Summary of the analysis
Trends
Short term: Strongly bearish
Underlying: Strongly bearish
Technical indicators
11%
67%
22%
My opinion
Bearish under 28.97 USDT
My targets
27.03 USDT (-4.25%)
23.94 USDT (-15.20%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on EGOLD - EGLD/USDT as long as the price remains well below 28.97 USDT. The sellers' bearish objective is set at 27.03 USDT. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 23.94 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.
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 circ*mstances, 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 EGOLD - EGLD/USDT rating is 28.23 USDT. The price is lower by -1.71% since the last closing with the lowest point at 28.10 USDT and the highest point at 28.73 USDT. The deviation from the price is +0.46% for the low point and -1.74% for the high point.
28.10
28.73
28.23
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:
The Central Records scanner, which identifies the highest / lowest, has detected several elements:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of EGOLD - EGLD/USDT indicates that the overall trend is strongly bearish. 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. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators shows a bearish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Central Indicators, the detector scanner for these technical indicators recently detected a signal:
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
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:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 23.94 | 27.03 | 28.18 | 28.23 | 28.97 | 30.76 | 31.77 |
| Change (%) | -15.20% | -4.25% | -0.18% | - | +2.62% | +8.96% | +12.54% |
| Change | -4.29 | -1.20 | -0.05 | - | +0.74 | +2.53 | +3.54 |
| Level | Intermediate | Minor | Intermediate | - | Minor | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 26.57 | 27.37 | 28.05 | 28.85 | 29.53 | 30.33 | 31.01 |
| Camarilla | 28.31 | 28.45 | 28.58 | 28.72 | 28.86 | 28.99 | 29.13 |
| Woodie | 26.50 | 27.34 | 27.98 | 28.82 | 29.46 | 30.30 | 30.94 |
| Fibonacci | 27.37 | 27.94 | 28.29 | 28.85 | 29.42 | 29.77 | 30.33 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 27.12 | 29.45 | 31.34 | 33.67 | 35.56 | 37.89 | 39.78 |
| Camarilla | 32.08 | 32.47 | 32.85 | 33.24 | 33.63 | 34.01 | 34.40 |
| Woodie | 26.91 | 29.34 | 31.13 | 33.56 | 35.35 | 37.78 | 39.57 |
| Fibonacci | 29.45 | 31.06 | 32.06 | 33.67 | 35.28 | 36.28 | 37.89 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 30.03 | 33.44 | 36.15 | 39.56 | 42.27 | 45.68 | 48.39 |
| Camarilla | 37.18 | 37.74 | 38.30 | 38.86 | 39.42 | 39.98 | 40.54 |
| Woodie | 29.68 | 33.27 | 35.80 | 39.39 | 41.92 | 45.51 | 48.04 |
| Fibonacci | 33.44 | 35.78 | 37.22 | 39.56 | 41.90 | 43.34 | 45.68 |
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): | 37.38 | |
| MACD (12,26,9): | -0.2100 | |
| Directional Movement: | -14.74 | |
| AROON (14): | -85.72 | |
| DEMA (21): | 28.31 | |
| Parabolic SAR (0,02-0,02-0,2): | 28.72 | |
| Elder Ray (13): | -0.33 | |
| Super Trend (3,10): | 28.93 | |
| Zig ZAG (10): | 28.16 | |
| VORTEX (21): | 0.8900 | |
| Stochastique (14,3,5): | 10.06 | |
| TEMA (21): | 28.27 | |
| Williams %R (14): | -94.34 | |
| Chande Momentum Oscillator (20): | -0.61 | |
| Repulse (5,40,3): | -1.0400 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1000 | |
| Courbe Coppock: | 2.21 |
| MA7: | 29.88 | |
| MA20: | 33.72 | |
| MA50: | 37.22 | |
| MA100: | 44.09 | |
| MAexp7: | 28.36 | |
| MAexp20: | 28.58 | |
| MAexp50: | 28.95 | |
| MAexp100: | 29.53 | |
| Price / MA7: | -5.52% | |
| Price / MA20: | -16.28% | |
| Price / MA50: | -24.15% | |
| Price / MA100: | -35.97% | |
| Price / MAexp7: | -0.46% | |
| Price / MAexp20: | -1.22% | |
| Price / MAexp50: | -2.49% | |
| Price / MAexp100: | -4.40% |
Quotes :-Real time data-Cryptocompare
