ALGORAND - ALGO/USD - 1H - Technical analysis published on 09/05/2020 (GMT)
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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
28%
67%
6%
My opinion
Bearish under 0.388933 USD
My targets
0.286867 USD (-14.88%)
0.263133 USD (-21.92%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on ALGORAND - ALGO/USD as long as the price remains well below 0.388933 USD. The sellers” bearish objective is set at 0.286867 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 0.263133 USD. In case of crossing, the next objective would be the support located at 0.248753 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
7.3
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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 price is 0.337000 USD. The price registered a decrease of -10.25% on the session and was traded between 0.315600 USD and 0.399900 USD over the period. The price is currently at +6.78% from its lowest and -15.73% from its highest.0.315600
0.399900
0.337000
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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Abnormal volumes on ALGORAND - ALGO/USD were detected by the Central Volumes scanner:
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of ALGORAND - ALGO/USD in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 5 are bullish, 1 are neutral and 12 are bearish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
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:
Horizontal support is broken
Type : Bearish
Timeframe : 1 hour
Support of triangle is broken
Type : Bearish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.204414 | 0.248753 | 0.335880 | 0.337000 | 0.390433 | 0.431700 | 0.509500 |
| Change (%) | -39.34% | -26.19% | -0.33% | - | +15.86% | +28.10% | +51.19% |
| Change | -0.132586 | -0.088247 | -0.001120 | - | +0.053433 | +0.094700 | +0.172500 |
| Level | Intermediate | Intermediate | Intermediate | - | Intermediate | Minor | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.292933 | 0.314367 | 0.344933 | 0.366367 | 0.396933 | 0.418367 | 0.448933 |
| Camarilla | 0.361200 | 0.365967 | 0.370733 | 0.375500 | 0.380267 | 0.385033 | 0.389800 |
| Woodie | 0.297500 | 0.316650 | 0.349500 | 0.368650 | 0.401500 | 0.420650 | 0.453500 |
| Fibonacci | 0.314367 | 0.334231 | 0.346503 | 0.366367 | 0.386231 | 0.398503 | 0.418367 |
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): | 37.63 | |
| MACD (12,26,9): | -0.0124 | |
| Directional Movement: | -26.313730 | |
| AROON (14): | -85.714287 | |
| DEMA (21): | 0.341334 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.371886 | |
| Elder Ray (13): | -0.016058 | |
| Super Trend (3,10): | 0.374584 | |
| Zig ZAG (10): | 0.335500 | |
| VORTEX (21): | 0.8371 | |
| Stochastique (14,3,5): | 20.87 | |
| TEMA (21): | 0.339277 | |
| Williams %R (14): | -72.41 | |
| Chande Momentum Oscillator (20): | -0.036900 | |
| Repulse (5,40,3): | 0.8907 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.2953 | |
| Courbe Coppock: | 19.15 |
| MA7: | 0.437429 | |
| MA20: | 0.523600 | |
| MA50: | 0.447136 | |
| MA100: | 0.344169 | |
| MAexp7: | 0.343534 | |
| MAexp20: | 0.356395 | |
| MAexp50: | 0.381164 | |
| MAexp100: | 0.417870 | |
| Price / MA7: | -22.96% | |
| Price / MA20: | -35.64% | |
| Price / MA50: | -24.63% | |
| Price / MA100: | -2.08% | |
| Price / MAexp7: | -1.90% | |
| Price / MAexp20: | -5.44% | |
| Price / MAexp50: | -11.59% | |
| Price / MAexp100: | -19.35% |
Quotes :
2020-09-05 21:23:13
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Real time data
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Cryptocompare
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