ALGORAND - ALGO/USD

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Type:	Cryptocurrencies
Ticker:	ALGOUSD
ISIN:

ALGORAND - ALGO/USD - Daily - Technical analysis published on 01/08/2021 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Court terme: Strongly bullish

De fond: Strongly bullish

Technical indicators

78%

22%

My opinion

Bullish above 0.393000 USD

My targets

0.531100 USD (+10.07%)

0.629233 USD (+30.41%)

My analysis

The bullish trend is currently very strong on ALGORAND - ALGO/USD. As long as the price remains above the support at 0.393000 USD, you could try to benefit from the boom. The first bullish objective is located at 0.531100 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 0.629233 USD as an objective. Crossing it would then enable buyers to target 0.671400 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

8.6

Comment on the analysis

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. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The ALGORAND - ALGO/USD rating is 0.482500 USD. On the day, this instrument gained +4.64% and was between 0.413100 USD and 0.486700 USD. This implies that the price is at +16.80% from its lowest and at -0.86% from its highest.

0.413100

0.486700

0.482500

The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Bullish opening

Type : Bullish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

Technical

A technical analysis in Daily of this ALGORAND - ALGO/USD chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

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 : Daily

Previous candle closed over Bollinger bands

Type : Neutral

Timeframe : Daily

CCI indicator: bearish divergence

Type : Bearish

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Other results related to technical indicators were also found by the Central Indicators scanner:

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

Price is back under the pivot point

Type : Bearish

Timeframe : Daily

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 resistance is broken

Type : Bullish

Timeframe : Daily

Resistance of channel is broken

Type : Bullish

Timeframe : Daily

Resistance of triangle is broken

Type : Bullish

Timeframe : Daily

For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:

Bearish engulfing lines

Type : Bearish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	0.234000	0.288592	0.357578	0.482500	0.531100	0.629233	0.671400
Change (%)	-51.50%	-40.19%	-25.89%	-	+10.07%	+30.41%	+39.15%
Change	-0.248500	-0.193908	-0.124922	-	+0.048600	+0.146733	+0.188900
Level	Minor	Intermediate	Major	-	Intermediate	Minor	Major

Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.338400	0.386500	0.423800	0.471900	0.509200	0.557300	0.594600
Camarilla	0.437615	0.445443	0.453272	0.461100	0.468928	0.476757	0.484585
Woodie	0.333000	0.383800	0.418400	0.469200	0.503800	0.554600	0.589200
Fibonacci	0.386500	0.419123	0.439277	0.471900	0.504523	0.524677	0.557300

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 the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	67.62
MACD (12,26,9):	0.0422
Directional Movement:	9.649833
AROON (14):	78.571430
DEMA (21):	0.448330
Parabolic SAR (0,02-0,02-0,2):	0.339425
Elder Ray (13):	0.018184
Super Trend (3,10):	0.329259
Zig ZAG (10):	0.464900
VORTEX (21):	1.0871
Stochastique (14,3,5):	77.52
TEMA (21):	0.472637
Williams %R (14):	-29.32
Chande Momentum Oscillator (20):	0.145300
Repulse (5,40,3):	11.2576
ROCnROLL:	1
TRIX (15,9):	1.1615
Courbe Coppock:	82.69

MA7:	0.456800
MA20:	0.376370
MA50:	0.343674
MA100:	0.316777
MAexp7:	0.449938
MAexp20:	0.399960
MAexp50:	0.356383
MAexp100:	0.339602
Price / MA7:	+5.63%
Price / MA20:	+28.20%
Price / MA50:	+40.39%
Price / MA100:	+52.32%
Price / MAexp7:	+7.24%
Price / MAexp20:	+20.64%
Price / MAexp50:	+35.39%
Price / MAexp100:	+42.08%

Quotes : 2021-01-08 14:06:08 - Real time data - Cryptocompare

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

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