ALGORAND - ALGO/USD - 1H - Technical analysis published on 10/26/2021 (GMT)
- 198
- 0
Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
28%
22%
50%
My opinion
Bullish above 1.99 USD
My targets
2.10 USD (+4.11%)
2.27 USD (+12.23%)
My analysis
The basic bullish trend is very strong on ALGORAND - ALGO/USD but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 1.99 USD. Crossing the first resistance at 2.10 USD would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 2.27 USD as an objective. Crossing it would then enable buyers to target 2.38 USD. Caution, a return to below 1.99 USD would be a sign of a consolidation phase in the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
Force
0
10
5.5
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by alphakarl. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
ALGORAND - ALGO/USD rating 2.02 USD. On the day, this instrument lost -1.46% and was traded between 1.96 USD and 2.10 USD over the period. The price is currently at +3.06% from its lowest and -3.81% from its highest.1.96
2.10
2.02
Here is a more detailed summary of the historical variations registered by ALGORAND - ALGO/USD:
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of this 1H chart of ALGORAND - ALGO/USD indicates that the overall trend is strongly bullish. 85.71% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages show a weakening of the global trend. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Other results related to technical indicators were also found by the Central Indicators scanner:
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 1.88 | 1.94 | 1.99 | 2.02 | 2.38 |
| Change (%) | -6.93% | -3.96% | -1.49% | - | +17.82% |
| Change | -0.14 | -0.08 | -0.03 | - | +0.36 |
| Level | Minor | Intermediate | 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 | 1.61 | 1.71 | 1.88 | 1.98 | 2.15 | 2.25 | 2.42 |
| Camarilla | 1.98 | 2.00 | 2.03 | 2.05 | 2.08 | 2.10 | 2.12 |
| Woodie | 1.65 | 1.73 | 1.92 | 2.00 | 2.19 | 2.27 | 2.46 |
| Fibonacci | 1.71 | 1.81 | 1.88 | 1.98 | 2.08 | 2.15 | 2.25 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.49 | 1.58 | 1.75 | 1.84 | 2.01 | 2.10 | 2.27 |
| Camarilla | 1.84 | 1.86 | 1.89 | 1.91 | 1.93 | 1.96 | 1.98 |
| Woodie | 1.52 | 1.60 | 1.78 | 1.86 | 2.04 | 2.12 | 2.30 |
| Fibonacci | 1.58 | 1.68 | 1.74 | 1.84 | 1.94 | 2.00 | 2.10 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -0.47 | 0.32 | 0.97 | 1.76 | 2.41 | 3.20 | 3.85 |
| Camarilla | 1.23 | 1.37 | 1.50 | 1.63 | 1.76 | 1.89 | 2.03 |
| Woodie | -0.53 | 0.29 | 0.91 | 1.73 | 2.35 | 3.17 | 3.79 |
| Fibonacci | 0.32 | 0.87 | 1.21 | 1.76 | 2.31 | 2.65 | 3.20 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 53.08 | |
| MACD (12,26,9): | 0.0100 | |
| Directional Movement: | 1.61 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 2.03 | |
| Parabolic SAR (0,02-0,02-0,2): | 2.08 | |
| Elder Ray (13): | -0.01 | |
| Super Trend (3,10): | 1.97 | |
| Zig ZAG (10): | 2.01 | |
| VORTEX (21): | 1.0400 | |
| Stochastique (14,3,5): | 28.57 | |
| TEMA (21): | 2.01 | |
| Williams %R (14): | -64.29 | |
| Chande Momentum Oscillator (20): | 0.00 | |
| Repulse (5,40,3): | 0.6900 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1700 | |
| Courbe Coppock: | 2.42 |
| MA7: | 1.89 | |
| MA20: | 1.83 | |
| MA50: | 1.86 | |
| MA100: | 1.41 | |
| MAexp7: | 2.01 | |
| MAexp20: | 2.01 | |
| MAexp50: | 1.96 | |
| MAexp100: | 1.92 | |
| Price / MA7: | +6.88% | |
| Price / MA20: | +10.38% | |
| Price / MA50: | +8.60% | |
| Price / MA100: | +43.26% | |
| Price / MAexp7: | +0.50% | |
| Price / MAexp20: | +0.50% | |
| Price / MAexp50: | +3.06% | |
| Price / MAexp100: | +5.21% |
Quotes :
-
Real time data
-
Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis ALGORAND - ALGO/USD - 1H