ALGORAND (X1000) - ALGO/BTC - Weekly - Technical analysis published on 12/30/2023 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
72%
6%
22%
My opinion
Bearish under 0.006532 BTC
My targets
0.003812 BTC (-27.54%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on ALGORAND (X1000) - ALGO/BTC. As long as you are under the resistance located at 0.006532 BTC, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 0.003812 BTC would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. If the resistance 0.006532 BTC were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
0.4
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This analysis was given by CryplerII. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The ALGORAND (X1000) - ALGO/BTC rating is 0.005261 BTC. Over 5 days, this instrument lost -1.99% and has been traded over the last 5 days between 0.005198 BTC and 0.005627 BTC. This implies that the 5 day price is +1.21% from its lowest point and -6.50% from its highest point.0.005198
0.005627
0.005261
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
The Central Volumes scanner notes the presence of abnormal volumes:
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of ALGORAND (X1000) - ALGO/BTC in Weekly shows an overall bearish trend. The signals given by moving averages are 71.43% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 13 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Weekly
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : Weekly
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Bearish harami
Type : Bearish
Timeframe : Weekly
ProTrendLines
S1
R1
R2
R3
Price
| S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|
| ProTrendLines | 0.003812 | 0.005261 | 0.012293 | 0.020577 | 0.038612 |
| Change (%) | -27.54% | - | +133.66% | +291.12% | +633.93% |
| Change | -0.001449 | - | +0.007032 | +0.015316 | +0.033351 |
| Level | Intermediate | - | Minor | 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 | 0.004857 | 0.005080 | 0.005230 | 0.005453 | 0.005603 | 0.005826 | 0.005976 |
| Camarilla | 0.005277 | 0.005312 | 0.005346 | 0.005380 | 0.005414 | 0.005448 | 0.005483 |
| Woodie | 0.004821 | 0.005062 | 0.005194 | 0.005435 | 0.005567 | 0.005808 | 0.005940 |
| Fibonacci | 0.005080 | 0.005223 | 0.005311 | 0.005453 | 0.005596 | 0.005684 | 0.005826 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.003207 | 0.003784 | 0.004581 | 0.005158 | 0.005955 | 0.006532 | 0.007329 |
| Camarilla | 0.004999 | 0.005125 | 0.005251 | 0.005377 | 0.005503 | 0.005629 | 0.005755 |
| Woodie | 0.003316 | 0.003839 | 0.004690 | 0.005213 | 0.006064 | 0.006587 | 0.007438 |
| Fibonacci | 0.003784 | 0.004309 | 0.004634 | 0.005158 | 0.005683 | 0.006008 | 0.006532 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.002627 | 0.003000 | 0.003275 | 0.003648 | 0.003923 | 0.004296 | 0.004571 |
| Camarilla | 0.003372 | 0.003431 | 0.003491 | 0.003550 | 0.003609 | 0.003669 | 0.003728 |
| Woodie | 0.002578 | 0.002976 | 0.003226 | 0.003624 | 0.003874 | 0.004272 | 0.004522 |
| Fibonacci | 0.003000 | 0.003248 | 0.003401 | 0.003648 | 0.003896 | 0.004049 | 0.004296 |
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): | 58.94 | |
| MACD (12,26,9): | -0.0002 | |
| Directional Movement: | 9.561217 | |
| AROON (14): | 57.142857 | |
| DEMA (21): | 0.003769 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.003506 | |
| Elder Ray (13): | 0.001127 | |
| Super Trend (3,10): | 0.003353 | |
| Zig ZAG (10): | 0.005291 | |
| VORTEX (21): | 1.1388 | |
| Stochastique (14,3,5): | 83.01 | |
| TEMA (21): | 0.004772 | |
| Williams %R (14): | -15.34 | |
| Chande Momentum Oscillator (20): | 0.001657 | |
| Repulse (5,40,3): | 15.2819 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -1.7838 | |
| Courbe Coppock: | 45.33 |
| MA7: | 0.005397 | |
| MA20: | 0.005037 | |
| MA50: | 0.004249 | |
| MA100: | 0.003833 | |
| MAexp7: | 0.004617 | |
| MAexp20: | 0.004326 | |
| MAexp50: | 0.006378 | |
| MAexp100: | 0.010472 | |
| Price / MA7: | -2.52% | |
| Price / MA20: | +4.45% | |
| Price / MA50: | +23.82% | |
| Price / MA100: | +37.26% | |
| Price / MAexp7: | +13.95% | |
| Price / MAexp20: | +21.61% | |
| Price / MAexp50: | -17.51% | |
| Price / MAexp100: | -49.76% |
Quotes :
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Real time data
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This member declared not having a position on this financial instrument or a related financial instrument.
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