ALGORAND - ALGO/USDT - Daily - Technical analysis published on 08/31/2020 (GMT)
- 237
- 0
- Who voted?
Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bullish
Technical indicators
11%
61%
28%
My opinion
Bullish above 0.494600 USDT
My targets
0.611733 USDT (+19.36%)
0.626800 USDT (+22.30%)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers” generally have the upper hand, even if a small correction (not tradeable) on the support located at 0.494600 USDT remains possible. It is advisable to trade ALGORAND - ALGO/USDT with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 0.494600 USDT. The next bullish objective for buyers is set at 0.611733 USDT. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 0.626800 USDT. If there is any crossing, the next objective would be the resistance located at 0.669300 USDT. PS: if there is a bearish break in the support located at 0.494600 USDT we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
In the very short term, the general bullish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bullish direction is still favored, however the current short term bearish correction should be carefully watched.
Force
0
10
1.6
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 Crypler. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The ALGORAND - ALGO/USDT price is 0.512500 USDT. The price registered a decrease of -1.04% on the session and was between 0.508900 USDT and 0.526300 USDT. This implies that the price is at +0.71% from its lowest and at -2.62% from its highest.0.508900
0.526300
0.512500
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of this Daily chart of ALGORAND - ALGO/USDT indicates that the overall trend is bullish. 75.00% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 11 technical indicators on 18 studied are currently bearish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Support of channel is broken
Type : Bearish
Timeframe : Daily
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 0.229407 | 0.389543 | 0.494600 | 0.512500 | 0.626800 | 0.669300 |
| Change (%) | -55.24% | -23.99% | -3.49% | - | +22.30% | +30.60% |
| Change | -0.283093 | -0.122957 | -0.017900 | - | +0.114300 | +0.156800 |
| Level | Major | Intermediate | Intermediate | - | Intermediate | Major |
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 | 0.463400 | 0.487100 | 0.502500 | 0.526200 | 0.541600 | 0.565300 | 0.580700 |
| Camarilla | 0.507148 | 0.510732 | 0.514316 | 0.517900 | 0.521484 | 0.525068 | 0.528653 |
| Woodie | 0.459250 | 0.485025 | 0.498350 | 0.524125 | 0.537450 | 0.563225 | 0.576550 |
| Fibonacci | 0.487100 | 0.502036 | 0.511264 | 0.526200 | 0.541136 | 0.550364 | 0.565300 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.290867 | 0.391433 | 0.462667 | 0.563233 | 0.634467 | 0.735033 | 0.806267 |
| Camarilla | 0.486655 | 0.502403 | 0.518152 | 0.533900 | 0.549648 | 0.565397 | 0.581145 |
| Woodie | 0.276200 | 0.384100 | 0.448000 | 0.555900 | 0.619800 | 0.727700 | 0.791600 |
| Fibonacci | 0.391433 | 0.457061 | 0.497606 | 0.563233 | 0.628861 | 0.669406 | 0.735033 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.024333 | 0.113167 | 0.220133 | 0.308967 | 0.415933 | 0.504767 | 0.611733 |
| Camarilla | 0.273255 | 0.291203 | 0.309152 | 0.327100 | 0.345048 | 0.362997 | 0.380945 |
| Woodie | 0.033400 | 0.117700 | 0.229200 | 0.313500 | 0.425000 | 0.509300 | 0.620800 |
| Fibonacci | 0.113167 | 0.187962 | 0.234171 | 0.308967 | 0.383762 | 0.429971 | 0.504767 |
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): | 49.98 | |
| MACD (12,26,9): | 0.0255 | |
| Directional Movement: | 0.530398 | |
| AROON (14): | -71.428574 | |
| DEMA (21): | 0.577112 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.643802 | |
| Elder Ray (13): | -0.025011 | |
| Super Trend (3,10): | 0.460482 | |
| Zig ZAG (10): | 0.511800 | |
| VORTEX (21): | 1.0567 | |
| Stochastique (14,3,5): | 15.04 | |
| TEMA (21): | 0.554011 | |
| Williams %R (14): | -88.49 | |
| Chande Momentum Oscillator (20): | -0.084500 | |
| Repulse (5,40,3): | -8.0018 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 1.4446 | |
| Courbe Coppock: | 15.91 |
| MA7: | 0.532971 | |
| MA20: | 0.576875 | |
| MA50: | 0.437100 | |
| MA100: | 0.334457 | |
| MAexp7: | 0.534742 | |
| MAexp20: | 0.532978 | |
| MAexp50: | 0.455958 | |
| MAexp100: | 0.377723 | |
| Price / MA7: | -3.84% | |
| Price / MA20: | -11.16% | |
| Price / MA50: | +17.25% | |
| Price / MA100: | +53.23% | |
| Price / MAexp7: | -4.16% | |
| Price / MAexp20: | -3.84% | |
| Price / MAexp50: | +12.40% | |
| Price / MAexp100: | +35.68% |
Quotes :
2020-08-31 20:51:56
-
Real time data
-
Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
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…
Add a comment
Comments
0 comments on the analysis ALGORAND - ALGO/USDT - Daily