ALGORAND - ALGO/USDT

- USDT (-)

- Real time data - CoinMarketCap

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Type:	Cryptocurrencies
Ticker:	ALGOUSDT
ISIN:

ALGORAND - ALGO/USDT - Daily - Technical analysis published on 04/04/2022 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Neutral

Technical indicators

72%

22%

My opinion

Bullish above 0.863633 USDT

My targets

0.949400 USDT (+2.55%)

1.176733 USDT (+27.10%)

My analysis

The current short-term bullish trend should quickly fix the basic bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for ALGORAND - ALGO/USDT as long as the price remains well above 0.863633 USDT. The buyers' bullish objective is set at 0.949400 USDT. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.176733 USDT. If there is any crossing, the next objective would be the resistance located at 1.296000 USDT.

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

3.6

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

ALGORAND - ALGO/USDT rating 0.925800 USDT. The price is lower by -1.01% since the last closing and was traded between 0.906000 USDT and 0.936500 USDT over the period. The price is currently at +2.19% from its lowest and -1.14% from its highest.

0.906000

0.936500

0.925800

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 ALGORAND - ALGO/USDT in Daily shows a neutral overall trend. This indecision could turn into a bullish trend due to the strong bullish signals currently being given by short-term moving averages. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:

Bullish trend reversal : Moving Average 50

Type : Bullish

Timeframe : Daily

Technical indicators are strongly bullish, suggesting that the price increase should continue.
But beware of excesses. The Central Indicators scanner currently detects this:

MACD indicator: bearish divergence

Type : Bearish

Timeframe : Daily

Central Indicators, the scanner specialised in technical indicators, has identified this signal:

Price is back under the pivot point

Type : Bearish

Timeframe : Daily

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	0.222612	0.494600	0.695800	0.925800	0.949400	1.296000	1.712800
Change (%)	-75.95%	-46.58%	-24.84%	-	+2.55%	+39.99%	+85.01%
Change	-0.703188	-0.431200	-0.230000	-	+0.023600	+0.370200	+0.787000
Level	Minor	Minor	Major	-	Intermediate	Intermediate	Major

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	0.840800	0.864600	0.899900	0.923700	0.959000	0.982800	1.018100
Camarilla	0.918948	0.924365	0.929783	0.935200	0.940618	0.946035	0.951453
Woodie	0.846550	0.867475	0.905650	0.926575	0.964750	0.985675	1.023850
Fibonacci	0.864600	0.887176	0.901124	0.923700	0.946276	0.960224	0.982800

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.762067	0.823333	0.864867	0.926133	0.967667	1.028933	1.070467
Camarilla	0.878130	0.887553	0.896977	0.906400	0.915823	0.925247	0.934670
Woodie	0.752200	0.818400	0.855000	0.921200	0.957800	1.024000	1.060600
Fibonacci	0.823333	0.862603	0.886864	0.926133	0.965403	0.989664	1.028933

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.426767	0.550533	0.739867	0.863633	1.052967	1.176733	1.366067
Camarilla	0.843098	0.871798	0.900499	0.929200	0.957901	0.986602	1.015303
Woodie	0.459550	0.566925	0.772650	0.880025	1.085750	1.193125	1.398850
Fibonacci	0.550533	0.670138	0.744029	0.863633	0.983238	1.057129	1.176733

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):	59.04
MACD (12,26,9):	0.0349
Directional Movement:	11.380440
AROON (14):	71.428571
DEMA (21):	0.918108
Parabolic SAR (0,02-0,02-0,2):	0.888400
Elder Ray (13):	0.021707
Super Trend (3,10):	0.775474
Zig ZAG (10):	0.923000
VORTEX (21):	1.1980
Stochastique (14,3,5):	70.98
TEMA (21):	0.963336
Williams %R (14):	-35.14
Chande Momentum Oscillator (20):	0.084800
Repulse (5,40,3):	-0.3648
ROCnROLL:	1
TRIX (15,9):	0.5421
Courbe Coppock:	37.63

MA7:	0.925957
MA20:	0.862870
MA50:	0.827634
MA100:	1.034301
MAexp7:	0.920531
MAexp20:	0.878084
MAexp50:	0.887527
MAexp100:	1.013187
Price / MA7:	-0.02%
Price / MA20:	+7.29%
Price / MA50:	+11.86%
Price / MA100:	-10.49%
Price / MAexp7:	+0.57%
Price / MAexp20:	+5.43%
Price / MAexp50:	+4.31%
Price / MAexp100:	-8.62%

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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