ALGORAND - ALGO/USD - Daily - Technical analysis published on 09/23/2021 (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
50%
22%
28%
My opinion
Bullish above 1.72 USD
My targets
2.16 USD (+6.78%)
2.38 USD (+17.82%)
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 1.72 USD. The next resistance located at 2.16 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 2.38 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
7
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This analysis was given by alphakarl. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The ALGORAND - ALGO/USD rating is 2.02 USD. On the day, this instrument gained +9.19% with the lowest point at 1.79 USD and the highest point at 2.05 USD. The deviation from the price is +12.85% for the low point and -1.46% for the high point.1.79
2.05
2.02
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:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
A technical analysis in Daily of this ALGORAND - ALGO/USD chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : Daily
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : Daily
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : Daily
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : Daily
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
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
RSI indicator is back over 50
Type : Bullish
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near support of channel
Type : Bullish
Timeframe : Daily
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
White morning star
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 1.09 | 1.29 | 1.72 | 2.02 | 2.38 |
| Change (%) | -46.04% | -36.14% | -14.85% | - | +17.82% |
| Change | -0.93 | -0.73 | -0.30 | - | +0.36 |
| Level | Intermediate | Minor | Major | - | 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 | 1.28 | 1.42 | 1.63 | 1.77 | 1.98 | 2.12 | 2.33 |
| Camarilla | 1.75 | 1.79 | 1.82 | 1.85 | 1.88 | 1.91 | 1.95 |
| Woodie | 1.33 | 1.44 | 1.68 | 1.79 | 2.03 | 2.14 | 2.38 |
| Fibonacci | 1.42 | 1.55 | 1.63 | 1.77 | 1.90 | 1.98 | 2.12 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.09 | 1.48 | 1.77 | 2.16 | 2.45 | 2.84 | 3.13 |
| Camarilla | 1.88 | 1.95 | 2.01 | 2.07 | 2.13 | 2.20 | 2.26 |
| Woodie | 1.05 | 1.46 | 1.73 | 2.14 | 2.41 | 2.82 | 3.09 |
| Fibonacci | 1.48 | 1.74 | 1.90 | 2.16 | 2.42 | 2.58 | 2.84 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.42 | 0.62 | 0.86 | 1.06 | 1.30 | 1.50 | 1.74 |
| Camarilla | 0.99 | 1.03 | 1.07 | 1.11 | 1.15 | 1.19 | 1.23 |
| Woodie | 0.45 | 0.63 | 0.89 | 1.07 | 1.33 | 1.51 | 1.77 |
| Fibonacci | 0.62 | 0.79 | 0.89 | 1.06 | 1.23 | 1.33 | 1.50 |
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): | 58.47 | |
| MACD (12,26,9): | 0.1600 | |
| Directional Movement: | 7.11 | |
| AROON (14): | -57.14 | |
| DEMA (21): | 2.02 | |
| Parabolic SAR (0,02-0,02-0,2): | 2.34 | |
| Elder Ray (13): | 0.05 | |
| Super Trend (3,10): | 1.49 | |
| Zig ZAG (10): | 2.03 | |
| VORTEX (21): | 1.0900 | |
| Stochastique (14,3,5): | 36.37 | |
| TEMA (21): | 2.02 | |
| Williams %R (14): | -48.97 | |
| Chande Momentum Oscillator (20): | 0.05 | |
| Repulse (5,40,3): | 14.4400 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 2.2000 | |
| Courbe Coppock: | 31.53 |
| MA7: | 1.87 | |
| MA20: | 1.86 | |
| MA50: | 1.35 | |
| MA100: | 1.10 | |
| MAexp7: | 1.88 | |
| MAexp20: | 1.79 | |
| MAexp50: | 1.48 | |
| MAexp100: | 1.27 | |
| Price / MA7: | +8.02% | |
| Price / MA20: | +8.60% | |
| Price / MA50: | +49.63% | |
| Price / MA100: | +83.64% | |
| Price / MAexp7: | +7.45% | |
| Price / MAexp20: | +12.85% | |
| Price / MAexp50: | +36.49% | |
| Price / MAexp100: | +59.06% |
Quotes :
-
Real time data
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Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
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