ALGORAND - ALGO/USDT - Daily - Technical analysis published on 03/15/2022 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
28%
50%
22%
My opinion
Bearish under 0.886100 USDT
My targets
0.671200 USDT (-3.95%)
0.594600 USDT (-14.91%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on ALGORAND - ALGO/USDT as long as the price remains well below 0.886100 USDT. The sellers' bearish objective is set at 0.671200 USDT. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 0.594600 USDT. In case of crossing, the next objective would be the support located at 0.494600 USDT. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
6.8
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Additional analysis
Quotes
The ALGORAND - ALGO/USDT price is 0.698800 USDT. On the day, this instrument lost -1.12% and was traded between 0.678800 USDT and 0.708000 USDT over the period. The price is currently at +2.95% from its lowest and -1.30% from its highest.0.678800
0.708000
0.698800
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:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of ALGORAND - ALGO/USDT in Daily shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near horizontal support
Type : Bullish
Timeframe : Daily
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish harami
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.222612 | 0.494600 | 0.695800 | 0.698800 | 1.296000 | 1.712800 | 2.146000 |
| Change (%) | -68.14% | -29.22% | -0.43% | - | +85.46% | +145.11% | +207.10% |
| Change | -0.476188 | -0.204200 | -0.003000 | - | +0.597200 | +1.014000 | +1.447200 |
| Level | Minor | Intermediate | Major | - | Intermediate | Major | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.646833 | 0.660567 | 0.683633 | 0.697367 | 0.720433 | 0.734167 | 0.757233 |
| Camarilla | 0.696580 | 0.699953 | 0.703327 | 0.706700 | 0.710073 | 0.713447 | 0.716820 |
| Woodie | 0.651500 | 0.662900 | 0.688300 | 0.699700 | 0.725100 | 0.736500 | 0.761900 |
| Fibonacci | 0.660567 | 0.674624 | 0.683309 | 0.697367 | 0.711424 | 0.720109 | 0.734167 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.594600 | 0.647400 | 0.676100 | 0.728900 | 0.757600 | 0.810400 | 0.839100 |
| Camarilla | 0.682388 | 0.689858 | 0.697329 | 0.704800 | 0.712271 | 0.719742 | 0.727213 |
| Woodie | 0.582550 | 0.641375 | 0.664050 | 0.722875 | 0.745550 | 0.804375 | 0.827050 |
| Fibonacci | 0.647400 | 0.678533 | 0.697767 | 0.728900 | 0.760033 | 0.779267 | 0.810400 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.259100 | 0.474000 | 0.671200 | 0.886100 | 1.083300 | 1.298200 | 1.495400 |
| Camarilla | 0.755073 | 0.792848 | 0.830624 | 0.868400 | 0.906176 | 0.943952 | 0.981728 |
| Woodie | 0.250250 | 0.469575 | 0.662350 | 0.881675 | 1.074450 | 1.293775 | 1.486550 |
| Fibonacci | 0.474000 | 0.631422 | 0.728678 | 0.886100 | 1.043522 | 1.140778 | 1.298200 |
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): | 36.08 | |
| MACD (12,26,9): | -0.0575 | |
| Directional Movement: | -16.147550 | |
| AROON (14): | -92.857143 | |
| DEMA (21): | 0.684983 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.840581 | |
| Elder Ray (13): | -0.041824 | |
| Super Trend (3,10): | 0.831776 | |
| Zig ZAG (10): | 0.698600 | |
| VORTEX (21): | 0.9266 | |
| Stochastique (14,3,5): | 9.47 | |
| TEMA (21): | 0.692007 | |
| Williams %R (14): | -88.03 | |
| Chande Momentum Oscillator (20): | -0.100800 | |
| Repulse (5,40,3): | -1.9500 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.9332 | |
| Courbe Coppock: | 26.81 |
| MA7: | 0.712457 | |
| MA20: | 0.767235 | |
| MA50: | 0.867890 | |
| MA100: | 1.156085 | |
| MAexp7: | 0.711568 | |
| MAexp20: | 0.763560 | |
| MAexp50: | 0.898931 | |
| MAexp100: | 1.082281 | |
| Price / MA7: | -1.92% | |
| Price / MA20: | -8.92% | |
| Price / MA50: | -19.48% | |
| Price / MA100: | -39.55% | |
| Price / MAexp7: | -1.79% | |
| Price / MAexp20: | -8.48% | |
| Price / MAexp50: | -22.26% | |
| Price / MAexp100: | -35.43% |
Quotes :
-
Real time data
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Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
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