ALGORAND - ALGO/USD

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

Londinia

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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

4.3

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 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

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

The Central Records scanner for higher/lower results shows the following items:

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:

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:

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:

Doji

Type : Neutral

Timeframe : Daily

ProTrendLines

Price

	S1	Price	R1	R2	R3
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
Standard	0.146667	0.153333	0.156667	0.163333	0.166667	0.173333	0.176667
Camarilla	0.157250	0.158167	0.159083	0.160000	0.160917	0.161833	0.162750
Woodie	0.145000	0.152500	0.155000	0.162500	0.165000	0.172500	0.175000
Fibonacci	0.153333	0.157153	0.159513	0.163333	0.167153	0.169513	0.173333

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.133333	0.146667	0.153333	0.166667	0.173333	0.186667	0.193333
Camarilla	0.154500	0.156333	0.158167	0.160000	0.161833	0.163667	0.165500
Woodie	0.130000	0.145000	0.150000	0.165000	0.170000	0.185000	0.190000
Fibonacci	0.146667	0.154307	0.159027	0.166667	0.174307	0.179027	0.186667

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.083333	0.126667	0.153333	0.196667	0.223333	0.266667	0.293333
Camarilla	0.160750	0.167167	0.173583	0.180000	0.186417	0.192833	0.199250
Woodie	0.075000	0.122500	0.145000	0.192500	0.215000	0.262500	0.285000
Fibonacci	0.126667	0.153407	0.169927	0.196667	0.223407	0.239927	0.266667

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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