Londinia Opportunities Analyses - 04/26/2024 (GMT) SHENTU - CTK/USDT - 1H
| Type: | Cryptocurrencies |
| Ticker: | CTKUSDT |
| 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 0.722525 USDT
My targets
0.674891 USDT (-4.02%)
0.661277 USDT (-5.95%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on SHENTU - CTK/USDT as long as the price remains well below 0.722525 USDT. The sellers' bearish objective is set at 0.674891 USDT. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 0.661277 USDT. In case of crossing, the next objective would be the support located at 0.601367 USDT. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
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
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Additional analysis
Quotes
The SHENTU - CTK/USDT price is 0.703125 USDT. On the day, this instrument lost -4.49% and was traded between 0.694050 USDT and 0.743747 USDT over the period. The price is currently at +1.31% from its lowest and -5.46% from its highest.0.694050
0.743747
0.703125
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of SHENTU - CTK/USDT 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. An assessment of moving averages reveals a bearish signal that could impact this trend:
Moving Average bearish crossovers : MA20 & MA50
Type : Bearish
Timeframe : 1 hour
In fact, 12 technical indicators on 18 studied are currently positioned bearish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
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 | 0.661277 | 0.674891 | 0.701347 | 0.703125 | 0.722525 | 0.734158 | 0.746820 |
| Change (%) | -5.95% | -4.02% | -0.25% | - | +2.76% | +4.41% | +6.21% |
| Change | -0.041848 | -0.028234 | -0.001778 | - | +0.019400 | +0.031033 | +0.043695 |
| Level | Intermediate | Major | Intermediate | - | Intermediate | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.667333 | 0.684216 | 0.710202 | 0.727085 | 0.753071 | 0.769954 | 0.795940 |
| Camarilla | 0.724400 | 0.728330 | 0.732259 | 0.736189 | 0.740119 | 0.744048 | 0.747978 |
| Woodie | 0.671886 | 0.686492 | 0.714755 | 0.729361 | 0.757624 | 0.772230 | 0.800493 |
| Fibonacci | 0.684216 | 0.700592 | 0.710709 | 0.727085 | 0.743461 | 0.753578 | 0.769954 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.539273 | 0.592609 | 0.680021 | 0.733357 | 0.820769 | 0.874105 | 0.961517 |
| Camarilla | 0.728728 | 0.741630 | 0.754532 | 0.767434 | 0.780336 | 0.793238 | 0.806140 |
| Woodie | 0.556312 | 0.601128 | 0.697060 | 0.741876 | 0.837808 | 0.882624 | 0.978556 |
| Fibonacci | 0.592609 | 0.646374 | 0.679591 | 0.733357 | 0.787122 | 0.820339 | 0.874105 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.514211 | 0.641528 | 0.842005 | 0.969322 | 1.169799 | 1.297116 | 1.497593 |
| Camarilla | 0.952339 | 0.982386 | 1.012434 | 1.042482 | 1.072530 | 1.102578 | 1.132625 |
| Woodie | 0.550791 | 0.659818 | 0.878585 | 0.987612 | 1.206379 | 1.315406 | 1.534173 |
| Fibonacci | 0.641528 | 0.766745 | 0.844105 | 0.969322 | 1.094539 | 1.171899 | 1.297116 |
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): | 34.55 | |
| MACD (12,26,9): | -0.0074 | |
| Directional Movement: | -6.654766 | |
| AROON (14): | -14.285714 | |
| DEMA (21): | 0.708063 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.734572 | |
| Elder Ray (13): | -0.007813 | |
| Super Trend (3,10): | 0.734571 | |
| Zig ZAG (10): | 0.703235 | |
| VORTEX (21): | 0.8296 | |
| Stochastique (14,3,5): | 19.54 | |
| TEMA (21): | 0.703706 | |
| Williams %R (14): | -81.84 | |
| Chande Momentum Oscillator (20): | -0.028171 | |
| Repulse (5,40,3): | -0.4919 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0849 | |
| Courbe Coppock: | 7.76 |
| MA7: | 0.749872 | |
| MA20: | 0.782439 | |
| MA50: | 0.880786 | |
| MA100: | 0.796864 | |
| MAexp7: | 0.707001 | |
| MAexp20: | 0.716586 | |
| MAexp50: | 0.726436 | |
| MAexp100: | 0.734803 | |
| Price / MA7: | -6.23% | |
| Price / MA20: | -10.14% | |
| Price / MA50: | -20.17% | |
| Price / MA100: | -11.76% | |
| Price / MAexp7: | -0.55% | |
| Price / MAexp20: | -1.88% | |
| Price / MAexp50: | -3.21% | |
| Price / MAexp100: | -4.31% |
Quotes :
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Real time data
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Cryptocompare