ALGORAND - ALGO/USD

- USD (-)

- Real time data - Cryptocompare

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Type:	Cryptocurrencies
Ticker:	ALGOUSD
ISIN:

ALGORAND - ALGO/USD - Daily - Technical analysis published on 09/29/2022 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : LEVEL MAINTAINED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

50%

44%

My opinion

Bullish above 0.316667 USD

My targets

0.370588 USD (+2.94%)

0.453333 USD (+25.93%)

My analysis

ALGORAND - ALGO/USD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 0.316667 USD. The next resistance located at 0.370588 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 0.453333 USD. After this resistance, buyers could then target 0.570000 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

6.4

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 Londinia.

Additional analysis

Quotes

The ALGORAND - ALGO/USD price is 0.360000 USD. On the day, this instrument gained +2.86% and was traded between 0.350000 USD and 0.360000 USD over the period. The price is currently at +2.86% from its lowest and 0% from its highest.

0.350000

0.360000

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/USD indicates that the overall trend is strongly bullish. 82.14% 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. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

The probability of a further increase is slight given the direction of the technical indicators.
Central Indicators, the detector scanner for these technical indicators recently detected a signal:

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly

The analysis of the price chart with Central Patterns scanners does not return any result.

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S1	Price	R1	R2	R3
ProTrendLines	0.283000	0.360000	0.370588	0.570000	0.679857
Change (%)	-21.39%	-	+2.94%	+58.33%	+88.85%
Change	-0.077000	-	+0.010588	+0.210000	+0.319857
Level	Major	-	Intermediate	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	0.303333	0.316667	0.333333	0.346667	0.363333	0.376667	0.393333
Camarilla	0.341750	0.344500	0.347250	0.350000	0.352750	0.355500	0.358250
Woodie	0.305000	0.317500	0.335000	0.347500	0.365000	0.377500	0.395000
Fibonacci	0.316667	0.328127	0.335207	0.346667	0.358127	0.365207	0.376667

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.196667	0.243333	0.316667	0.363333	0.436667	0.483333	0.556667
Camarilla	0.357000	0.368000	0.379000	0.390000	0.401000	0.412000	0.423000
Woodie	0.210000	0.250000	0.330000	0.370000	0.450000	0.490000	0.570000
Fibonacci	0.243333	0.289173	0.317493	0.363333	0.409173	0.437493	0.483333

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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	56.82
MACD (12,26,9):	0.0150
Directional Movement:	3.224935
AROON (14):	57.142857
DEMA (21):	0.361345
Parabolic SAR (0,02-0,02-0,2):	0.408400
Elder Ray (13):	0.002862
Super Trend (3,10):	0.311420
Zig ZAG (10):	0.360000
VORTEX (21):	1.1176
Stochastique (14,3,5):	52.78
TEMA (21):	0.373730
Williams %R (14):	-41.67
Chande Momentum Oscillator (20):	0.050000
Repulse (5,40,3):	1.9017
ROCnROLL:	1
TRIX (15,9):	0.5813
Courbe Coppock:	40.31

MA7:	0.372857
MA20:	0.336500
MA50:	0.323000
MA100:	0.326800
MAexp7:	0.359927
MAexp20:	0.343562
MAexp50:	0.332544
MAexp100:	0.359718
Price / MA7:	-3.45%
Price / MA20:	+6.98%
Price / MA50:	+11.46%
Price / MA100:	+10.16%
Price / MAexp7:	+0.02%
Price / MAexp20:	+4.78%
Price / MAexp50:	+8.26%
Price / MAexp100:	+0.08%

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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Londinia AI

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