ALGORAND - ALGO/USD

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Type:	Cryptocurrencies
Ticker:	ALGOUSD
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ALGORAND - ALGO/USD - Daily - Technical analysis published on 02/12/2021 (GMT)

Timeframe : Daily
- Analysis generated on
Status : WITHOUT TARGET

Summary of the analysis

Trends

Court terme: Strongly bullish

De fond: Strongly bullish

Technical indicators

94%

My opinion

Bullish above 1.17 USD

My targets

My analysis

The bullish trend is currently very strong on ALGORAND - ALGO/USD. As long as the price remains above the support at 1.17 USD, you could try to benefit from the boom. 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

9.1

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 1.74 USD. On the day, this instrument gained +40.32% and was traded between 1.18 USD and 1.85 USD over the period. The price is currently at +47.46% from its lowest and -5.95% from its highest.

1.18

1.85

1.74

Here is a more detailed summary of the historical variations registered by ALGORAND - ALGO/USD:

The study of the highest / lowest by the Central Records scanner shows the following results:

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 ALGORAND - ALGO/USD in Daily shows a strongly overall 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 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, 17 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

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:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Daily

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Weekly

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

Resistance of channel is broken

Type : Bullish

Timeframe : Daily

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price
ProTrendLines	0.35	0.54	0.67	1.74
Change (%)	-80.17%	-68.84%	-61.65%	-
Change	-1.39	-1.20	-1.07	-
Level	Minor	Minor	Intermediate	-

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	0.81	0.92	1.08	1.19	1.35	1.46	1.62
Camarilla	1.17	1.19	1.22	1.24	1.27	1.29	1.32
Woodie	0.84	0.93	1.11	1.21	1.38	1.48	1.65
Fibonacci	0.92	1.03	1.09	1.19	1.30	1.36	1.46

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.38	0.50	0.66	0.77	0.93	1.05	1.20
Camarilla	0.74	0.76	0.79	0.81	0.84	0.86	0.89
Woodie	0.40	0.51	0.67	0.78	0.95	1.06	1.22
Fibonacci	0.50	0.60	0.67	0.77	0.88	0.94	1.05

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.05	0.19	0.42	0.56	0.79	0.94	1.17
Camarilla	0.55	0.59	0.62	0.65	0.69	0.72	0.76
Woodie	0.10	0.21	0.47	0.59	0.84	0.96	1.21
Fibonacci	0.19	0.33	0.42	0.56	0.71	0.79	0.94

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):	90.63
MACD (12,26,9):	0.2000
Directional Movement:	47.02
AROON (14):	100.00
DEMA (21):	1.11
Parabolic SAR (0,02-0,02-0,2):	0.90
Elder Ray (13):	0.44
Super Trend (3,10):	0.94
Zig ZAG (10):	1.69
VORTEX (21):	1.2800
Stochastique (14,3,5):	92.81
TEMA (21):	1.26
Williams %R (14):	-1.75
Chande Momentum Oscillator (20):	1.09
Repulse (5,40,3):	60.6700
ROCnROLL:	1
TRIX (15,9):	3.0600
Courbe Coppock:	180.15

MA7:	1.10
MA20:	0.80
MA50:	0.59
MA100:	0.45
MAexp7:	1.18
MAexp20:	0.88
MAexp50:	0.66
MAexp100:	0.53
Price / MA7:	+58.18%
Price / MA20:	+117.50%
Price / MA50:	+194.92%
Price / MA100:	+286.67%
Price / MAexp7:	+47.46%
Price / MAexp20:	+97.73%
Price / MAexp50:	+163.64%
Price / MAexp100:	+228.30%

Quotes : 2021-02-12 16:37:02 - Real time data - Cryptocompare

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

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