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 06/08/2023 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

17%

67%

17%

My opinion

Bearish under 0.140000 USD

My targets

0.110000 USD (-15.38%)

My analysis

The bearish trend is currently very strong for ALGORAND - ALGO/USD. As long as the price remains below the resistance at 0.140000 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 0.110000 USD. The bearish momentum would be revived by a break in this support. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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 sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.

Force

7.7

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

ALGORAND - ALGO/USD rating 0.130000 USD. The price registered an increase of +8.33% on the session with the lowest point at 0.120000 USD and the highest point at 0.130000 USD. The deviation from the price is +8.33% for the low point and 0% for the high point.

0.120000

0.130000

Here is a more detailed summary of the historical variations registered by ALGORAND - ALGO/USD:

The study of the highest / lowest by the Central Records scanner shows the following results:

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

Technical analysis of ALGORAND - ALGO/USD in Daily shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

In fact, 12 technical indicators on 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : Daily

Previous candle closed under Bollinger bands

Type : Neutral

Timeframe : Daily

Other results related to technical indicators were also found by the Central Indicators scanner:

Pivot points : price is under support 3

Type : Neutral

Timeframe : Weekly

Price is back over the pivot point

Type : Bullish

Timeframe : Daily

No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

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

ProTrendLines

Price

	Price	R1	R2	R3
ProTrendLines	0.130000	0.150000	0.170000	0.230000
Change (%)	-	+15.38%	+30.77%	+76.92%
Change	-	+0.020000	+0.040000	+0.100000
Level	-	Minor	Intermediate	Intermediate

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	0.093333	0.106667	0.113333	0.126667	0.133333	0.146667	0.153333
Camarilla	0.114500	0.116333	0.118167	0.120000	0.121833	0.123667	0.125500
Woodie	0.090000	0.105000	0.110000	0.125000	0.130000	0.145000	0.150000
Fibonacci	0.106667	0.114307	0.119027	0.126667	0.134307	0.139027	0.146667

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.133333	0.136667	0.143333	0.146667	0.153333	0.156667	0.163333
Camarilla	0.147250	0.148167	0.149083	0.150000	0.150917	0.151833	0.152750
Woodie	0.135000	0.137500	0.145000	0.147500	0.155000	0.157500	0.165000
Fibonacci	0.136667	0.140487	0.142847	0.146667	0.150487	0.152847	0.156667

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.110000	0.130000	0.140000	0.160000	0.170000	0.190000	0.200000
Camarilla	0.141750	0.144500	0.147250	0.150000	0.152750	0.155500	0.158250
Woodie	0.105000	0.127500	0.135000	0.157500	0.165000	0.187500	0.195000
Fibonacci	0.130000	0.141460	0.148540	0.160000	0.171460	0.178540	0.190000

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):	26.56
MACD (12,26,9):	-0.0095
Directional Movement:	-41.291429
AROON (14):	-92.857143
DEMA (21):	0.135374
Parabolic SAR (0,02-0,02-0,2):	0.144600
Elder Ray (13):	-0.017738
Super Trend (3,10):	0.146060
Zig ZAG (10):	0.130000
VORTEX (21):	0.6364
Stochastique (14,3,5):	22.22
TEMA (21):	0.133993
Williams %R (14):	-66.67
Chande Momentum Oscillator (20):	-0.020000
Repulse (5,40,3):	-3.6190
ROCnROLL:	2
TRIX (15,9):	-0.6954
Courbe Coppock:	21.31

MA7:	0.140000
MA20:	0.148500
MA50:	0.164800
MA100:	0.190800
MAexp7:	0.137033
MAexp20:	0.147637
MAexp50:	0.165048
MAexp100:	0.186825
Price / MA7:	-7.14%
Price / MA20:	-12.46%
Price / MA50:	-21.12%
Price / MA100:	-31.87%
Price / MAexp7:	-5.13%
Price / MAexp20:	-11.95%
Price / MAexp50:	-21.24%
Price / MAexp100:	-30.42%

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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