ALGORAND - ALGO/USD

- USD (-)

- Real time data - Cryptocompare

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Cryptocurrencies
Ticker:	ALGOUSD
ISIN:

ALGORAND - ALGO/USD - Daily - Technical analysis published on 08/10/2020 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Court terme: Strongly bullish

De fond: Strongly bullish

Technical indicators

83%

17%

My opinion

Bullish above 0.417867 USD

My targets

0.496900 USD (+5.68%)

My analysis

All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on ALGORAND - ALGO/USD as long as the price remains well above 0.417867 USD. The buyers” bullish objective is set at 0.496900 USD. A bullish break in this resistance would boost the bullish momentum. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.

Force

8.8

Comment on the analysis

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 circumstances, 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.

This analysis was given by AKOUSA. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The ALGORAND - ALGO/USD price is 0.470200 USD. The price registered an increase of +10.66% on the session and was between 0.410400 USD and 0.487600 USD. This implies that the price is at +14.57% from its lowest and at -3.57% from its highest.

0.410400

0.487600

0.470200

The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Bearish opening

Type : Bearish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by ALGORAND - ALGO/USD:

The Central Records scanner, which identifies the highest / lowest, has detected an element:

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Abnormal volumes on ALGORAND - ALGO/USD were detected by the Central Volumes scanner:

Abnormal volumes

Timeframe : 5 days

Abnormal volumes

Timeframe : 20 days

Technical

A technical analysis in Daily of this ALGORAND - ALGO/USD chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Previous candle closed over Bollinger bands

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Other results related to technical indicators were also found by the Central Indicators scanner:

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

Price is back under the pivot point

Type : Bearish

Timeframe : Daily

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:

Near resistance of channel

Type : Bearish

Timeframe : Daily

Near resistance of triangle

Type : Bearish

Timeframe : Daily

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1
ProTrendLines	0.248753	0.332650	0.390000	0.470200	0.496900
Change (%)	-47.10%	-29.25%	-17.06%	-	+5.68%
Change	-0.221447	-0.137550	-0.080200	-	+0.026700
Level	Major	Minor	Intermediate	-	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	0.339867	0.375633	0.400267	0.436033	0.460667	0.496433	0.521067
Camarilla	0.408290	0.413827	0.419363	0.424900	0.430437	0.435973	0.441510
Woodie	0.334300	0.372850	0.394700	0.433250	0.455100	0.493650	0.515500
Fibonacci	0.375633	0.398706	0.412961	0.436033	0.459106	0.473361	0.496433

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.145167	0.209533	0.331067	0.395433	0.516967	0.581333	0.702867
Camarilla	0.401478	0.418518	0.435559	0.452600	0.469641	0.486682	0.503723
Woodie	0.173750	0.223825	0.359650	0.409725	0.545550	0.595625	0.731450
Fibonacci	0.209533	0.280547	0.324420	0.395433	0.466447	0.510320	0.581333

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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators

Moving averages

RSI (14):	69.44
MACD (12,26,9):	0.0325
Directional Movement:	21.638395
AROON (14):	92.857140
DEMA (21):	0.393556
Parabolic SAR (0,02-0,02-0,2):	0.313521
Elder Ray (13):	0.059185
Super Trend (3,10):	0.319772
Zig ZAG (10):	0.440400
VORTEX (21):	1.0875
Stochastique (14,3,5):	85.76
TEMA (21):	0.407395
Williams %R (14):	-15.87
Chande Momentum Oscillator (20):	0.132200
Repulse (5,40,3):	12.9140
ROCnROLL:	1
TRIX (15,9):	0.9991
Courbe Coppock:	45.18

MA7:	0.387971
MA20:	0.342970
MA50:	0.294002
MA100:	0.256730
MAexp7:	0.398451
MAexp20:	0.354868
MAexp50:	0.310786
MAexp100:	0.278031
Price / MA7:	+21.19%
Price / MA20:	+37.10%
Price / MA50:	+59.93%
Price / MA100:	+83.15%
Price / MAexp7:	+18.01%
Price / MAexp20:	+32.50%
Price / MAexp50:	+51.29%
Price / MAexp100:	+69.12%

Quotes : 2020-08-10 18:29:10 - Real time data - Cryptocompare

This member declared not having a position on this financial instrument or a related financial instrument.

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