ALGORAND - ALGO/USD - 1H - Technical analysis published on 11/08/2021 (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:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
94%
0%
6%
My opinion
Bullish above 1.92 USD
My targets
2.05 USD (+3.54%)
2.20 USD (+10.96%)
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 1.92 USD. The next resistance located at 2.05 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 2.20 USD. After this resistance, buyers could then target 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.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
9.1
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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 price is 1.98 USD. The price has increased by +5.88% since the last closing and was traded between 1.84 USD and 1.98 USD over the period. The price is currently at +7.61% from its lowest and 0% from its highest.1.84
1.98
1.98
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 strongly 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 a bullish signal that could impact this trend:
Moving Average bullish crossovers : MA50 & MA100
Type : Bullish
Timeframe : 1 hour
In fact, 17 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Horizontal resistance is broken
Type : Bullish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects these bullish signals that could support the hypothesis of a small rebound in the very short term:
White line without lower shadow
Type : Bullish
Timeframe : 1 hour
Long white line
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.85 | 1.92 | 1.97 | 1.98 | 1.99 | 2.05 | 2.38 |
| Change (%) | -6.57% | -3.03% | -0.51% | - | +0.51% | +3.54% | +20.20% |
| Change | -0.13 | -0.06 | -0.01 | - | +0.01 | +0.07 | +0.40 |
| Level | Minor | Major | Minor | - | Minor | 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 | 1.79 | 1.80 | 1.84 | 1.85 | 1.89 | 1.90 | 1.94 |
| Camarilla | 1.86 | 1.86 | 1.87 | 1.87 | 1.88 | 1.88 | 1.88 |
| Woodie | 1.80 | 1.81 | 1.85 | 1.86 | 1.90 | 1.91 | 1.95 |
| Fibonacci | 1.80 | 1.82 | 1.83 | 1.85 | 1.87 | 1.88 | 1.90 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.51 | 1.63 | 1.74 | 1.86 | 1.97 | 2.09 | 2.20 |
| Camarilla | 1.78 | 1.80 | 1.82 | 1.84 | 1.86 | 1.88 | 1.90 |
| Woodie | 1.50 | 1.63 | 1.73 | 1.86 | 1.96 | 2.09 | 2.19 |
| Fibonacci | 1.63 | 1.72 | 1.78 | 1.86 | 1.95 | 2.01 | 2.09 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.09 | 1.34 | 1.59 | 1.84 | 2.09 | 2.34 | 2.59 |
| Camarilla | 1.69 | 1.74 | 1.78 | 1.83 | 1.88 | 1.92 | 1.97 |
| Woodie | 1.08 | 1.34 | 1.58 | 1.84 | 2.08 | 2.34 | 2.58 |
| Fibonacci | 1.34 | 1.53 | 1.65 | 1.84 | 2.03 | 2.15 | 2.34 |
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): | 74.40 | |
| MACD (12,26,9): | 0.0200 | |
| Directional Movement: | 29.28 | |
| AROON (14): | 100.00 | |
| DEMA (21): | 1.92 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.88 | |
| Elder Ray (13): | 0.07 | |
| Super Trend (3,10): | 1.89 | |
| Zig ZAG (10): | 1.97 | |
| VORTEX (21): | 1.2000 | |
| Stochastique (14,3,5): | 86.38 | |
| TEMA (21): | 1.93 | |
| Williams %R (14): | -8.33 | |
| Chande Momentum Oscillator (20): | 0.09 | |
| Repulse (5,40,3): | 2.5800 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1100 | |
| Courbe Coppock: | 5.20 |
| MA7: | 1.88 | |
| MA20: | 1.87 | |
| MA50: | 1.82 | |
| MA100: | 1.54 | |
| MAexp7: | 1.92 | |
| MAexp20: | 1.89 | |
| MAexp50: | 1.87 | |
| MAexp100: | 1.86 | |
| Price / MA7: | +5.32% | |
| Price / MA20: | +5.88% | |
| Price / MA50: | +8.79% | |
| Price / MA100: | +28.57% | |
| Price / MAexp7: | +3.13% | |
| Price / MAexp20: | +4.76% | |
| Price / MAexp50: | +5.88% | |
| Price / MAexp100: | +6.45% |
Quotes :
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Real time data
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This member declared not having a position on this financial instrument or a related financial instrument.
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