ALGORAND - ALGO/USDT - 1H - Technical analysis published on 06/17/2021 (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:
Bullish
Underlying:
Bullish
Technical indicators
28%
17%
56%
My opinion
Bullish above 1.05 USDT
My targets
1.09 USDT (+2.83%)
1.14 USDT (+7.55%)
My analysis
All elements being rather bullish, it would be possible for traders to only trade long positions (at the time of purchase) on ALGORAND - ALGO/USDT as long as the price remains well above 1.05 USDT. The buyers' bullish objective is set at 1.09 USDT. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.14 USDT. If there is any crossing, the next objective would be the resistance located at 1.28 USDT. Be careful, the short term currently seems to be losing momentum. Its reversal would lead to mitigation of the, bullish, basic trend. If you have another key point closer to the current price, it would be better to only trade long positions (at the time of purchase) above that key point.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
Force
0
10
4.6
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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/USDT rating is 1.06 USDT. The price has increased by +3.92% since the last closing and was between 1.01 USDT and 1.08 USDT. This implies that the price is at +4.95% from its lowest and at -1.85% from its highest.1.01
1.08
1.06
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of this 1H chart of ALGORAND - ALGO/USDT indicates that the overall trend is bullish. 75.00% of the signals given by moving averages are bullish. The overall trend seems to be showing some signs of weakness, as do the tentative bullish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near resistance of triangle
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Three black crows
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.00 | 1.02 | 1.05 | 1.06 | 1.09 | 1.14 | 1.28 |
| Change (%) | -5.66% | -3.77% | -0.94% | - | +2.83% | +7.55% | +20.75% |
| Change | -0.06 | -0.04 | -0.01 | - | +0.03 | +0.08 | +0.22 |
| Level | Intermediate | Minor | Intermediate | - | Major | Minor | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.95 | 0.97 | 1.00 | 1.02 | 1.05 | 1.07 | 1.10 |
| Camarilla | 1.01 | 1.01 | 1.02 | 1.02 | 1.03 | 1.03 | 1.03 |
| Woodie | 0.95 | 0.97 | 1.00 | 1.02 | 1.05 | 1.07 | 1.10 |
| Fibonacci | 0.97 | 0.99 | 1.00 | 1.02 | 1.04 | 1.05 | 1.07 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.57 | 0.72 | 0.85 | 1.00 | 1.13 | 1.28 | 1.41 |
| Camarilla | 0.91 | 0.94 | 0.96 | 0.99 | 1.02 | 1.04 | 1.07 |
| Woodie | 0.57 | 0.72 | 0.85 | 1.00 | 1.13 | 1.28 | 1.41 |
| Fibonacci | 0.72 | 0.82 | 0.89 | 1.00 | 1.10 | 1.17 | 1.28 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -0.49 | 0.09 | 0.52 | 1.10 | 1.53 | 2.11 | 2.54 |
| Camarilla | 0.66 | 0.76 | 0.85 | 0.94 | 1.03 | 1.13 | 1.22 |
| Woodie | -0.58 | 0.05 | 0.44 | 1.06 | 1.45 | 2.07 | 2.46 |
| Fibonacci | 0.09 | 0.48 | 0.72 | 1.10 | 1.49 | 1.73 | 2.11 |
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): | 49.78 | |
| MACD (12,26,9): | 0.0100 | |
| Directional Movement: | 2.77 | |
| AROON (14): | 64.29 | |
| DEMA (21): | 1.06 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.08 | |
| Elder Ray (13): | -0.01 | |
| Super Trend (3,10): | 1.03 | |
| Zig ZAG (10): | 1.05 | |
| VORTEX (21): | 1.1600 | |
| Stochastique (14,3,5): | 63.16 | |
| TEMA (21): | 1.07 | |
| Williams %R (14): | -46.97 | |
| Chande Momentum Oscillator (20): | 0.00 | |
| Repulse (5,40,3): | -1.2700 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.1000 | |
| Courbe Coppock: | 7.60 |
| MA7: | 1.02 | |
| MA20: | 0.99 | |
| MA50: | 1.15 | |
| MA100: | 1.21 | |
| MAexp7: | 1.06 | |
| MAexp20: | 1.05 | |
| MAexp50: | 1.04 | |
| MAexp100: | 1.04 | |
| Price / MA7: | +3.92% | |
| Price / MA20: | +7.07% | |
| Price / MA50: | -7.83% | |
| Price / MA100: | -12.40% | |
| Price / MAexp7: | -0% | |
| Price / MAexp20: | +0.95% | |
| Price / MAexp50: | +1.92% | |
| Price / MAexp100: | +1.92% |
Quotes :
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Real time data
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