ALGORAND - ALGO/USD
ALGORAND - ALGO/USD
- USD (-)
- Real time data - Cryptocompare
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Cryptocurrencies
Ticker: ALGOUSD
ISIN:

ALGORAND - ALGO/USD - 1H - Technical analysis published on 09/13/2020 (GMT)

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  • Timeframe : 1H
  • - Analysis generated on
  • Status : LEVEL MAINTAINED

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Summary of the analysis

Trends
Court terme: Strongly bearish
De fond: Bearish
Technical indicators
11%
78%
11%
My opinion
Bearish under 0.390433 USD
My targets
0.355600 USD (-5.43%)
0.342300 USD (-8.96%)
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 0.390433 USD. The sellers” bearish objective is set at 0.355600 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 0.342300 USD. In case of crossing, the next objective would be the support located at 0.315600 USD.

Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
5.7

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.

Additional analysis

Quotes

The ALGORAND - ALGO/USD price is 0.376000 USD. The price is lower by -8.07% since the last closing with the lowest point at 0.370300 USD and the highest point at 0.415900 USD. The deviation from the price is +1.54% for the low point and -9.59% for the high point.

0.370300
0.415900
0.376000

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.

Central Gaps

Bearish opening

Type : Bearish

Timeframe : Openning



Here is a more detailed summary of the historical variations registered by ALGORAND - ALGO/USD:
The Central Volumes scanner notes the presence of abnormal volumes:

Central Volumes

Abnormal volumes

Timeframe : 50 days

Technical


A technical analysis in 1H of this ALGORAND - ALGO/USD chart shows a bearish trend. The signals given by moving averages are 67.86% bearish. This bearish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

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

Central Indicators

RSI indicator is oversold : under 30

Type : Neutral

Timeframe : 1 hour


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

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Central Indicators

Pivot points : price is under support 3

Type : Neutral

Timeframe : 1 hour


Price is back over the pivot point

Type : Bullish

Timeframe : Weekly



Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:

Central Patterns

Near support of channel

Type : Bullish

Timeframe : 1 hour



The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 0.315600 0.342300 0.355600 0.376000 0.390433 0.410833 0.448444
Change (%) -16.06% -8.96% -5.43% - +3.84% +9.26% +19.27%
Change -0.060400 -0.033700 -0.020400 - +0.014433 +0.034833 +0.072444
Level Minor Intermediate Minor - Intermediate Minor Major



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
Standard0.3786000.3882000.3986000.4082000.4186000.4282000.438600
Camarilla0.4035000.4053330.4071670.4090000.4108330.4126670.414500
Woodie0.3790000.3884000.3990000.4084000.4190000.4284000.439000
Fibonacci0.3882000.3958400.4005600.4082000.4158400.4205600.428200


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard0.2064670.2627330.3358670.3921330.4652670.5215330.594667
Camarilla0.3734150.3852770.3971380.4090000.4208620.4327230.444585
Woodie0.2149000.2669500.3443000.3963500.4737000.5257500.603100
Fibonacci0.2627330.3121640.3427030.3921330.4415640.4721030.521533


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard-0.2259670.0239670.2631330.5130670.7522331.0021671.241333
Camarilla0.3677980.4126320.4574660.5023000.5471340.5919680.636803
Woodie-0.2313500.0212750.2577500.5103750.7468500.9994751.235950
Fibonacci0.0239670.2108030.3262310.5130670.6999030.8153311.002167

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): 27.91
MACD (12,26,9): -0.0056
Directional Movement: -20.921344
AROON (14): -35.714287
DEMA (21): 0.391711
Parabolic SAR (0,02-0,02-0,2): 0.411404
Elder Ray (13): -0.019586
Super Trend (3,10): 0.399209
Zig ZAG (10): 0.377300
VORTEX (21): 0.8126
Stochastique (14,3,5): 6.44
TEMA (21): 0.386592
Williams %R (14): -89.04
Chande Momentum Oscillator (20): -0.027000
Repulse (5,40,3): -4.6204
ROCnROLL: 2
TRIX (15,9): -0.0503
Courbe Coppock: 7.50
MA7: 0.392014
MA20: 0.444585
MA50: 0.454276
MA100: 0.356265
MAexp7: 0.387670
MAexp20: 0.397351
MAexp50: 0.400014
MAexp100: 0.395947
Price / MA7: -4.09%
Price / MA20: -15.43%
Price / MA50: -17.23%
Price / MA100: +5.54%
Price / MAexp7: -3.01%
Price / MAexp20: -5.37%
Price / MAexp50: -6.00%
Price / MAexp100: -5.04%

Quotes : 2020-09-13 14:02:00 - Real time data - Cryptocompare

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

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