ALGORAND - ALGO/USD

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Type:	Cryptocurrencies
Ticker:	ALGOUSD
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ALGORAND - ALGO/USD - Weekly - Technical analysis published on 04/13/2022 (GMT)

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Timeframe : Weekly
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Bearish

Technical indicators

11%

67%

22%

My opinion

Bearish under 0.863333 USD

My targets

0.683600 USD (-6.36%)

0.500160 USD (-31.48%)

My analysis

All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on ALGORAND - ALGO/USD as long as the price remains well below 0.863333 USD. The sellers' bearish objective is set at 0.683600 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 0.500160 USD. In case of crossing, the next objective would be the support located at 0.223400 USD.

Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.

Force

5.4

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 baltbach. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The ALGORAND - ALGO/USD price is 0.730000 USD. Over 5 days, this instrument lost -8.75% and has been traded over the last 5 days between 0.680000 USD and 0.790000 USD. This implies that the 5 day price is +7.35% from its lowest point and -7.59% from its highest point.

0.680000

0.790000

0.730000

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 Weekly chart of ALGORAND - ALGO/USD indicates that the overall trend is bearish. 67.86% of the signals given by moving averages are bearish. This 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.

Technical indicators are bearish. There is still some doubt about the decline in the price.
Caution: the Central Indicators scanner currently detects an excess:

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : Weekly

The Central Indicators scanner specialised in technical indicators, has not detected anything further.

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

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	0.223400	0.500160	0.683600	0.730000	1.300000	1.715600	2.380000
Change (%)	-69.40%	-31.48%	-6.36%	-	+78.08%	+135.01%	+226.03%
Change	-0.506600	-0.229840	-0.046400	-	+0.570000	+0.985600	+1.650000
Level	Minor	Minor	Major	-	Intermediate	Major	Major

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.650000	0.670000	0.700000	0.720000	0.750000	0.770000	0.800000
Camarilla	0.716250	0.720833	0.725417	0.730000	0.734583	0.739167	0.743750
Woodie	0.655000	0.672500	0.705000	0.722500	0.755000	0.772500	0.805000
Fibonacci	0.670000	0.689100	0.700900	0.720000	0.739100	0.750900	0.770000

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.510000	0.630000	0.710000	0.830000	0.910000	1.030000	1.110000
Camarilla	0.735000	0.753333	0.771667	0.790000	0.808333	0.826667	0.845000
Woodie	0.490000	0.620000	0.690000	0.820000	0.890000	1.020000	1.090000
Fibonacci	0.630000	0.706400	0.753600	0.830000	0.906400	0.953600	1.030000

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.416667	0.543333	0.736667	0.863333	1.056667	1.183333	1.376667
Camarilla	0.842000	0.871333	0.900667	0.930000	0.959333	0.988667	1.018000
Woodie	0.450000	0.560000	0.770000	0.880000	1.090000	1.200000	1.410000
Fibonacci	0.543333	0.665573	0.741093	0.863333	0.985573	1.061093	1.183333

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):	38.29
MACD (12,26,9):	-0.1792
Directional Movement:	-2.406752
AROON (14):	-71.428571
DEMA (21):	0.821118
Parabolic SAR (0,02-0,02-0,2):	1.307449
Elder Ray (13):	-0.191698
Super Trend (3,10):	1.449504
Zig ZAG (10):	0.730000
VORTEX (21):	0.8468
Stochastique (14,3,5):	13.24
TEMA (21):	0.646170
Williams %R (14):	-92.77
Chande Momentum Oscillator (20):	-0.260000
Repulse (5,40,3):	-16.3634
ROCnROLL:	2
TRIX (15,9):	-1.6379
Courbe Coppock:	85.29

MA7:	0.750000
MA20:	0.847500
MA50:	0.805000
MA100:	0.953600
MAexp7:	0.827261
MAexp20:	1.031539
MAexp50:	1.126911
MAexp100:	0.936314
Price / MA7:	-2.67%
Price / MA20:	-13.86%
Price / MA50:	-9.32%
Price / MA100:	-23.45%
Price / MAexp7:	-11.76%
Price / MAexp20:	-29.23%
Price / MAexp50:	-35.22%
Price / MAexp100:	-22.03%

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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