ALGORAND - ALGO/USD - 1H - Technical analysis published on 09/25/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
61%
17%
22%
My opinion
Bullish above 0.303360 USD
My targets
0.325800 USD (+5.30%)
0.342300 USD (+10.63%)
My analysis
The bullish trend is currently very strong on ALGORAND - ALGO/USD. As long as the price remains above the support at 0.303360 USD, you could try to benefit from the boom. The first bullish objective is located at 0.325800 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 0.342300 USD as an objective. Crossing it would then enable buyers to target 0.359000 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.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
6.4
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This analysis was given by Vincent Launay.
Additional analysis
Quotes
ALGORAND - ALGO/USD rating 0.309400 USD. On the day, this instrument gained +5.20% with the lowest point at 0.288400 USD and the highest point at 0.313100 USD. The deviation from the price is +7.28% for the low point and -1.18% for the high point.0.288400
0.313100
0.309400
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of this 1H chart of ALGORAND - ALGO/USD indicates that the overall trend is strongly bullish. The signals given by the moving averages are 82.14% 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.
In fact, 11 technical indicators on 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.263478 | 0.276656 | 0.303360 | 0.309400 | 0.325800 | 0.342300 | 0.359000 |
| Change (%) | -14.84% | -10.58% | -1.95% | - | +5.30% | +10.63% | +16.03% |
| Change | -0.045922 | -0.032744 | -0.006040 | - | +0.016400 | +0.032900 | +0.049600 |
| Level | Minor | Intermediate | Intermediate | - | Intermediate | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.232533 | 0.248167 | 0.271133 | 0.286767 | 0.309733 | 0.325367 | 0.348333 |
| Camarilla | 0.283485 | 0.287023 | 0.290562 | 0.294100 | 0.297638 | 0.301177 | 0.304715 |
| Woodie | 0.236200 | 0.250000 | 0.274800 | 0.288600 | 0.313400 | 0.327200 | 0.352000 |
| Fibonacci | 0.248167 | 0.262912 | 0.272022 | 0.286767 | 0.301512 | 0.310622 | 0.325367 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.216467 | 0.271133 | 0.306567 | 0.361233 | 0.396667 | 0.451333 | 0.486767 |
| Camarilla | 0.317223 | 0.325482 | 0.333741 | 0.342000 | 0.350259 | 0.358518 | 0.366778 |
| Woodie | 0.206850 | 0.266325 | 0.296950 | 0.356425 | 0.387050 | 0.446525 | 0.477150 |
| Fibonacci | 0.271133 | 0.305552 | 0.326815 | 0.361233 | 0.395652 | 0.416915 | 0.451333 |
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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 59.99 | |
| MACD (12,26,9): | 0.0034 | |
| Directional Movement: | 8.749376 | |
| AROON (14): | 14.285714 | |
| DEMA (21): | 0.302094 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.291100 | |
| Elder Ray (13): | 0.003181 | |
| Super Trend (3,10): | 0.285027 | |
| Zig ZAG (10): | 0.305800 | |
| VORTEX (21): | 1.0660 | |
| Stochastique (14,3,5): | 55.50 | |
| TEMA (21): | 0.303446 | |
| Williams %R (14): | -25.96 | |
| Chande Momentum Oscillator (20): | 0.005100 | |
| Repulse (5,40,3): | 3.7157 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.2063 | |
| Courbe Coppock: | 1.88 |
| MA7: | 0.304771 | |
| MA20: | 0.352320 | |
| MA50: | 0.456014 | |
| MA100: | 0.366260 | |
| MAexp7: | 0.302271 | |
| MAexp20: | 0.297282 | |
| MAexp50: | 0.293529 | |
| MAexp100: | 0.297976 | |
| Price / MA7: | +1.52% | |
| Price / MA20: | -12.18% | |
| Price / MA50: | -32.15% | |
| Price / MA100: | -15.52% | |
| Price / MAexp7: | +2.36% | |
| Price / MAexp20: | +4.08% | |
| Price / MAexp50: | +5.41% | |
| Price / MAexp100: | +3.83% |
Quotes :
2020-09-25 16:43:28
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Real time data
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Cryptocompare
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