ALGORAND - ALGO/USD - 1H - Technical analysis published on 05/17/2022 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
44%
28%
28%
My opinion
Bullish above 0.440000 USD
My targets
0.526667 USD (+7.48%)
0.550000 USD (+12.24%)
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 0.440000 USD. Crossing the first resistance at 0.526667 USD would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 0.550000 USD as an objective. Crossing it would then enable buyers to target 0.679900 USD. Caution, a return to below 0.440000 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, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
5.5
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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 0.490000 USD. On the day, this instrument gained +6.52% and was traded between 0.460000 USD and 0.510000 USD over the period. The price is currently at +6.52% from its lowest and -3.92% from its highest.0.460000
0.510000
0.490000
Here is a more detailed summary of the historical variations registered by ALGORAND - ALGO/USD:
Abnormal volumes
Timeframe : 20 days
Technical
A technical analysis in 1H of this ALGORAND - ALGO/USD chart shows a strongly bullish trend. 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.
On the 18 technical indicators analysed, 8 are bullish, 5 are neutral and 5 are bearish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.223400 | 0.340000 | 0.440000 | 0.490000 | 0.550000 | 0.679900 | 0.760000 |
| Change (%) | -54.41% | -30.61% | -10.20% | - | +12.24% | +38.76% | +55.10% |
| Change | -0.266600 | -0.150000 | -0.050000 | - | +0.060000 | +0.189900 | +0.270000 |
| Level | Intermediate | Minor | Major | - | Intermediate | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.386667 | 0.413333 | 0.436667 | 0.463333 | 0.486667 | 0.513333 | 0.536667 |
| Camarilla | 0.446250 | 0.450833 | 0.455417 | 0.460000 | 0.464583 | 0.469167 | 0.473750 |
| Woodie | 0.385000 | 0.412500 | 0.435000 | 0.462500 | 0.485000 | 0.512500 | 0.535000 |
| Fibonacci | 0.413333 | 0.432433 | 0.444233 | 0.463333 | 0.482433 | 0.494233 | 0.513333 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -0.166667 | 0.086667 | 0.273333 | 0.526667 | 0.713333 | 0.966667 | 1.153333 |
| Camarilla | 0.339000 | 0.379333 | 0.419667 | 0.460000 | 0.500333 | 0.540667 | 0.581000 |
| Woodie | -0.200000 | 0.070000 | 0.240000 | 0.510000 | 0.680000 | 0.950000 | 1.120000 |
| Fibonacci | 0.086667 | 0.254747 | 0.358587 | 0.526667 | 0.694747 | 0.798587 | 0.966667 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -0.026667 | 0.256667 | 0.413333 | 0.696667 | 0.853333 | 1.136667 | 1.293333 |
| Camarilla | 0.449000 | 0.489333 | 0.529667 | 0.570000 | 0.610333 | 0.650667 | 0.691000 |
| Woodie | -0.090000 | 0.225000 | 0.350000 | 0.665000 | 0.790000 | 1.105000 | 1.230000 |
| Fibonacci | 0.256667 | 0.424747 | 0.528587 | 0.696667 | 0.864747 | 0.968587 | 1.136667 |
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): | 50.69 | |
| MACD (12,26,9): | 0.0050 | |
| Directional Movement: | 13.669271 | |
| AROON (14): | 64.285714 | |
| DEMA (21): | 0.488907 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.480000 | |
| Elder Ray (13): | -0.004127 | |
| Super Trend (3,10): | 0.467491 | |
| Zig ZAG (10): | 0.480000 | |
| VORTEX (21): | 1.0435 | |
| Stochastique (14,3,5): | 16.67 | |
| TEMA (21): | 0.489440 | |
| Williams %R (14): | -100.00 | |
| Chande Momentum Oscillator (20): | -0.010000 | |
| Repulse (5,40,3): | -3.0259 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.2141 | |
| Courbe Coppock: | 5.03 |
| MA7: | 0.457143 | |
| MA20: | 0.584000 | |
| MA50: | 0.700600 | |
| MA100: | 0.768200 | |
| MAexp7: | 0.484252 | |
| MAexp20: | 0.481649 | |
| MAexp50: | 0.472945 | |
| MAexp100: | 0.474776 | |
| Price / MA7: | +7.19% | |
| Price / MA20: | -16.10% | |
| Price / MA50: | -30.06% | |
| Price / MA100: | -36.21% | |
| Price / MAexp7: | +1.19% | |
| Price / MAexp20: | +1.73% | |
| Price / MAexp50: | +3.61% | |
| Price / MAexp100: | +3.21% |
Quotes :
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Real time data
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