ALGORAND - ALGO/USD - 1H - Technical analysis published on 01/06/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
78%
6%
17%
My opinion
Bullish above 0.495100 USD
My targets
0.513200 USD (+1.60%)
0.531100 USD (+5.15%)
My analysis
The bullish trend is currently very strong on ALGORAND - ALGO/USD. As long as the price remains above the support at 0.495100 USD, you could try to benefit from the boom. The first bullish objective is located at 0.513200 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 0.531100 USD as an objective. Crossing it would then enable buyers to target 0.629233 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, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.4
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Additional analysis
Quotes
The ALGORAND - ALGO/USD price is 0.505100 USD. The price registered an increase of +5.08% on the session and was traded between 0.459700 USD and 0.532000 USD over the period. The price is currently at +9.88% from its lowest and -5.06% from its highest.0.459700
0.532000
0.505100
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
A study of price movements over other periods shows the following variations:
Abnormal volumes
Timeframe : 5 days
Technical
Technical analysis of ALGORAND - ALGO/USD in 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 14 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
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 : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Horizontal support is broken
Type : Bearish
Timeframe : 1 hour
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Bullish harami
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 0.405120 | 0.463700 | 0.495100 | 0.505100 | 0.531100 | 0.629233 | 0.671400 |
Change (%) | -19.79% | -8.20% | -1.98% | - | +5.15% | +24.58% | +32.92% |
Change | -0.099980 | -0.041400 | -0.010000 | - | +0.026000 | +0.124133 | +0.166300 |
Level | Minor | Major | Intermediate | - | Minor | 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 | 0.333000 | 0.368300 | 0.424500 | 0.459800 | 0.516000 | 0.551300 | 0.607500 |
Camarilla | 0.455538 | 0.463925 | 0.472313 | 0.480700 | 0.489088 | 0.497475 | 0.505863 |
Woodie | 0.343450 | 0.373525 | 0.434950 | 0.465025 | 0.526450 | 0.556525 | 0.617950 |
Fibonacci | 0.368300 | 0.403253 | 0.424847 | 0.459800 | 0.494753 | 0.516347 | 0.551300 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 0.154900 | 0.227900 | 0.318000 | 0.391000 | 0.481100 | 0.554100 | 0.644200 |
Camarilla | 0.363248 | 0.378198 | 0.393149 | 0.408100 | 0.423051 | 0.438002 | 0.452953 |
Woodie | 0.163450 | 0.232175 | 0.326550 | 0.395275 | 0.489650 | 0.558375 | 0.652750 |
Fibonacci | 0.227900 | 0.290204 | 0.328696 | 0.391000 | 0.453304 | 0.491796 | 0.554100 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 0.152600 | 0.209600 | 0.272800 | 0.329800 | 0.393000 | 0.450000 | 0.513200 |
Camarilla | 0.302945 | 0.313963 | 0.324982 | 0.336000 | 0.347018 | 0.358037 | 0.369055 |
Woodie | 0.155700 | 0.211150 | 0.275900 | 0.331350 | 0.396100 | 0.451550 | 0.516300 |
Fibonacci | 0.209600 | 0.255516 | 0.283884 | 0.329800 | 0.375716 | 0.404084 | 0.450000 |
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): | 61.33 | |
MACD (12,26,9): | 0.0136 | |
Directional Movement: | 14.969891 | |
AROON (14): | 57.142854 | |
DEMA (21): | 0.504541 | |
Parabolic SAR (0,02-0,02-0,2): | 0.476794 | |
Elder Ray (13): | 0.019787 | |
Super Trend (3,10): | 0.460896 | |
Zig ZAG (10): | 0.507100 | |
VORTEX (21): | 1.1027 | |
Stochastique (14,3,5): | 62.66 | |
TEMA (21): | 0.507263 | |
Williams %R (14): | -34.85 | |
Chande Momentum Oscillator (20): | 0.039400 | |
Repulse (5,40,3): | -1.5562 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.3516 | |
Courbe Coppock: | 12.48 |
MA7: | 0.428229 | |
MA20: | 0.364880 | |
MA50: | 0.335462 | |
MA100: | 0.314220 | |
MAexp7: | 0.500044 | |
MAexp20: | 0.487253 | |
MAexp50: | 0.464984 | |
MAexp100: | 0.441385 | |
Price / MA7: | +17.95% | |
Price / MA20: | +38.43% | |
Price / MA50: | +50.57% | |
Price / MA100: | +60.75% | |
Price / MAexp7: | +1.01% | |
Price / MAexp20: | +3.66% | |
Price / MAexp50: | +8.63% | |
Price / MAexp100: | +14.44% |
Quotes :
2021-01-06 17:28:12
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Real time data
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Cryptocompare
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