ALGORAND - ALGO/USD
ALGORAND - ALGO/USD
- USD (-)
- Real time data - CoinMarketCap
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Type: Cryptocurrencies
Ticker: ALGOUSD
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ALGORAND - ALGO/USD - Daily - Technical analysis published on 05/20/2023 (GMT)

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  • Timeframe : Daily
  • - Analysis generated on
  • Status : TARGET REACHED

Summary of the analysis

Trends
Short term: Bearish
Underlying: Strongly bearish
Technical indicators
50%
17%
33%
My opinion
Bearish under 0.180000 USD
My targets
0.160000 USD (-5.88%)
My analysis
The bearish basic trend is very strong on ALGORAND - ALGO/USD but the short term shows some signs of running out of steam. However, a sale could be considered as long as the price remains below 0.180000 USD. Crossing the first support at 0.160000 USD would be a sign of a further potential price plummet. Caution, a return to above the resistance located at 0.180000 USD would be a sign of a possible consolidation phase of the short-term basic trend. 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, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
4.3

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 rating is 0.170000 USD. On the day, this instrument gained +6.25% and was traded between 0.160000 USD and 0.170000 USD over the period. The price is currently at +6.25% from its lowest and 0% from its highest.

0.160000
0.170000
0.170000

A study of price movements over other periods shows the following variations:
The Central Records scanner for higher/lower results shows the following items:

Central Records

New LOW record (1 year)

Type : Bearish

Timeframe : Weekly


New LOW record (1st january)

Type : Bearish

Timeframe : Weekly


New LOW record (1 month)

Type : Bearish

Timeframe : Weekly



Technical


A technical analysis in Daily of this ALGORAND - ALGO/USD chart shows a sharp bearish trend. 85.71% of the signals given by moving averages are bearish. The slightly bearish signals from short-term moving averages show that the overall trend is slowing down. There is no crossing of moving average by the price or crossing of moving averages between themselves.

In fact, according to the parameters integrated into the Central Analyzer system, only 9 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:

Central Indicators

RSI indicator: bullish divergence

Type : Bullish

Timeframe : Daily


Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : Daily

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Central Indicators

Price is back over the pivot point

Type : Bullish

Timeframe : Daily


Price is back over the pivot point

Type : Bullish

Timeframe : Weekly


Momentum indicator is back over 0

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:

Central Candlesticks

Doji

Type : Neutral

Timeframe : Daily




ProTrendLines
S1
R1
R2
R3
Price


S1PriceR1R2R3
ProTrendLines 0.160000 0.170000 0.180000 0.240000 0.360000
Change (%) -5.88% - +5.88% +41.18% +111.76%
Change -0.010000 - +0.010000 +0.070000 +0.190000
Level Intermediate - Intermediate Major 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
Standard0.1466670.1533330.1566670.1633330.1666670.1733330.176667
Camarilla0.1572500.1581670.1590830.1600000.1609170.1618330.162750
Woodie0.1450000.1525000.1550000.1625000.1650000.1725000.175000
Fibonacci0.1533330.1571530.1595130.1633330.1671530.1695130.173333


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard0.1333330.1466670.1533330.1666670.1733330.1866670.193333
Camarilla0.1545000.1563330.1581670.1600000.1618330.1636670.165500
Woodie0.1300000.1450000.1500000.1650000.1700000.1850000.190000
Fibonacci0.1466670.1543070.1590270.1666670.1743070.1790270.186667


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard0.0833330.1266670.1533330.1966670.2233330.2666670.293333
Camarilla0.1607500.1671670.1735830.1800000.1864170.1928330.199250
Woodie0.0750000.1225000.1450000.1925000.2150000.2625000.285000
Fibonacci0.1266670.1534070.1699270.1966670.2234070.2399270.266667

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): 32.01
MACD (12,26,9): -0.0077
Directional Movement: -15.238039
AROON (14): -14.285714
DEMA (21): 0.159625
Parabolic SAR (0,02-0,02-0,2): 0.170000
Elder Ray (13): -0.001909
Super Trend (3,10): 0.183752
Zig ZAG (10): 0.160000
VORTEX (21): 0.8750
Stochastique (14,3,5): 33.33
TEMA (21): 0.162745
Williams %R (14): -50.00
Chande Momentum Oscillator (20): 0.010000
Repulse (5,40,3): 5.2644
ROCnROLL: -1
TRIX (15,9): -0.6923
Courbe Coppock: 11.31
MA7: 0.165714
MA20: 0.170000
MA50: 0.192200
MA100: 0.212500
MAexp7: 0.164519
MAexp20: 0.171636
MAexp50: 0.186515
MAexp100: 0.204417
Price / MA7: +2.59%
Price / MA20: -0%
Price / MA50: -11.55%
Price / MA100: -20.00%
Price / MAexp7: +3.33%
Price / MAexp20: -0.95%
Price / MAexp50: -8.85%
Price / MAexp100: -16.84%

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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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…

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