ALGORAND - ALGO/USD - 15 min. - Technical analysis published on 05/24/2021 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
61%
17%
22%
My opinion
Bullish above 0.85 USD
My targets
0.95 USD (+10.81%)
1.01 USD (+17.79%)
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 0.85 USD. The buyers' bullish objective is set at 0.95 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.01 USD. If there is any crossing, the next objective would be the resistance located at 1.21 USD.
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
5.2
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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 0.86 USD. On the day, this instrument gained +4.88% and was traded between 0.81 USD and 0.87 USD over the period. The price is currently at +6.17% from its lowest and -1.15% from its highest.0.81
0.87
0.86
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of this 15 min. chart of ALGORAND - ALGO/USD indicates that the overall trend is bullish. The signals returned by the moving averages are 67.86% bullish. This bullish trend is reinforced by the strong signals currently being 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, 11 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 15 minutes
Price is back over the pivot point
Type : Bullish
Timeframe : 15 minutes
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:
Horizontal support is broken
Type : Bearish
Timeframe : 15 minutes
Support of channel is broken
Type : Bearish
Timeframe : 15 minutes
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.51 | 0.67 | 0.84 | 0.86 | 1.09 | 1.15 | 1.27 |
| Change (%) | -40.70% | -22.09% | -2.33% | - | +26.74% | +33.72% | +47.67% |
| Change | -0.35 | -0.19 | -0.02 | - | +0.23 | +0.29 | +0.41 |
| Level | Minor | Minor | Intermediate | - | Major | 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 | 0.29 | 0.49 | 0.65 | 0.85 | 1.01 | 1.21 | 1.37 |
| Camarilla | 0.72 | 0.75 | 0.79 | 0.82 | 0.85 | 0.89 | 0.92 |
| Woodie | 0.28 | 0.48 | 0.64 | 0.84 | 1.00 | 1.20 | 1.36 |
| Fibonacci | 0.49 | 0.62 | 0.71 | 0.85 | 0.98 | 1.07 | 1.21 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -0.09 | 0.35 | 0.66 | 1.10 | 1.41 | 1.85 | 2.16 |
| Camarilla | 0.76 | 0.83 | 0.90 | 0.97 | 1.04 | 1.11 | 1.18 |
| Woodie | -0.16 | 0.32 | 0.60 | 1.07 | 1.35 | 1.82 | 2.10 |
| Fibonacci | 0.35 | 0.64 | 0.81 | 1.10 | 1.39 | 1.56 | 1.85 |
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): | 58.11 | |
| MACD (12,26,9): | 0.0100 | |
| Directional Movement: | 6.00 | |
| AROON (14): | 35.71 | |
| DEMA (21): | 0.86 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.87 | |
| Elder Ray (13): | 0.01 | |
| Super Trend (3,10): | 0.82 | |
| Zig ZAG (10): | 0.84 | |
| VORTEX (21): | 1.0100 | |
| Stochastique (14,3,5): | 76.64 | |
| TEMA (21): | 0.86 | |
| Williams %R (14): | -33.41 | |
| Chande Momentum Oscillator (20): | 0.02 | |
| Repulse (5,40,3): | 0.5700 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1900 | |
| Courbe Coppock: | 4.00 |
| MA7: | 1.01 | |
| MA20: | 1.28 | |
| MA50: | 1.33 | |
| MA100: | 1.26 | |
| MAexp7: | 0.85 | |
| MAexp20: | 0.84 | |
| MAexp50: | 0.83 | |
| MAexp100: | 0.85 | |
| Price / MA7: | -14.85% | |
| Price / MA20: | -32.81% | |
| Price / MA50: | -35.34% | |
| Price / MA100: | -31.75% | |
| Price / MAexp7: | +1.18% | |
| Price / MAexp20: | +2.38% | |
| Price / MAexp50: | +3.61% | |
| Price / MAexp100: | +1.18% |
Quotes :
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Real time data
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