ALGORAND - ALGO/USDT

- USDT (-)

- Real time data - Cryptocompare

Open:	-
Change:	-
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Type:	Cryptocurrencies
Ticker:	ALGOUSDT
ISIN:

ALGORAND - ALGO/USDT - Daily - Technical analysis published on 02/08/2023 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Bullish

Technical indicators

83%

11%

My opinion

Bullish above 0.282880 USDT

My targets

0.318867 USDT (+10.18%)

0.368400 USDT (+27.30%)

My analysis

ALGORAND - ALGO/USDT is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 0.282880 USDT. The next resistance located at 0.318867 USDT is the next bullish target to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 0.368400 USDT. After this resistance, buyers could then target 0.399400 USDT.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

6.8

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 finacian. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

ALGORAND - ALGO/USDT rating 0.289400 USDT. On the day, this instrument gained +3.51% with the lowest point at 0.277300 USDT and the highest point at 0.289600 USDT. The deviation from the price is +4.36% for the low point and -0.07% for the high point.

0.277300

0.289600

0.289400

The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Bullish opening

Type : Bullish

Timeframe : Openning

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

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

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

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. This bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

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

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 recently detected a signal:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	0.164967	0.227100	0.282880	0.289400	0.368400	0.399400	0.423600
Change (%)	-43.00%	-21.53%	-2.25%	-	+27.30%	+38.01%	+46.37%
Change	-0.124433	-0.062300	-0.006520	-	+0.079000	+0.110000	+0.134200
Level	Intermediate	Major	Major	-	Minor	Intermediate	Intermediate

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.228333	0.241067	0.260333	0.273067	0.292333	0.305067	0.324333
Camarilla	0.270800	0.273733	0.276667	0.279600	0.282533	0.285467	0.288400
Woodie	0.231600	0.242700	0.263600	0.274700	0.295600	0.306700	0.327600
Fibonacci	0.241067	0.253291	0.260843	0.273067	0.285291	0.292843	0.305067

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.198267	0.214733	0.240867	0.257333	0.283467	0.299933	0.326067
Camarilla	0.255285	0.259190	0.263095	0.267000	0.270905	0.274810	0.278715
Woodie	0.203100	0.217150	0.245700	0.259750	0.288300	0.302350	0.330900
Fibonacci	0.214733	0.231007	0.241060	0.257333	0.273607	0.283660	0.299933

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.093733	0.132467	0.186933	0.225667	0.280133	0.318867	0.373333
Camarilla	0.215770	0.224313	0.232857	0.241400	0.249943	0.258487	0.267030
Woodie	0.101600	0.136400	0.194800	0.229600	0.288000	0.322800	0.381200
Fibonacci	0.132467	0.168069	0.190064	0.225667	0.261269	0.283264	0.318867

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):	68.01
MACD (12,26,9):	0.0144
Directional Movement:	15.264238
AROON (14):	100.000000
DEMA (21):	0.271661
Parabolic SAR (0,02-0,02-0,2):	0.243495
Elder Ray (13):	0.021687
Super Trend (3,10):	0.233707
Zig ZAG (10):	0.287100
VORTEX (21):	1.1992
Stochastique (14,3,5):	80.33
TEMA (21):	0.277476
Williams %R (14):	-2.14
Chande Momentum Oscillator (20):	0.031600
Repulse (5,40,3):	7.6723
ROCnROLL:	1
TRIX (15,9):	0.8681
Courbe Coppock:	19.76

MA7:	0.267000
MA20:	0.253775
MA50:	0.216722
MA100:	0.240548
MAexp7:	0.268993
MAexp20:	0.253002
MAexp50:	0.237478
MAexp100:	0.246309
Price / MA7:	+8.39%
Price / MA20:	+14.04%
Price / MA50:	+33.54%
Price / MA100:	+20.31%
Price / MAexp7:	+7.59%
Price / MAexp20:	+14.39%
Price / MAexp50:	+21.86%
Price / MAexp100:	+17.49%

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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