ALGORAND - ALGO/USDT - 1H - Technical analysis published on 07/12/2022 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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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:
Neutral
Underlying:
Bearish
Technical indicators
50%
11%
39%
My opinion
Bearish under 0.309800 USDT
My targets
0.288400 USDT (-3.83%)
0.276800 USDT (-7.70%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on ALGORAND - ALGO/USDT. As long as you are under the resistance located at 0.309800 USDT, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 0.288400 USDT would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 0.276800 USDT as an objective. Crossing it would then enable sellers to target 0.222612 USDT. If the resistance 0.309800 USDT were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
2
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This analysis was given by Carrisimarco85. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The ALGORAND - ALGO/USDT rating is 0.299900 USDT. On the day, this instrument gained +0.91% with the lowest point at 0.293700 USDT and the highest point at 0.301000 USDT. The deviation from the price is +2.11% for the low point and -0.37% for the high point.0.293700
0.301000
0.299900
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
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:
Technical
Technical analysis of ALGORAND - ALGO/USDT in 1H shows an overall bearish trend. 75.00% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators shows a slightly bullish signal.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : 1 hour
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S1
R1
R2
R3
Price
| S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|
| ProTrendLines | 0.222612 | 0.299900 | 0.300075 | 0.309800 | 0.323978 |
| Change (%) | -25.77% | - | +0.06% | +3.30% | +8.03% |
| Change | -0.077288 | - | +0.000175 | +0.009900 | +0.024078 |
| Level | Intermediate | - | Intermediate | 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 | 0.278600 | 0.287600 | 0.292400 | 0.301400 | 0.306200 | 0.315200 | 0.320000 |
| Camarilla | 0.293405 | 0.294670 | 0.295935 | 0.297200 | 0.298465 | 0.299730 | 0.300995 |
| Woodie | 0.276500 | 0.286550 | 0.290300 | 0.300350 | 0.304100 | 0.314150 | 0.317900 |
| Fibonacci | 0.287600 | 0.292872 | 0.296128 | 0.301400 | 0.306672 | 0.309928 | 0.315200 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.276800 | 0.288400 | 0.304900 | 0.316500 | 0.333000 | 0.344600 | 0.361100 |
| Camarilla | 0.313673 | 0.316248 | 0.318824 | 0.321400 | 0.323976 | 0.326552 | 0.329128 |
| Woodie | 0.279250 | 0.289625 | 0.307350 | 0.317725 | 0.335450 | 0.345825 | 0.363550 |
| Fibonacci | 0.288400 | 0.299134 | 0.305766 | 0.316500 | 0.327234 | 0.333866 | 0.344600 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.095467 | 0.185433 | 0.250467 | 0.340433 | 0.405467 | 0.495433 | 0.560467 |
| Camarilla | 0.272875 | 0.287083 | 0.301292 | 0.315500 | 0.329708 | 0.343917 | 0.358125 |
| Woodie | 0.083000 | 0.179200 | 0.238000 | 0.334200 | 0.393000 | 0.489200 | 0.548000 |
| Fibonacci | 0.185433 | 0.244643 | 0.281223 | 0.340433 | 0.399643 | 0.436223 | 0.495433 |
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): | 47.82 | |
| MACD (12,26,9): | -0.0022 | |
| Directional Movement: | -6.998240 | |
| AROON (14): | -85.714286 | |
| DEMA (21): | 0.296038 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.293700 | |
| Elder Ray (13): | 0.000047 | |
| Super Trend (3,10): | 0.303550 | |
| Zig ZAG (10): | 0.299400 | |
| VORTEX (21): | 0.9206 | |
| Stochastique (14,3,5): | 42.65 | |
| TEMA (21): | 0.296347 | |
| Williams %R (14): | -17.81 | |
| Chande Momentum Oscillator (20): | 0.002700 | |
| Repulse (5,40,3): | 1.2511 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.1147 | |
| Courbe Coppock: | 2.80 |
| MA7: | 0.310886 | |
| MA20: | 0.317700 | |
| MA50: | 0.344908 | |
| MA100: | 0.493333 | |
| MAexp7: | 0.297553 | |
| MAexp20: | 0.299104 | |
| MAexp50: | 0.303667 | |
| MAexp100: | 0.307789 | |
| Price / MA7: | -3.53% | |
| Price / MA20: | -5.60% | |
| Price / MA50: | -13.05% | |
| Price / MA100: | -39.21% | |
| Price / MAexp7: | +0.79% | |
| Price / MAexp20: | +0.27% | |
| Price / MAexp50: | -1.24% | |
| Price / MAexp100: | -2.56% |
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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