ALGORAND - ALGO/ETH - 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:
Bullish
Underlying:
Bearish
Technical indicators
72%
6%
22%
My opinion
Bearish under 0.000128 ETH
My targets
0.000080 ETH (-17.84%)
0.000058 ETH (-40.21%)
My analysis
The basic trend is bearish on ALGORAND - ALGO/ETH and in the short term, the price is trying to rebound. For the time being, this is only a technical rebound and the basic trend is not threatened. To have the rebound confirmed, it would have at least to go back above the 0.000128 ETH. Buyers would then use the next resistance located at 0.000178 ETH as an objective. Crossing it would then enable buyers to target 0.000300 ETH. If there is a return to below the support located at 0.000080 ETH, this would be a sign of a reversal in the basic bearish trend.
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
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This analysis was given by CryplerII. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
ALGORAND - ALGO/ETH rating 0.000097 ETH. Over 5 days, this instrument lost -4.90% and was traded between 0.000093 ETH and 0.000107 ETH over the period. The price is currently at +4.30% from its lowest point and -9.35% from its highest point.0.000093
0.000107
0.000097
Here is a more detailed summary of the historical variations registered by ALGORAND - ALGO/ETH:
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of ALGORAND - ALGO/ETH in Weekly shows an overall bearish trend. 67.86% of the signals given by moving averages are bearish. Caution: the slightly bullish signals currently being given by short-term moving averages indicate that this bearish trend may be slowing down. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators shows a strong bullish signal.
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
CCI indicator: bearish divergence
Type : Bearish
Timeframe : Weekly
MACD indicator is back over 0
Type : Bullish
Timeframe : Weekly
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.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S1
R1
R2
R3
Price
| S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|
| ProTrendLines | 0.000058 | 0.000097 | 0.000178 | 0.000300 | 0.000476 |
| Change (%) | -40.21% | - | +83.51% | +209.28% | +390.72% |
| Change | -0.000039 | - | +0.000081 | +0.000203 | +0.000379 |
| Level | Major | - | Minor | Major | Minor |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.000088 | 0.000092 | 0.000095 | 0.000099 | 0.000102 | 0.000106 | 0.000109 |
| Camarilla | 0.000096 | 0.000097 | 0.000097 | 0.000098 | 0.000099 | 0.000099 | 0.000100 |
| Woodie | 0.000088 | 0.000092 | 0.000095 | 0.000099 | 0.000102 | 0.000106 | 0.000109 |
| Fibonacci | 0.000092 | 0.000095 | 0.000096 | 0.000099 | 0.000102 | 0.000103 | 0.000106 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.000057 | 0.000070 | 0.000086 | 0.000099 | 0.000115 | 0.000128 | 0.000144 |
| Camarilla | 0.000094 | 0.000097 | 0.000099 | 0.000102 | 0.000105 | 0.000107 | 0.000110 |
| Woodie | 0.000059 | 0.000071 | 0.000088 | 0.000100 | 0.000117 | 0.000129 | 0.000146 |
| Fibonacci | 0.000070 | 0.000081 | 0.000088 | 0.000099 | 0.000110 | 0.000117 | 0.000128 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.000046 | 0.000054 | 0.000059 | 0.000067 | 0.000072 | 0.000080 | 0.000085 |
| Camarilla | 0.000061 | 0.000063 | 0.000064 | 0.000065 | 0.000066 | 0.000067 | 0.000069 |
| Woodie | 0.000046 | 0.000053 | 0.000059 | 0.000066 | 0.000072 | 0.000079 | 0.000085 |
| Fibonacci | 0.000054 | 0.000059 | 0.000062 | 0.000067 | 0.000072 | 0.000075 | 0.000080 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 63.06 | |
| MACD (12,26,9): | 0.0000 | |
| Directional Movement: | 18.491293 | |
| AROON (14): | 57.142857 | |
| DEMA (21): | 0.000074 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.000069 | |
| Elder Ray (13): | 0.000022 | |
| Super Trend (3,10): | 0.000061 | |
| Zig ZAG (10): | 0.000097 | |
| VORTEX (21): | 1.1756 | |
| Stochastique (14,3,5): | 78.49 | |
| TEMA (21): | 0.000090 | |
| Williams %R (14): | -25.86 | |
| Chande Momentum Oscillator (20): | 0.000035 | |
| Repulse (5,40,3): | 11.9393 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.9888 | |
| Courbe Coppock: | 78.97 |
| MA7: | 0.000100 | |
| MA20: | 0.000095 | |
| MA50: | 0.000079 | |
| MA100: | 0.000070 | |
| MAexp7: | 0.000086 | |
| MAexp20: | 0.000076 | |
| MAexp50: | 0.000102 | |
| MAexp100: | 0.000214 | |
| Price / MA7: | -3.00% | |
| Price / MA20: | +2.11% | |
| Price / MA50: | +22.78% | |
| Price / MA100: | +38.57% | |
| Price / MAexp7: | +12.79% | |
| Price / MAexp20: | +27.63% | |
| Price / MAexp50: | -4.90% | |
| Price / MAexp100: | -54.67% |
Quotes :
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Real time data
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Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
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