ALGORAND - ALGO/USD - 1H - Technical analysis published on 08/03/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bearish
Technical indicators
39%
17%
44%
My opinion
Bearish under 0.317733 USD
My targets
0.282867 USD (-9.63%)
0.280700 USD (-10.32%)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers” generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 0.317733 USD remains possible. It is advisable to trade ALGORAND - ALGO/USD with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 0.317733 USD. The next bearish objective for sellers is set at 0.282867 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 0.280700 USD. In case of crossing, the next objective would be the support located at 0.269800 USD. PS: if there is a bullish break in the resistance located at 0.317733 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
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
2.5
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This analysis was given by AKOUSA. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The ALGORAND - ALGO/USD rating is 0.313000 USD. The price registered an increase of +3.71% on the session and was traded between 0.298400 USD and 0.320000 USD over the period. The price is currently at +4.89% from its lowest and -2.19% from its highest.0.298400
0.320000
0.313000
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by ALGORAND - ALGO/USD:
Abnormal volumes
Timeframe : 20 days
Technical
Technical analysis of ALGORAND - ALGO/USD in 1H shows an overall bearish trend. 75.00% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. An assessment of moving averages reveals several bearish signals that could impact this trend:
Bearish trend reversal : adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, only 7 technical indicators out of 18 analysed are currently bullish. The Central Indicators scanner found this result concerning these indicators:
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The presence of these Japanese chandelier patterns detected by Central Candlesticks that could impact the current short-term trend were also noted:
Black hanging man / hammer
Type : Neutral
Timeframe : 1 hour
Downside gap
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.248488 | 0.269800 | 0.280700 | 0.313000 | 0.317733 | 0.330200 | 0.337878 |
| Change (%) | -20.61% | -13.80% | -10.32% | - | +1.51% | +5.50% | +7.95% |
| Change | -0.064512 | -0.043200 | -0.032300 | - | +0.004733 | +0.017200 | +0.024878 |
| Level | Major | Minor | Minor | - | Major | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.207567 | 0.240733 | 0.271267 | 0.304433 | 0.334967 | 0.368133 | 0.398667 |
| Camarilla | 0.284283 | 0.290122 | 0.295961 | 0.301800 | 0.307639 | 0.313478 | 0.319318 |
| Woodie | 0.206250 | 0.240075 | 0.269950 | 0.303775 | 0.333650 | 0.367475 | 0.397350 |
| Fibonacci | 0.240733 | 0.265067 | 0.280100 | 0.304433 | 0.328767 | 0.343800 | 0.368133 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.204067 | 0.236933 | 0.282867 | 0.315733 | 0.361667 | 0.394533 | 0.440467 |
| Camarilla | 0.307130 | 0.314353 | 0.321577 | 0.328800 | 0.336023 | 0.343247 | 0.350470 |
| Woodie | 0.210600 | 0.240200 | 0.289400 | 0.319000 | 0.368200 | 0.397800 | 0.447000 |
| Fibonacci | 0.236933 | 0.267035 | 0.285632 | 0.315733 | 0.345835 | 0.364432 | 0.394533 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.021067 | 0.111133 | 0.219467 | 0.309533 | 0.417867 | 0.507933 | 0.616267 |
| Camarilla | 0.273240 | 0.291427 | 0.309613 | 0.327800 | 0.345987 | 0.364173 | 0.382360 |
| Woodie | 0.030200 | 0.115700 | 0.228600 | 0.314100 | 0.427000 | 0.512500 | 0.625400 |
| Fibonacci | 0.111133 | 0.186922 | 0.233745 | 0.309533 | 0.385322 | 0.432145 | 0.507933 |
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): | 48.57 | |
| MACD (12,26,9): | 0.0011 | |
| Directional Movement: | -3.808519 | |
| AROON (14): | 35.714286 | |
| DEMA (21): | 0.313153 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.280780 | |
| Elder Ray (13): | -0.000858 | |
| Super Trend (3,10): | 0.304791 | |
| Zig ZAG (10): | 0.311100 | |
| VORTEX (21): | 1.2487 | |
| Stochastique (14,3,5): | 72.07 | |
| TEMA (21): | 0.316686 | |
| Williams %R (14): | -36.57 | |
| Chande Momentum Oscillator (20): | 0.003900 | |
| Repulse (5,40,3): | 0.0102 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0049 | |
| Courbe Coppock: | 8.09 |
| MA7: | 0.318386 | |
| MA20: | 0.329905 | |
| MA50: | 0.272566 | |
| MA100: | 0.244928 | |
| MAexp7: | 0.314561 | |
| MAexp20: | 0.312599 | |
| MAexp50: | 0.314595 | |
| MAexp100: | 0.317297 | |
| Price / MA7: | -1.69% | |
| Price / MA20: | -5.12% | |
| Price / MA50: | +14.83% | |
| Price / MA100: | +27.79% | |
| Price / MAexp7: | -0.50% | |
| Price / MAexp20: | +0.13% | |
| Price / MAexp50: | -0.51% | |
| Price / MAexp100: | -1.35% |
Quotes :
2020-08-03 22:31:48
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Real time data
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