ALGORAND - ALGO/USD - 1H - Technical analysis published on 10/27/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
33%
44%
22%
My opinion
Bearish under 1.84 USD
My targets
1.75 USD (-4.54%)
1.72 USD (-6.01%)
My analysis
The bearish trend is currently very strong for ALGORAND - ALGO/USD. As long as the price remains below the resistance at 1.84 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 1.75 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.72 USD as an objective. Crossing it would then enable sellers to target 1.09 USD. 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.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
5.5
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This analysis was given by alphakarl. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The ALGORAND - ALGO/USD rating is 1.83 USD. The price is lower by -10.29% since the last closing with the lowest point at 1.70 USD and the highest point at 2.09 USD. The deviation from the price is +7.65% for the low point and -12.44% for the high point.1.70
2.09
1.83
Here is a more detailed summary of the historical variations registered by ALGORAND - ALGO/USD:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
The Central Volumes scanner notes the presence of abnormal volumes:
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of ALGORAND - ALGO/USD in 1H shows a overall strongly bearish trend. 82.14% 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 scanner does not detect any result on moving averages that would impact this trend.
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:
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:
Bullish engulfing lines
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.09 | 1.72 | 1.82 | 1.83 | 1.94 | 1.99 | 2.03 |
| Change (%) | -40.44% | -6.01% | -0.55% | - | +6.01% | +8.74% | +10.93% |
| Change | -0.74 | -0.11 | -0.01 | - | +0.11 | +0.16 | +0.20 |
| Level | Intermediate | Major | Minor | - | Major | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.81 | 1.88 | 1.96 | 2.03 | 2.11 | 2.18 | 2.26 |
| Camarilla | 2.00 | 2.01 | 2.03 | 2.04 | 2.05 | 2.07 | 2.08 |
| Woodie | 1.82 | 1.88 | 1.97 | 2.03 | 2.12 | 2.18 | 2.27 |
| Fibonacci | 1.88 | 1.94 | 1.97 | 2.03 | 2.09 | 2.12 | 2.18 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.49 | 1.58 | 1.75 | 1.84 | 2.01 | 2.10 | 2.27 |
| Camarilla | 1.84 | 1.86 | 1.89 | 1.91 | 1.93 | 1.96 | 1.98 |
| Woodie | 1.52 | 1.60 | 1.78 | 1.86 | 2.04 | 2.12 | 2.30 |
| Fibonacci | 1.58 | 1.68 | 1.74 | 1.84 | 1.94 | 2.00 | 2.10 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -0.23 | 0.50 | 1.07 | 1.80 | 2.37 | 3.10 | 3.67 |
| Camarilla | 1.27 | 1.39 | 1.51 | 1.63 | 1.75 | 1.87 | 1.99 |
| Woodie | -0.32 | 0.46 | 0.98 | 1.76 | 2.28 | 3.06 | 3.58 |
| Fibonacci | 0.50 | 1.00 | 1.31 | 1.80 | 2.30 | 2.61 | 3.10 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 34.67 | |
| MACD (12,26,9): | -0.0500 | |
| Directional Movement: | -23.81 | |
| AROON (14): | -50.00 | |
| DEMA (21): | 1.85 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.99 | |
| Elder Ray (13): | -0.04 | |
| Super Trend (3,10): | 1.97 | |
| Zig ZAG (10): | 1.83 | |
| VORTEX (21): | 0.8200 | |
| Stochastique (14,3,5): | 37.37 | |
| TEMA (21): | 1.81 | |
| Williams %R (14): | -58.82 | |
| Chande Momentum Oscillator (20): | -0.18 | |
| Repulse (5,40,3): | 0.3600 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.2600 | |
| Courbe Coppock: | 18.33 |
| MA7: | 1.90 | |
| MA20: | 1.83 | |
| MA50: | 1.87 | |
| MA100: | 1.42 | |
| MAexp7: | 1.85 | |
| MAexp20: | 1.91 | |
| MAexp50: | 1.94 | |
| MAexp100: | 1.93 | |
| Price / MA7: | -3.68% | |
| Price / MA20: | -0% | |
| Price / MA50: | -2.14% | |
| Price / MA100: | +28.87% | |
| Price / MAexp7: | -1.08% | |
| Price / MAexp20: | -4.19% | |
| Price / MAexp50: | -5.67% | |
| Price / MAexp100: | -5.18% |
Quotes :
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Real time data
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