Londinia Opportunities Analyses - 12/03/2021 (GMT) ENZYME - MLN/USDT - 1H

ENZYME - MLN/USDT
- USDT (-)
- Real time data - Cryptocompare
Type: Cryptocurrencies
Ticker: MLNUSDT
ISIN:

I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
  • Cryptocurrencies
  • Timeframe : 1H
  • - Analysis generated on
  • Status : TARGET REACHED

Summary of the analysis

Trends
Short term: Strongly bearish
Underlying: Strongly bearish
Technical indicators
11%
67%
22%
My opinion
Bearish under 100.83 USDT
My targets
96.65 USDT (-2.39%)
87.54 USDT (-11.59%)
My analysis
ENZYME - MLN/USDT is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 100.83 USDT. The next support located at 96.65 USDT is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 87.54 USDT. Below this support, sellers could then target 59.60 USDT. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.

In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
7.9

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

Additional analysis

Quotes

The ENZYME - MLN/USDT price is 99.02 USDT. On the day, this instrument lost -2.06% and was between 98.57 USDT and 103.85 USDT. This implies that the price is at +0.46% from its lowest and at -4.65% from its highest.

98.57
103.85
99.02

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.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



A study of price movements over other periods shows the following variations:
The study of the highest / lowest by the Central Records scanner shows the following result:

Central Records

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly



Technical


Technical analysis of this 1H chart of ENZYME - MLN/USDT indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:

Central Indicators

Bearish trend reversal : Moving Average 20

Type : Bearish

Timeframe : 1 hour



An assessment of technical indicators shows a bearish signal.
But beware of excesses. The Central Indicators scanner currently detects this:

Central Indicators

Previous candle closed over Bollinger bands

Type : Neutral

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Central Indicators

RSI indicator is back under 50

Type : Bearish

Timeframe : 1 hour


Parabolic SAR indicator bearish reversal

Type : Bearish

Timeframe : 1 hour


Ichimoku : price is under the cloud

Type : Bearish

Timeframe : 1 hour


Momentum indicator is back under 0

Type : Bearish

Timeframe : 1 hour


Williams %R indicator is back under -50

Type : Bearish

Timeframe : 1 hour



Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:

Central Patterns

Horizontal resistance is broken

Type : Bullish

Timeframe : 1 hour


Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour



No result was found by the Central Candlesticks scanner on Japanese candlesticks.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 87.54 96.65 98.74 99.02 100.83 108.46 112.61
Change (%) -11.59% -2.39% -0.28% - +1.83% +9.53% +13.72%
Change -11.48 -2.37 -0.28 - +1.81 +9.44 +13.59
Level Minor Minor Intermediate - Major Minor 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
Standard93.0895.9798.54101.43104.00106.89109.46
Camarilla99.60100.10100.60101.10101.60102.10102.60
Woodie92.9195.8998.37101.35103.83106.81109.29
Fibonacci95.9798.0699.35101.43103.52104.81106.89


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard74.9286.7593.94105.77112.96124.79131.98
Camarilla95.8997.6399.38101.12102.86104.61106.35
Woodie72.5985.5991.61104.61110.63123.63129.65
Fibonacci86.7594.0298.51105.77113.04117.53124.79


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard33.7865.2184.78116.21135.78167.21186.78
Camarilla90.3294.9999.67104.34109.02113.69118.37
Woodie27.8462.2578.84113.25129.84164.25180.84
Fibonacci65.2184.7096.73116.21135.70147.73167.21

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): 36.91
MACD (12,26,9): -0.2800
Directional Movement: -9.30
AROON (14): -14.29
DEMA (21): 101.02
Parabolic SAR (0,02-0,02-0,2): 103.66
Elder Ray (13): -1.62
Super Trend (3,10): 102.56
Zig ZAG (10): 99.53
VORTEX (21): 0.9200
Stochastique (14,3,5): 9.91
TEMA (21): 100.99
Williams %R (14): -96.10
Chande Momentum Oscillator (20): -2.46
Repulse (5,40,3): -3.0700
ROCnROLL: 2
TRIX (15,9): -0.0100
Courbe Coppock: 0.35
MA7: 103.20
MA20: 109.74
MA50: 124.70
MA100: 125.48
MAexp7: 100.73
MAexp20: 101.33
MAexp50: 101.98
MAexp100: 102.82
Price / MA7: -4.05%
Price / MA20: -9.77%
Price / MA50: -20.59%
Price / MA100: -21.09%
Price / MAexp7: -1.70%
Price / MAexp20: -2.28%
Price / MAexp50: -2.90%
Price / MAexp100: -3.70%

Quotes : - Real time data - Cryptocompare