ALGORAND - ALGO/USD

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- Real time data - CoinMarketCap

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Type:	Cryptocurrencies
Ticker:	ALGOUSD
ISIN:

ALGORAND - ALGO/USD - Daily - Technical analysis published on 08/24/2024 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Slightly bullish

Technical indicators

89%

11%

My opinion

Bullish above 0.130000 USD

My targets

0.170000 USD (+13.33%)

0.200000 USD (+33.33%)

My analysis

The short-term increase currently reinforces the basic trend, which is only slightly bullish. It would be possible for traders to only trade long positions (at the time of purchase) on ALGORAND - ALGO/USD as long as the price remains well above 0.130000 USD. The buyers' bullish objective is set at 0.170000 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 0.200000 USD. If there is any crossing, the next objective would be the resistance located at 0.230000 USD.

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

5.7

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 euletthomas.

Additional analysis

Quotes

ALGORAND - ALGO/USD rating 0.150000 USD. The price registered an increase of +7.14% on the session and was between 0.140000 USD and 0.150000 USD. This implies that the price is at +7.14% from its lowest and at 0% from its highest.

0.140000

0.150000

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

The Central Records scanner, which identifies the highest / lowest, has detected an element:

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

A technical analysis in Daily of this ALGORAND - ALGO/USD chart shows a slightly bullish trend. 60.71% of the signals given by moving averages are bullish. The overall trend could accelerate as strong bullish signals from short-term moving averages are expected. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:

Bullish price crossover with Moving Average 100

Type : Bullish

Timeframe : Daily

Bullish price crossover with adaptative moving average 50

Type : Bullish

Timeframe : Daily

Bullish price crossover with adaptative moving average 100

Type : Bullish

Timeframe : Daily

The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : Daily

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

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

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Daily

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Weekly

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

Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:

Doji

Type : Neutral

Timeframe : Daily

ProTrendLines

Price

	S2	S1	Price	R1	R2	R3
ProTrendLines	0.094000	0.130000	0.150000	0.170000	0.230000	0.280000
Change (%)	-37.33%	-13.33%	-	+13.33%	+53.33%	+86.67%
Change	-0.056000	-0.020000	-	+0.020000	+0.080000	+0.130000
Level	Intermediate	Intermediate	-	Major	Minor	Minor

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.126667	0.133333	0.136667	0.143333	0.146667	0.153333	0.156667
Camarilla	0.137250	0.138167	0.139083	0.140000	0.140917	0.141833	0.142750
Woodie	0.125000	0.132500	0.135000	0.142500	0.145000	0.152500	0.155000
Fibonacci	0.133333	0.137153	0.139513	0.143333	0.147153	0.149513	0.153333

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.103333	0.106667	0.113333	0.116667	0.123333	0.126667	0.133333
Camarilla	0.117250	0.118167	0.119083	0.120000	0.120917	0.121833	0.122750
Woodie	0.105000	0.107500	0.115000	0.117500	0.125000	0.127500	0.135000
Fibonacci	0.106667	0.110487	0.112847	0.116667	0.120487	0.122847	0.126667

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.080000	0.100000	0.120000	0.140000	0.160000	0.180000	0.200000
Camarilla	0.129000	0.132667	0.136333	0.140000	0.143667	0.147333	0.151000
Woodie	0.080000	0.100000	0.120000	0.140000	0.160000	0.180000	0.200000
Fibonacci	0.100000	0.115280	0.124720	0.140000	0.155280	0.164720	0.180000

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):	76.61
MACD (12,26,9):	0.0020
Directional Movement:	2.757573
AROON (14):	78.571429
DEMA (21):	0.129604
Parabolic SAR (0,02-0,02-0,2):	0.097978
Elder Ray (13):	0.014224
Super Trend (3,10):	0.123285
Zig ZAG (10):	0.150000
VORTEX (21):	1.1250
Stochastique (14,3,5):	91.67
TEMA (21):	0.135822
Williams %R (14):	0.00
Chande Momentum Oscillator (20):	0.030000
Repulse (5,40,3):	11.1843
ROCnROLL:	1
TRIX (15,9):	-0.2829
Courbe Coppock:	28.66

MA7:	0.132857
MA20:	0.123000
MA50:	0.134000
MA100:	0.149000
MAexp7:	0.135881
MAexp20:	0.129136
MAexp50:	0.134152
MAexp100:	0.147678
Price / MA7:	+12.90%
Price / MA20:	+21.95%
Price / MA50:	+11.94%
Price / MA100:	+0.67%
Price / MAexp7:	+10.39%
Price / MAexp20:	+16.16%
Price / MAexp50:	+11.81%
Price / MAexp100:	+1.57%

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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