ALGORAND - ALGO/USD - 1H - Technical analysis published on 09/04/2020 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
56%
6%
39%
My opinion
Bearish under 0.388933 USD
My targets
0.286867 USD (-18.76%)
0.263133 USD (-25.48%)
My analysis
ALGORAND - ALGO/USD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 0.388933 USD. The next support located at 0.286867 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 0.263133 USD. Below this support, sellers could then target 0.248753 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem 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
4.5
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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 0.353100 USD. The price registered an increase of +0.83% on the session and was between 0.335800 USD and 0.379000 USD. This implies that the price is at +5.15% from its lowest and at -6.83% from its highest.0.335800
0.379000
0.353100
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of this 1H chart of ALGORAND - ALGO/USD indicates that the overall trend is strongly bearish. The signals given by moving averages are 92.86% bearish. This strong bearish 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.
In fact, 10 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Horizontal support is broken
Type : Bearish
Timeframe : 1 hour
Support of triangle is broken
Type : Bearish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Black hanging man / hammer
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.126300 | 0.204414 | 0.248753 | 0.353100 | 0.390433 | 0.431700 | 0.448800 |
| Change (%) | -64.23% | -42.11% | -29.55% | - | +10.57% | +22.26% | +27.10% |
| Change | -0.226800 | -0.148686 | -0.104347 | - | +0.037333 | +0.078600 | +0.095700 |
| Level | Minor | Intermediate | Major | - | 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 | 0.164733 | 0.250467 | 0.300333 | 0.386067 | 0.435933 | 0.521667 | 0.571533 |
| Camarilla | 0.312910 | 0.325340 | 0.337770 | 0.350200 | 0.362630 | 0.375060 | 0.387490 |
| Woodie | 0.146800 | 0.241500 | 0.282400 | 0.377100 | 0.418000 | 0.512700 | 0.553600 |
| Fibonacci | 0.250467 | 0.302266 | 0.334268 | 0.386067 | 0.437866 | 0.469868 | 0.521667 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.286867 | 0.388933 | 0.461567 | 0.563633 | 0.636267 | 0.738333 | 0.810967 |
| Camarilla | 0.486158 | 0.502172 | 0.518186 | 0.534200 | 0.550214 | 0.566228 | 0.582243 |
| Woodie | 0.272150 | 0.381575 | 0.446850 | 0.556275 | 0.621550 | 0.730975 | 0.796250 |
| Fibonacci | 0.388933 | 0.455669 | 0.496898 | 0.563633 | 0.630369 | 0.671598 | 0.738333 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -0.225967 | 0.023967 | 0.263133 | 0.513067 | 0.752233 | 1.002167 | 1.241333 |
| Camarilla | 0.367798 | 0.412632 | 0.457466 | 0.502300 | 0.547134 | 0.591968 | 0.636803 |
| Woodie | -0.231350 | 0.021275 | 0.257750 | 0.510375 | 0.746850 | 0.999475 | 1.235950 |
| Fibonacci | 0.023967 | 0.210803 | 0.326231 | 0.513067 | 0.699903 | 0.815331 | 1.002167 |
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): | 43.89 | |
| MACD (12,26,9): | -0.0181 | |
| Directional Movement: | -16.759213 | |
| AROON (14): | 21.428569 | |
| DEMA (21): | 0.351270 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.341461 | |
| Elder Ray (13): | 0.003117 | |
| Super Trend (3,10): | 0.384807 | |
| Zig ZAG (10): | 0.374500 | |
| VORTEX (21): | 0.9207 | |
| Stochastique (14,3,5): | 74.70 | |
| TEMA (21): | 0.355285 | |
| Williams %R (14): | -7.64 | |
| Chande Momentum Oscillator (20): | 0.014900 | |
| Repulse (5,40,3): | 3.5416 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.8606 | |
| Courbe Coppock: | 7.20 |
| MA7: | 0.466186 | |
| MA20: | 0.538480 | |
| MA50: | 0.447410 | |
| MA100: | 0.343112 | |
| MAexp7: | 0.368804 | |
| MAexp20: | 0.379383 | |
| MAexp50: | 0.418670 | |
| MAexp100: | 0.456262 | |
| Price / MA7: | -24.26% | |
| Price / MA20: | -34.43% | |
| Price / MA50: | -21.08% | |
| Price / MA100: | +2.91% | |
| Price / MAexp7: | -4.26% | |
| Price / MAexp20: | -6.93% | |
| Price / MAexp50: | -15.66% | |
| Price / MAexp100: | -22.61% |
Quotes :
2020-09-04 15:03:04
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Real time data
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Cryptocompare
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