ALGORAND - ALGO/USDT

- USDT (-)

- Real time data - CoinMarketCap

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Change:	-
Volume:	-

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Type:	Cryptocurrencies
Ticker:	ALGOUSDT
ISIN:

ALGORAND - ALGO/USDT - Daily - Technical analysis published on 11/12/2021 (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

94%

My opinion

Bullish above 2.05 USDT

My targets

2.38 USDT (+6.25%)

My analysis

The bullish trend is currently very strong on ALGORAND - ALGO/USDT. As long as the price remains above the support at 2.05 USDT, you could try to benefit from the boom. The first bullish objective is located at 2.38 USDT. The bullish momentum would be boosted by a break in this resistance. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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 confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.

Force

9.1

Comment on the analysis

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 finacian. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The ALGORAND - ALGO/USDT price is 2.24 USDT. The price registered an increase of +10.89% on the session and was traded between 2.00 USDT and 2.34 USDT over the period. The price is currently at +12.00% from its lowest and -4.27% from its highest.

2.00

2.34

2.24

A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.

Bearish opening

Type : Bearish

Timeframe : Openning

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The study of the highest / lowest by the Central Records scanner shows the following result:

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

A technical analysis in Daily of this ALGORAND - ALGO/USDT 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. There is no crossing of moving average by the price or crossing of moving averages between themselves.

An assessment of technical indicators shows a strong bullish signal.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Daily

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Weekly

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:

Near resistance of triangle

Type : Bearish

Timeframe : Daily

Horizontal resistance is broken

Type : Bullish

Timeframe : Daily

Resistance of channel is broken

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:

Bullish engulfing lines

Type : Bullish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1
ProTrendLines	1.27	1.71	2.05	2.24	2.38
Change (%)	-43.30%	-23.66%	-8.48%	-	+6.25%
Change	-0.97	-0.53	-0.19	-	+0.14
Level	Minor	Major	Major	-	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	1.73	1.81	1.91	1.99	2.09	2.17	2.27
Camarilla	1.97	1.99	2.00	2.02	2.04	2.05	2.07
Woodie	1.75	1.82	1.93	2.00	2.11	2.18	2.29
Fibonacci	1.81	1.88	1.92	1.99	2.06	2.10	2.17

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1.53	1.65	1.74	1.86	1.95	2.07	2.16
Camarilla	1.78	1.80	1.82	1.84	1.86	1.88	1.90
Woodie	1.53	1.64	1.74	1.85	1.95	2.06	2.16
Fibonacci	1.65	1.73	1.78	1.86	1.94	1.99	2.07

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):	67.01
MACD (12,26,9):	0.0600
Directional Movement:	27.29
AROON (14):	85.71
DEMA (21):	2.00
Parabolic SAR (0,02-0,02-0,2):	1.80
Elder Ray (13):	0.21
Super Trend (3,10):	1.64
Zig ZAG (10):	2.24
VORTEX (21):	1.0700
Stochastique (14,3,5):	55.20
TEMA (21):	2.03
Williams %R (14):	-17.70
Chande Momentum Oscillator (20):	0.41
Repulse (5,40,3):	10.8700
ROCnROLL:	1
TRIX (15,9):	0.2400
Courbe Coppock:	13.39

MA7:	1.99
MA20:	1.91
MA50:	1.84
MA100:	1.59
MAexp7:	2.02
MAexp20:	1.93
MAexp50:	1.82
MAexp100:	1.65
Price / MA7:	+12.56%
Price / MA20:	+17.28%
Price / MA50:	+21.74%
Price / MA100:	+40.88%
Price / MAexp7:	+10.89%
Price / MAexp20:	+16.06%
Price / MAexp50:	+23.08%
Price / MAexp100:	+35.76%

Quotes : - Real time data - Cryptocompare

This member declared not having a position on this financial instrument or a related financial instrument.

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