ALGORAND - ALGO/USD - 1H - Technical analysis published on 05/16/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Bearish
Technical indicators
11%
61%
28%
My opinion
Bearish under 1.40 USD
My targets
1.32 USD (-4.35%)
1.28 USD (-7.25%)
My analysis
There is a bearish trend on ALGORAND - ALGO/USD both at the basic level and in the short term. A sale could be considered, so long as the price remains below 1.40 USD. Each support break is a strong signal that the current trend will continue. The first bearish objective would be 1.32 USD. Then the price could move towards 1.28 USD. Then 1.23 USD by extension. Be careful, a return to above the resistance 1.40 USD would be a sign of a weakening of the trend and a possible rebound phase could then occur. In this case, you could keep away while waiting for a signal that the basic trend will resume. Trading against the trend is perhaps more risky.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
5.4
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This analysis was given by imorton777. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
ALGORAND - ALGO/USD rating 1.38 USD. The price has increased by +0.00% since the last closing with the lowest point at 1.34 USD and the highest point at 1.54 USD. The deviation from the price is +2.99% for the low point and -10.39% for the high point.1.34
1.54
1.38
Here is a more detailed summary of the historical variations registered by ALGORAND - ALGO/USD:
Technical
A technical analysis in 1H of this ALGORAND - ALGO/USD chart shows a bearish trend. 67.86% of the signals given by moving averages are bearish. This bearish trend is slowing down slightly given the slightly bearish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further decline is moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
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 : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.23 | 1.28 | 1.32 | 1.38 | 1.40 | 1.50 | 1.58 |
| Change (%) | -10.87% | -7.25% | -4.35% | - | +1.45% | +8.70% | +14.49% |
| Change | -0.15 | -0.10 | -0.06 | - | +0.02 | +0.12 | +0.20 |
| Level | Minor | Major | Intermediate | - | Major | Intermediate | Intermediate |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.18 | 1.28 | 1.33 | 1.43 | 1.48 | 1.58 | 1.63 |
| Camarilla | 1.34 | 1.35 | 1.37 | 1.38 | 1.39 | 1.41 | 1.42 |
| Woodie | 1.16 | 1.27 | 1.31 | 1.42 | 1.46 | 1.57 | 1.61 |
| Fibonacci | 1.28 | 1.34 | 1.37 | 1.43 | 1.49 | 1.52 | 1.58 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.89 | 1.06 | 1.22 | 1.39 | 1.55 | 1.72 | 1.88 |
| Camarilla | 1.29 | 1.32 | 1.35 | 1.38 | 1.41 | 1.44 | 1.47 |
| Woodie | 0.89 | 1.06 | 1.22 | 1.39 | 1.55 | 1.72 | 1.88 |
| Fibonacci | 1.06 | 1.19 | 1.26 | 1.39 | 1.52 | 1.59 | 1.72 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 39.37 | |
| MACD (12,26,9): | -0.0200 | |
| Directional Movement: | -16.90 | |
| AROON (14): | -85.71 | |
| DEMA (21): | 1.42 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.49 | |
| Elder Ray (13): | -0.07 | |
| Super Trend (3,10): | 1.48 | |
| Zig ZAG (10): | 1.38 | |
| VORTEX (21): | 0.9300 | |
| Stochastique (14,3,5): | 14.22 | |
| TEMA (21): | 1.39 | |
| Williams %R (14): | -79.40 | |
| Chande Momentum Oscillator (20): | -0.14 | |
| Repulse (5,40,3): | -0.3600 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0200 | |
| Courbe Coppock: | 12.45 |
| MA7: | 1.38 | |
| MA20: | 1.41 | |
| MA50: | 1.37 | |
| MA100: | 1.27 | |
| MAexp7: | 1.39 | |
| MAexp20: | 1.44 | |
| MAexp50: | 1.44 | |
| MAexp100: | 1.43 | |
| Price / MA7: | -0% | |
| Price / MA20: | -2.13% | |
| Price / MA50: | +0.73% | |
| Price / MA100: | +8.66% | |
| Price / MAexp7: | -0.72% | |
| Price / MAexp20: | -4.17% | |
| Price / MAexp50: | -4.17% | |
| Price / MAexp100: | -3.50% |
Quotes :
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Real time data
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