ALGORAND - ALGO/USDT - Daily - Technical analysis published on 12/29/2022 (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
33%
44%
22%
My opinion
Bearish under 0.206700 USDT
My targets
0.145833 USDT (-11.46%)
0.126767 USDT (-23.03%)
My analysis
The bearish trend is currently very strong for ALGORAND - ALGO/USDT. As long as the price remains below the resistance at 0.206700 USDT, you could try to take advantage of the bearish rally. The first bearish objective is located at 0.145833 USDT. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 0.126767 USDT as an objective. Crossing it would then enable sellers to target 0.104600 USDT. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
6.4
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Additional analysis
Quotes
The ALGORAND - ALGO/USDT price is 0.164700 USDT. The price is lower by -1.32% since the last closing and was between 0.162900 USDT and 0.167600 USDT. This implies that the price is at +1.10% from its lowest and at -1.73% from its highest.0.162900
0.167600
0.164700
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 this Daily chart of ALGORAND - ALGO/USDT indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 6 are bullish, 4 are neutral and 8 are bearish. The Central Indicators scanner found no further results concerning independent technical indicators.
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
R1
R2
R3
Price
| Price | R1 | R2 | R3 | |
|---|---|---|---|---|
| ProTrendLines | 0.164700 | 0.247700 | 0.292667 | 0.372100 |
| Change (%) | - | +50.39% | +77.70% | +125.93% |
| Change | - | +0.083000 | +0.127967 | +0.207400 |
| Level | - | Minor | Intermediate | Intermediate |
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 | 0.152200 | 0.156500 | 0.161700 | 0.166000 | 0.171200 | 0.175500 | 0.180700 |
| Camarilla | 0.164288 | 0.165158 | 0.166029 | 0.166900 | 0.167771 | 0.168642 | 0.169513 |
| Woodie | 0.152650 | 0.156725 | 0.162150 | 0.166225 | 0.171650 | 0.175725 | 0.181150 |
| Fibonacci | 0.156500 | 0.160129 | 0.162371 | 0.166000 | 0.169629 | 0.171871 | 0.175500 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.126767 | 0.145833 | 0.156867 | 0.175933 | 0.186967 | 0.206033 | 0.217067 |
| Camarilla | 0.159623 | 0.162382 | 0.165141 | 0.167900 | 0.170659 | 0.173418 | 0.176178 |
| Woodie | 0.122750 | 0.143825 | 0.152850 | 0.173925 | 0.182950 | 0.204025 | 0.213050 |
| Fibonacci | 0.145833 | 0.157332 | 0.164435 | 0.175933 | 0.187432 | 0.194535 | 0.206033 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.104600 | 0.165700 | 0.206700 | 0.267800 | 0.308800 | 0.369900 | 0.410900 |
| Camarilla | 0.219623 | 0.228982 | 0.238341 | 0.247700 | 0.257059 | 0.266418 | 0.275778 |
| Woodie | 0.094550 | 0.160675 | 0.196650 | 0.262775 | 0.298750 | 0.364875 | 0.400850 |
| Fibonacci | 0.165700 | 0.204702 | 0.228798 | 0.267800 | 0.306802 | 0.330898 | 0.369900 |
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): | 30.26 | |
| MACD (12,26,9): | -0.0212 | |
| Directional Movement: | -29.134380 | |
| AROON (14): | -71.428572 | |
| DEMA (21): | 0.162861 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.192355 | |
| Elder Ray (13): | -0.010509 | |
| Super Trend (3,10): | 0.196582 | |
| Zig ZAG (10): | 0.168900 | |
| VORTEX (21): | 0.7070 | |
| Stochastique (14,3,5): | 9.19 | |
| TEMA (21): | 0.160884 | |
| Williams %R (14): | -90.45 | |
| Chande Momentum Oscillator (20): | -0.041300 | |
| Repulse (5,40,3): | -0.8985 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -1.3339 | |
| Courbe Coppock: | 44.05 |
| MA7: | 0.169429 | |
| MA20: | 0.193950 | |
| MA50: | 0.233056 | |
| MA100: | 0.289835 | |
| MAexp7: | 0.172120 | |
| MAexp20: | 0.191471 | |
| MAexp50: | 0.230092 | |
| MAexp100: | 0.269611 | |
| Price / MA7: | -2.79% | |
| Price / MA20: | -15.08% | |
| Price / MA50: | -29.33% | |
| Price / MA100: | -43.17% | |
| Price / MAexp7: | -4.31% | |
| Price / MAexp20: | -13.98% | |
| Price / MAexp50: | -28.42% | |
| Price / MAexp100: | -38.91% |
Quotes :
-
Real time data
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