ALGORAND - ALGO/USD - Daily - Technical analysis published on 03/06/2021 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bullish
Technical indicators
17%
50%
33%
My opinion
Bullish above 0.97 USD
My targets
1.16 USD (+11.73%)
1.40 USD (+34.33%)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers” generally have the upper hand, even if a small correction (not tradeable) on the support located at 0.97 USD remains possible. It is advisable to trade ALGORAND - ALGO/USD with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 0.97 USD. The next bullish objective for buyers is set at 1.16 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.40 USD. If there is any crossing, the next objective would be the resistance located at 1.72 USD. PS: if there is a bearish break in the support located at 0.97 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
Technical indicators are opposing the general bullish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
1.4
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The ALGORAND - ALGO/USD price is 1.04 USD. On the day, this instrument lost -0.95% and was between 1.00 USD and 1.07 USD. This implies that the price is at +4.00% from its lowest and at -2.80% from its highest.1.00
1.07
1.04
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:
Technical
Technical analysis of ALGORAND - ALGO/USD in Daily shows an overall bullish trend. 71.43% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish price crossover with adaptative moving average 100
Type : Bearish
Timeframe : Daily
In fact, according to the parameters integrated into the Central Analyzer system, only 9 technical indicators out of 18 analysed are currently bearish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
RSI indicator is back under 50
Type : Bearish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near resistance of triangle
Type : Bearish
Timeframe : Daily
Near support of channel
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 0.52 | 0.63 | 0.97 | 1.04 | 1.40 | 1.72 |
| Change (%) | -50.38% | -39.50% | -6.66% | - | +34.33% | +65.58% |
| Change | -0.52 | -0.41 | -0.07 | - | +0.36 | +0.68 |
| Level | Minor | Minor | Major | - | 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 | 0.92 | 0.96 | 1.01 | 1.05 | 1.10 | 1.14 | 1.19 |
| Camarilla | 1.03 | 1.04 | 1.05 | 1.06 | 1.06 | 1.07 | 1.08 |
| Woodie | 0.92 | 0.96 | 1.01 | 1.05 | 1.10 | 1.14 | 1.19 |
| Fibonacci | 0.96 | 1.00 | 1.02 | 1.05 | 1.09 | 1.11 | 1.14 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.30 | 0.57 | 0.81 | 1.08 | 1.33 | 1.60 | 1.84 |
| Camarilla | 0.91 | 0.96 | 1.01 | 1.05 | 1.10 | 1.15 | 1.20 |
| Woodie | 0.29 | 0.56 | 0.80 | 1.08 | 1.31 | 1.59 | 1.82 |
| Fibonacci | 0.57 | 0.77 | 0.89 | 1.08 | 1.28 | 1.40 | 1.60 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -0.76 | -0.07 | 0.48 | 1.16 | 1.71 | 2.39 | 2.94 |
| Camarilla | 0.68 | 0.80 | 0.91 | 1.02 | 1.13 | 1.25 | 1.36 |
| Woodie | -0.83 | -0.10 | 0.41 | 1.13 | 1.64 | 2.36 | 2.87 |
| Fibonacci | -0.07 | 0.40 | 0.69 | 1.16 | 1.63 | 1.92 | 2.39 |
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): | 47.19 | |
| MACD (12,26,9): | 0.0100 | |
| Directional Movement: | 4.32 | |
| AROON (14): | -21.43 | |
| DEMA (21): | 1.14 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.86 | |
| Elder Ray (13): | -0.06 | |
| Super Trend (3,10): | 1.55 | |
| Zig ZAG (10): | 1.03 | |
| VORTEX (21): | 0.9000 | |
| Stochastique (14,3,5): | 36.14 | |
| TEMA (21): | 1.05 | |
| Williams %R (14): | -62.13 | |
| Chande Momentum Oscillator (20): | -0.11 | |
| Repulse (5,40,3): | -6.2200 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.6600 | |
| Courbe Coppock: | 35.79 |
| MA7: | 1.08 | |
| MA20: | 1.16 | |
| MA50: | 0.93 | |
| MA100: | 0.65 | |
| MAexp7: | 1.08 | |
| MAexp20: | 1.09 | |
| MAexp50: | 0.95 | |
| MAexp100: | 0.76 | |
| Price / MA7: | -3.70% | |
| Price / MA20: | -10.34% | |
| Price / MA50: | +11.83% | |
| Price / MA100: | +60.00% | |
| Price / MAexp7: | -3.70% | |
| Price / MAexp20: | -4.59% | |
| Price / MAexp50: | +9.47% | |
| Price / MAexp100: | +36.84% |
Quotes :
2021-03-06 16:32:22
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Real time data
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