ZCASH - ZEC/USD - 1H - Technical analysis published on 05/19/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Bullish
De fond:
Strongly bullish
Technical indicators
61%
6%
33%
My opinion
Bullish above 47.11 USD
My targets
48.64 USD (+1.71%)
49.55 USD (+3.62%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on ZCASH - ZEC/USD as long as the price remains well above 47.11 USD. The buyers” bullish objective is set at 48.64 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 49.55 USD. If there is any crossing, the next objective would be the resistance located at 53.30 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
6.8
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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 price is 47.82 USD. On the day, this instrument gained -0.08% with the lowest point at 46.44 USD and the highest point at 48.36 USD. The deviation from the price is +2.97% for the low point and -1.12% for the high point.46.44
48.36
47.82
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this ZCASH - ZEC/USD chart shows a strongly bullish trend. The signals given by moving averages are 85.71% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by short-term moving averages. An assessment of moving averages reveals several bullish signals that could impact this trend:
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
In fact, 11 technical indicators on 18 studied are currently positioned bullish. The Central Indicators scanner found this result concerning these indicators:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Horizontal resistance is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 42.91 | 45.49 | 47.11 | 47.82 | 48.64 | 49.55 | 53.30 |
| Change (%) | -10.27% | -4.87% | -1.48% | - | +1.71% | +3.62% | +11.46% |
| Change | -4.91 | -2.33 | -0.71 | - | +0.82 | +1.73 | +5.48 |
| Level | Major | Major | Minor | - | Minor | Major | 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 | 43.01 | 44.65 | 46.26 | 47.90 | 49.51 | 51.15 | 52.76 |
| Camarilla | 46.97 | 47.26 | 47.56 | 47.86 | 48.16 | 48.46 | 48.75 |
| Woodie | 42.99 | 44.64 | 46.24 | 47.89 | 49.49 | 51.14 | 52.74 |
| Fibonacci | 44.65 | 45.90 | 46.66 | 47.90 | 49.15 | 49.91 | 51.15 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 31.23 | 34.55 | 38.60 | 41.92 | 45.97 | 49.29 | 53.34 |
| Camarilla | 40.62 | 41.30 | 41.97 | 42.65 | 43.33 | 44.00 | 44.68 |
| Woodie | 31.60 | 34.73 | 38.97 | 42.10 | 46.34 | 49.47 | 53.71 |
| Fibonacci | 34.55 | 37.37 | 39.11 | 41.92 | 44.74 | 46.48 | 49.29 |
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): | 52.12 | |
| MACD (12,26,9): | 0.0600 | |
| Directional Movement: | 4.57 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 47.65 | |
| Parabolic SAR (0,02-0,02-0,2): | 46.76 | |
| Elder Ray (13): | 0.10 | |
| Super Trend (3,10): | 46.62 | |
| Zig ZAG (10): | 47.82 | |
| VORTEX (21): | 0.9900 | |
| Stochastique (14,3,5): | 66.49 | |
| TEMA (21): | 47.55 | |
| Williams %R (14): | -28.12 | |
| Chande Momentum Oscillator (20): | 1.15 | |
| Repulse (5,40,3): | 0.6400 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 2.47 |
| MA7: | 44.73 | |
| MA20: | 44.25 | |
| MA50: | 41.16 | |
| MA100: | 43.92 | |
| MAexp7: | 47.66 | |
| MAexp20: | 47.56 | |
| MAexp50: | 47.14 | |
| MAexp100: | 46.08 | |
| Price / MA7: | +6.91% | |
| Price / MA20: | +8.07% | |
| Price / MA50: | +16.18% | |
| Price / MA100: | +8.88% | |
| Price / MAexp7: | +0.34% | |
| Price / MAexp20: | +0.55% | |
| Price / MAexp50: | +1.44% | |
| Price / MAexp100: | +3.78% |
This member declared not having a position on this financial instrument or a related financial instrument.
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