ALGORAND - ALGO/USD - Weekly - Technical analysis published on 10/01/2022 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Bearish
Technical indicators
61%
11%
28%
My opinion
Bearish under 0.476667 USD
My targets
0.283000 USD (-21.39%)
My analysis
All elements being rather 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 0.476667 USD. The next bearish objective for sellers is set at 0.283000 USD. A bearish break of this support would revive the bearish momentum. Be careful, the short term currently seems to be losing momentum. Its reversal would lead to mitigation of the, bearish, basic trend. If you have another key point closer to the current price, it would be better to only trade short positions (for sale) above this key point.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
2.3
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This analysis was given by Nhanna0513. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The ALGORAND - ALGO/USD price is 0.360000 USD. Over 5 days, this instrument lost -7.69% and has been traded over the last 5 days between 0.330000 USD and 0.380000 USD. This implies that the 5 day price is +9.09% from its lowest point and -5.26% from its highest point.0.330000
0.380000
0.360000
Here is a more detailed summary of the historical variations registered by ALGORAND - ALGO/USD:
Technical
Technical analysis of this Weekly chart of ALGORAND - ALGO/USD indicates that the overall trend is bearish. 75.00% of the signals given by moving averages are bearish. This bearish trend is slowing down slightly given the slightly bearish signals given by short-term moving averages. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish trend reversal : Moving Average 100
Type : Bullish
Timeframe : Weekly
The technical indicators are bullish. There is still some doubt about the price increase.
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.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S1
R1
R2
R3
Price
| S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|
| ProTrendLines | 0.283000 | 0.360000 | 0.679857 | 1.300000 | 1.715600 |
| Change (%) | -21.39% | - | +88.85% | +261.11% | +376.56% |
| Change | -0.077000 | - | +0.319857 | +0.940000 | +1.355600 |
| Level | Major | - | Minor | Minor | Intermediate |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.323333 | 0.336667 | 0.343333 | 0.356667 | 0.363333 | 0.376667 | 0.383333 |
| Camarilla | 0.344500 | 0.346333 | 0.348167 | 0.350000 | 0.351833 | 0.353667 | 0.355500 |
| Woodie | 0.320000 | 0.335000 | 0.340000 | 0.355000 | 0.360000 | 0.375000 | 0.380000 |
| Fibonacci | 0.336667 | 0.344307 | 0.349027 | 0.356667 | 0.364307 | 0.369027 | 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 | 0.283333 | 0.346667 | 0.413333 | 0.476667 | 0.543333 |
| Camarilla | 0.314250 | 0.326167 | 0.338083 | 0.350000 | 0.361917 | 0.373833 | 0.385750 |
| Woodie | 0.155000 | 0.217500 | 0.285000 | 0.347500 | 0.415000 | 0.477500 | 0.545000 |
| Fibonacci | 0.216667 | 0.266327 | 0.297007 | 0.346667 | 0.396327 | 0.427007 | 0.476667 |
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): | 41.13 | |
| MACD (12,26,9): | -0.1193 | |
| Directional Movement: | -4.289445 | |
| AROON (14): | 85.714286 | |
| DEMA (21): | 0.227000 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.282600 | |
| Elder Ray (13): | 0.008563 | |
| Super Trend (3,10): | 0.553347 | |
| Zig ZAG (10): | 0.360000 | |
| VORTEX (21): | 0.8529 | |
| Stochastique (14,3,5): | 52.05 | |
| TEMA (21): | 0.268535 | |
| Williams %R (14): | -38.46 | |
| Chande Momentum Oscillator (20): | 0.050000 | |
| Repulse (5,40,3): | 7.8582 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -3.6116 | |
| Courbe Coppock: | 10.37 |
| MA7: | 0.360000 | |
| MA20: | 0.339000 | |
| MA50: | 0.322400 | |
| MA100: | 0.327300 | |
| MAexp7: | 0.340899 | |
| MAexp20: | 0.411256 | |
| MAexp50: | 0.658184 | |
| MAexp100: | 0.722708 | |
| Price / MA7: | -0% | |
| Price / MA20: | +6.19% | |
| Price / MA50: | +11.66% | |
| Price / MA100: | +9.99% | |
| Price / MAexp7: | +5.60% | |
| Price / MAexp20: | -12.46% | |
| Price / MAexp50: | -45.30% | |
| Price / MAexp100: | -50.19% |
Quotes :
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Real time data
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