ALGORAND - ALGO/USD - Daily - Technical analysis published on 05/14/2021 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
28%
22%
50%
My opinion
Bullish above 1.28 USD
My targets
1.58 USD (+12.86%)
1.72 USD (+22.86%)
My analysis
ALGORAND - ALGO/USD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 1.28 USD. The next resistance located at 1.58 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 1.72 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
Force
0
10
6.3
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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 1.40 USD. The price has increased by +3.70% since the last closing with the lowest point at 1.33 USD and the highest point at 1.41 USD. The deviation from the price is +5.26% for the low point and -0.71% for the high point.1.33
1.41
1.40
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
Here is a more detailed summary of the historical variations registered by ALGORAND - ALGO/USD:
Technical
Technical analysis of ALGORAND - ALGO/USD in Daily shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting several bearish and bullish signals that could impact this trend:
Moving Average bearish crossovers : MA20 & MA50
Type : Bearish
Timeframe : Daily
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : Daily
Bullish price crossover with adaptative moving average 100
Type : Bullish
Timeframe : Daily
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 5 are bullish, 9 are neutral and 4 are bearish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 1.04 | 1.28 | 1.40 | 1.40 | 1.58 | 1.72 |
| Change (%) | -25.71% | -8.57% | 0% | - | +12.86% | +22.86% |
| Change | -0.36 | -0.12 | 0 | - | +0.18 | +0.32 |
| Level | Major | Major | Intermediate | - | 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 | 1.02 | 1.12 | 1.24 | 1.34 | 1.46 | 1.56 | 1.68 |
| Camarilla | 1.29 | 1.31 | 1.33 | 1.35 | 1.37 | 1.39 | 1.41 |
| Woodie | 1.02 | 1.13 | 1.24 | 1.35 | 1.46 | 1.57 | 1.68 |
| Fibonacci | 1.12 | 1.21 | 1.26 | 1.34 | 1.43 | 1.48 | 1.56 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.86 | 1.06 | 1.29 | 1.49 | 1.72 | 1.92 | 2.15 |
| Camarilla | 1.40 | 1.44 | 1.48 | 1.52 | 1.56 | 1.60 | 1.64 |
| Woodie | 0.88 | 1.07 | 1.31 | 1.50 | 1.74 | 1.93 | 2.17 |
| Fibonacci | 1.06 | 1.22 | 1.33 | 1.49 | 1.65 | 1.76 | 1.92 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.08 | 0.51 | 0.95 | 1.38 | 1.82 | 2.25 | 2.69 |
| Camarilla | 1.16 | 1.24 | 1.32 | 1.40 | 1.48 | 1.56 | 1.64 |
| Woodie | 0.10 | 0.51 | 0.97 | 1.38 | 1.84 | 2.25 | 2.71 |
| Fibonacci | 0.51 | 0.84 | 1.04 | 1.38 | 1.71 | 1.91 | 2.25 |
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): | 50.74 | |
| MACD (12,26,9): | 0.0200 | |
| Directional Movement: | -4.56 | |
| AROON (14): | -42.86 | |
| DEMA (21): | 1.42 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.67 | |
| Elder Ray (13): | -0.04 | |
| Super Trend (3,10): | 1.65 | |
| Zig ZAG (10): | 1.40 | |
| VORTEX (21): | 1.1300 | |
| Stochastique (14,3,5): | 22.16 | |
| TEMA (21): | 1.41 | |
| Williams %R (14): | -63.75 | |
| Chande Momentum Oscillator (20): | 0.01 | |
| Repulse (5,40,3): | -0.5100 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.2800 | |
| Courbe Coppock: | 17.64 |
| MA7: | 1.41 | |
| MA20: | 1.38 | |
| MA50: | 1.36 | |
| MA100: | 1.26 | |
| MAexp7: | 1.40 | |
| MAexp20: | 1.39 | |
| MAexp50: | 1.33 | |
| MAexp100: | 1.19 | |
| Price / MA7: | -0.71% | |
| Price / MA20: | +1.45% | |
| Price / MA50: | +2.94% | |
| Price / MA100: | +11.11% | |
| Price / MAexp7: | -0% | |
| Price / MAexp20: | +0.72% | |
| Price / MAexp50: | +5.26% | |
| Price / MAexp100: | +17.65% |
Quotes :
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Real time data
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