ALGORAND - ALGO/USD - 1H - Technical analysis published on 08/13/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
78%
11%
11%
My opinion
Bullish above 0.496900 USD
My targets
0.516967 USD (+0.07%)
0.581333 USD (+12.53%)
My analysis
The bullish trend is currently very strong on ALGORAND - ALGO/USD. As long as the price remains above the support at 0.496900 USD, you could try to benefit from the boom. The first bullish objective is located at 0.516967 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 0.581333 USD as an objective. Crossing it would then enable buyers to target 0.702867 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
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
0
10
8.2
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This analysis was given by AKOUSA. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
ALGORAND - ALGO/USD rating 0.516600 USD. The price is lower by -1.45% since the last closing with the lowest point at 0.508500 USD and the highest point at 0.536600 USD. The deviation from the price is +1.59% for the low point and -3.73% for the high point.0.508500
0.536600
0.516600
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
The Central Volumes scanner detects abnormal volumes on the asset:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Technical
Technical analysis of ALGORAND - ALGO/USD in 1H shows a strongly overall 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 : 1 hour
MACD indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 0.410807 | 0.441978 | 0.496900 | 0.516600 |
| Change (%) | -20.48% | -14.44% | -3.81% | - |
| Change | -0.105793 | -0.074622 | -0.019700 | - |
| Level | Intermediate | Minor | Major | - |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.300533 | 0.354067 | 0.439133 | 0.492667 | 0.577733 | 0.631267 | 0.716333 |
| Camarilla | 0.486085 | 0.498790 | 0.511495 | 0.524200 | 0.536905 | 0.549610 | 0.562315 |
| Woodie | 0.316300 | 0.361950 | 0.454900 | 0.500550 | 0.593500 | 0.639150 | 0.732100 |
| Fibonacci | 0.354067 | 0.407012 | 0.439722 | 0.492667 | 0.545612 | 0.578322 | 0.631267 |
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 the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 70.09 | |
| MACD (12,26,9): | 0.0201 | |
| Directional Movement: | 23.731171 | |
| AROON (14): | 85.714283 | |
| DEMA (21): | 0.497306 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.485100 | |
| Elder Ray (13): | 0.039155 | |
| Super Trend (3,10): | 0.464440 | |
| Zig ZAG (10): | 0.518400 | |
| VORTEX (21): | 1.2532 | |
| Stochastique (14,3,5): | 81.00 | |
| TEMA (21): | 0.510852 | |
| Williams %R (14): | -32.60 | |
| Chande Momentum Oscillator (20): | 0.050600 | |
| Repulse (5,40,3): | -1.5838 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.4176 | |
| Courbe Coppock: | 29.75 |
| MA7: | 0.456429 | |
| MA20: | 0.368870 | |
| MA50: | 0.309560 | |
| MA100: | 0.265599 | |
| MAexp7: | 0.485668 | |
| MAexp20: | 0.475066 | |
| MAexp50: | 0.456289 | |
| MAexp100: | 0.439918 | |
| Price / MA7: | +13.18% | |
| Price / MA20: | +40.05% | |
| Price / MA50: | +66.88% | |
| Price / MA100: | +94.50% | |
| Price / MAexp7: | +6.37% | |
| Price / MAexp20: | +8.74% | |
| Price / MAexp50: | +13.22% | |
| Price / MAexp100: | +17.43% |
Quotes :
2020-08-13 00:52:08
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Real time data
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