ALGORAND - ALGO/USDT

- USDT (-)

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Type:	Cryptocurrencies
Ticker:	ALGOUSDT
ISIN:

ALGORAND - ALGO/USDT - Daily - Technical analysis published on 12/09/2023 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

94%

My opinion

Bullish above 0.174176 USDT

My targets

0.197807 USDT (+0.10%)

0.288271 USDT (+45.88%)

My analysis

The bullish trend is currently very strong on ALGORAND - ALGO/USDT. As long as the price remains above the support at 0.174176 USDT, you could try to benefit from the boom. The first bullish objective is located at 0.197807 USDT. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 0.288271 USDT as an objective. Crossing it would then enable buyers to target 0.690933 USDT. 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 Blackoin. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The ALGORAND - ALGO/USDT rating is 0.197612 USDT. On the day, this instrument gained +7.25% and was between 0.183765 USDT and 0.199522 USDT. This implies that the price is at +7.54% from its lowest and at -0.96% from its highest.

0.183765

0.199522

0.197612

The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.

Bearish opening

Type : Bearish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

New HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

The Central Volumes scanner detects abnormal volumes on the asset:

Abnormal volumes

Timeframe : 5 days

Abnormal volumes

Timeframe : 20 days

Abnormal volumes

Timeframe : 50 days

Technical

Technical analysis of this Daily chart of ALGORAND - ALGO/USDT indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

In fact, according to the parameters integrated into the Central Analyzer system, 17 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

RSI indicator is overbought : over 80

Type : Neutral

Timeframe : Daily

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Previous candle closed over Bollinger bands

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

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

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Weekly

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	0.106036	0.123405	0.146072	0.197612	0.288271	0.690933	1.688000
Change (%)	-46.34%	-37.55%	-26.08%	-	+45.88%	+249.64%	+754.20%
Change	-0.091576	-0.074207	-0.051540	-	+0.090659	+0.493321	+1.490388
Level	Major	Minor	Intermediate	-	Minor	Minor	Minor

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	0.146074	0.154263	0.169262	0.177451	0.192450	0.200639	0.215638
Camarilla	0.177883	0.180009	0.182134	0.184260	0.186386	0.188511	0.190637
Woodie	0.149478	0.155966	0.172666	0.179154	0.195854	0.202342	0.219042
Fibonacci	0.154263	0.163121	0.168594	0.177451	0.186309	0.191782	0.200639

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.114855	0.121662	0.134781	0.141588	0.154707	0.161514	0.174633
Camarilla	0.142419	0.144246	0.146073	0.147899	0.149726	0.151552	0.153379
Woodie	0.118010	0.123240	0.137936	0.143166	0.157862	0.163092	0.177788
Fibonacci	0.121662	0.129274	0.133977	0.141588	0.149200	0.153903	0.161514

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.066302	0.086506	0.110137	0.130341	0.153972	0.174176	0.197807
Camarilla	0.121713	0.125732	0.129750	0.133768	0.137786	0.141804	0.145823
Woodie	0.068016	0.087363	0.111851	0.131198	0.155686	0.175033	0.199521
Fibonacci	0.086506	0.103251	0.113596	0.130341	0.147086	0.157431	0.174176

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):	81.08
MACD (12,26,9):	0.0129
Directional Movement:	40.978148
AROON (14):	78.571429
DEMA (21):	0.166073
Parabolic SAR (0,02-0,02-0,2):	0.138597
Elder Ray (13):	0.033786
Super Trend (3,10):	0.158798
Zig ZAG (10):	0.192257
VORTEX (21):	1.2756
Stochastique (14,3,5):	94.88
TEMA (21):	0.172246
Williams %R (14):	-10.37
Chande Momentum Oscillator (20):	0.060505
Repulse (5,40,3):	17.5872
ROCnROLL:	1
TRIX (15,9):	0.8918
Courbe Coppock:	47.14

MA7:	0.164480
MA20:	0.145453
MA50:	0.129263
MA100:	0.112770
MAexp7:	0.168227
MAexp20:	0.150792
MAexp50:	0.133977
MAexp100:	0.124433
Price / MA7:	+20.14%
Price / MA20:	+35.86%
Price / MA50:	+52.88%
Price / MA100:	+75.23%
Price / MAexp7:	+17.47%
Price / MAexp20:	+31.05%
Price / MAexp50:	+47.50%
Price / MAexp100:	+58.81%

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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