | |
| TEMA (21): | 39.64 | |
| Williams %R (14): | -76.46 | |
| Chande Momentum Oscillator (20): | -1.96 | |
| Repulse (5,40,3): | -3.0100 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1500 | |
| Courbe Coppock: | 4.63 |
| MA7: | 43.40 | |
| MA20: | 44.39 | |
| MA50: | 39.03 | |
| MA100: | 45.82 | |
| MAexp7: | 39.83 | |
| MAexp20: | 40.34 | |
| MAexp50: | 41.45 | |
| MAexp100: | 42.52 | |
| Price / MA7: | -10.37% | |
| Price / MA20: | -12.37% | |
| Price / MA50: | -0.33% | |
| Price / MA100: | -15.10% | |
| Price / MAexp7: | -2.33% | |
| Price / MAexp20: | -3.57% | |
| Price / MAexp50: | -6.15% | |
| Price / MAexp100: | -8.51% |
This member declared not having a position on this financial instrument or a related financial instrument.
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