ALGORAND - ALGO/USD

0.9537 USD (+0.16%)

03/28/2025 - 21:13 Closed Real time data - CoinMarketCap

Open:	0.9522
Change:	+0.0015
Volume:	33,423

Low:	0.9503
High:	0.9550
High / Low range:	0.0047

Type:	Cryptocurrencies
Ticker:	ALGOUSD
ISIN:

ALGORAND - ALGO/USD - Daily - Technical analysis published on 09/11/2022 (GMT)

264
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09/11/2022 - 02:35
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Londinia

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Timeframe : Daily
- Analysis generated on 09/11/2022 - 02:35
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Slightly bearish

Technical indicators

78%

22%

My opinion

Bullish above 0.291111 USD

My targets

0.370588 USD (+12.30%)

0.453333 USD (+37.37%)

My analysis

The current short-term bullish trend is expected to quickly reset the neutral or bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for ALGORAND - ALGO/USD as long as the price remains well above 0.291111 USD. The buyers' bullish objective is set at 0.370588 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 0.453333 USD. If there is any crossing, the next objective would be the resistance located at 0.570000 USD. As the basic trend is not clearly displayed, attention should be paid to the price reaction to the resistance at 0.370588 USD. On this resistance, against the trend traders who would like to go short on ALGORAND - ALGO/USD with a bearish signal from their trading strategy, should not hesitate to act.

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

Force

3.2

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

Additional analysis

Quotes

The ALGORAND - ALGO/USD rating is 0.330000 USD. On the day, this instrument gained +3.13% and was between 0.320000 USD and 0.330000 USD. This implies that the price is at +3.13% from its lowest and at 0% from its highest.

0.320000

0.330000

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

Technical

Technical analysis of this Daily chart of ALGORAND - ALGO/USD indicates that the overall trend is slightly bearish. 53.57% of the signals given by moving averages are bearish. Caution: the strong bullish signals currently being given by short-term moving averages could quickly lead to a reversal of the trend. An assessment of moving averages reveals several bullish signals that could impact this trend:

Bullish trend reversal : Moving Average 20

Type : Bullish

Timeframe : Daily

Bullish trend reversal : adaptative moving average 20

Type : Bullish

Timeframe : Daily

Bullish price crossover with adaptative moving average 20

Type : Bullish

Timeframe : Daily

The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

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 these signals:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

Parabolic SAR indicator bullish reversal

Type : Bullish

Timeframe : Daily

Price is back over the pivot point

Type : Bullish

Timeframe : Daily

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

There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:

Doji

Type : Neutral

Timeframe : Daily

ProTrendLines

Price

	S1	Price	R1	R2	R3
ProTrendLines	0.291111	0.330000	0.370588	0.570000	0.679857
Change (%)	-11.78%	-	+12.30%	+72.73%	+106.02%
Change	-0.038889	-	+0.040588	+0.240000	+0.349857
Level	Major	-	Intermediate	Minor	Minor

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.306667	0.313333	0.316667	0.323333	0.326667	0.333333	0.336667
Camarilla	0.317250	0.318167	0.319083	0.320000	0.320917	0.321833	0.322750
Woodie	0.305000	0.312500	0.315000	0.322500	0.325000	0.332500	0.335000
Fibonacci	0.313333	0.317153	0.319513	0.323333	0.327153	0.329513	0.333333

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.240000	0.260000	0.290000	0.310000	0.340000	0.360000	0.390000
Camarilla	0.306250	0.310833	0.315417	0.320000	0.324583	0.329167	0.333750
Woodie	0.245000	0.262500	0.295000	0.312500	0.345000	0.362500	0.395000
Fibonacci	0.260000	0.279100	0.290900	0.310000	0.329100	0.340900	0.360000

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.153333	0.216667	0.253333	0.316667	0.353333	0.416667	0.453333
Camarilla	0.262500	0.271667	0.280833	0.290000	0.299167	0.308333	0.317500
Woodie	0.140000	0.210000	0.240000	0.310000	0.340000	0.410000	0.440000
Fibonacci	0.216667	0.254867	0.278467	0.316667	0.354867	0.378467	0.416667

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):	54.38
MACD (12,26,9):	-0.0021
Directional Movement:	8.755423
AROON (14):	85.714286
DEMA (21):	0.303322
Parabolic SAR (0,02-0,02-0,2):	0.281980
Elder Ray (13):	0.016906
Super Trend (3,10):	0.337200
Zig ZAG (10):	0.320000
VORTEX (21):	1.0588
Stochastique (14,3,5):	80.00
TEMA (21):	0.308061
Williams %R (14):	-20.00
Chande Momentum Oscillator (20):	0.030000
Repulse (5,40,3):	0.3171
ROCnROLL:	-1
TRIX (15,9):	-0.3517
Courbe Coppock:	12.22

MA7:	0.308571
MA20:	0.301000
MA50:	0.324000
MA100:	0.328600
MAexp7:	0.314443
MAexp20:	0.308600
MAexp50:	0.320921
MAexp100:	0.371768
Price / MA7:	+6.94%
Price / MA20:	+9.63%
Price / MA50:	+1.85%
Price / MA100:	+0.43%
Price / MAexp7:	+4.95%
Price / MAexp20:	+6.93%
Price / MAexp50:	+2.83%
Price / MAexp100:	-11.23%

Quotes : 09/11/2022 - 02:35 - Real time data - Cryptocompare

This member declared not having a position on this financial instrument or a related financial instrument.

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