ALGORAND - ALGO/USD - 1H - Technical analysis published on 02/05/2021 (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
89%
0%
11%
My opinion
Bullish above 0.809600 USD
My targets
0.915500 USD (+7.76%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on ALGORAND - ALGO/USD as long as the price remains well above 0.809600 USD. The buyers” bullish objective is set at 0.915500 USD. A bullish break in this resistance would boost the bullish momentum. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.9
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This analysis was given by AKOUSA. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
ALGORAND - ALGO/USD rating 0.849600 USD. On the day, this instrument gained +20.14% and was between 0.700100 USD and 0.849600 USD. This implies that the price is at +21.35% from its lowest and at 0% from its highest.0.700100
0.849600
0.849600
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of ALGORAND - ALGO/USD indicates that the overall trend is strongly bullish. 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. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, according to the parameters integrated into the Central Analyzer system, 16 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
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 2
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 0.703600 | 0.738800 | 0.762100 | 0.849600 |
| Change (%) | -17.18% | -13.04% | -10.30% | - |
| Change | -0.146000 | -0.110800 | -0.087500 | - |
| Level | 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 | 0.580000 | 0.627400 | 0.667300 | 0.714700 | 0.754600 | 0.802000 | 0.841900 |
| Camarilla | 0.683193 | 0.691195 | 0.699198 | 0.707200 | 0.715203 | 0.723205 | 0.731208 |
| Woodie | 0.576250 | 0.625525 | 0.663550 | 0.712825 | 0.750850 | 0.800125 | 0.838150 |
| Fibonacci | 0.627400 | 0.660749 | 0.681351 | 0.714700 | 0.748049 | 0.768651 | 0.802000 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.381200 | 0.453400 | 0.559300 | 0.631500 | 0.737400 | 0.809600 | 0.915500 |
| Camarilla | 0.616223 | 0.632548 | 0.648874 | 0.665200 | 0.681526 | 0.697852 | 0.714178 |
| Woodie | 0.398050 | 0.461825 | 0.576150 | 0.639925 | 0.754250 | 0.818025 | 0.932350 |
| Fibonacci | 0.453400 | 0.521434 | 0.563466 | 0.631500 | 0.699534 | 0.741566 | 0.809600 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.049933 | 0.190867 | 0.421833 | 0.562767 | 0.793733 | 0.934667 | 1.165633 |
| Camarilla | 0.550528 | 0.584618 | 0.618709 | 0.652800 | 0.686891 | 0.720982 | 0.755073 |
| Woodie | 0.094950 | 0.213375 | 0.466850 | 0.585275 | 0.838750 | 0.957175 | 1.210650 |
| Fibonacci | 0.190867 | 0.332933 | 0.420701 | 0.562767 | 0.704833 | 0.792601 | 0.934667 |
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): | 74.35 | |
| MACD (12,26,9): | 0.0253 | |
| Directional Movement: | 29.441242 | |
| AROON (14): | 64.285712 | |
| DEMA (21): | 0.792653 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.743707 | |
| Elder Ray (13): | 0.042290 | |
| Super Trend (3,10): | 0.748312 | |
| Zig ZAG (10): | 0.825100 | |
| VORTEX (21): | 1.2553 | |
| Stochastique (14,3,5): | 88.10 | |
| TEMA (21): | 0.810758 | |
| Williams %R (14): | -1.78 | |
| Chande Momentum Oscillator (20): | 0.112400 | |
| Repulse (5,40,3): | 3.9030 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.3185 | |
| Courbe Coppock: | 22.19 |
| MA7: | 0.700714 | |
| MA20: | 0.604865 | |
| MA50: | 0.479766 | |
| MA100: | 0.386983 | |
| MAexp7: | 0.801022 | |
| MAexp20: | 0.762446 | |
| MAexp50: | 0.731554 | |
| MAexp100: | 0.702456 | |
| Price / MA7: | +21.25% | |
| Price / MA20: | +40.46% | |
| Price / MA50: | +77.09% | |
| Price / MA100: | +119.54% | |
| Price / MAexp7: | +6.06% | |
| Price / MAexp20: | +11.43% | |
| Price / MAexp50: | +16.14% | |
| Price / MAexp100: | +20.95% |
Quotes :
2021-02-05 15:53:22
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Real time data
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Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
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