Based on today's classical pivot point (P1) with the value of $0.1138, Algorand has support levels of $0.1098, $0.1071, and the strongest at $0.1032. Similarly, Algorand resistance levels are at $0.1164, $0.1204, and $0.1230.
| # | Price | Strength |
|---|---|---|
| S1 | $0.1098 | |
| S2 | $0.1071 | |
| S3 | $0.1032 |
| # | Price | Strength |
|---|---|---|
| R1 | $0.1164 | |
| R2 | $0.1204 | |
| R3 | $0.1230 |
Technical indicators are an essential tool for conducting technical analysis. They provide insights into an asset's market status, investor sentiment, and more, thereby helping investors make more informed trading decisions.
| Period | Value | Action |
|---|---|---|
| RSI (14) | 25.08 | BUY |
| Stoch RSI (14) | 43.76 | NEUTRAL |
| Stochastic Fast (14) | 25.64 | NEUTRAL |
| Commodity Channel Index (20) | -66.67 | NEUTRAL |
| Average Directional Index (14) | 52.32 | BUY |
| Awesome Oscillator (5, 34) | -0.02 | NEUTRAL |
| Momentum (10) | -0.01 | NEUTRAL |
| MACD (12, 26) | 0.00 | NEUTRAL |
| Williams Percent Range (14) | -74.36 | NEUTRAL |
| Ultimate Oscillator (7, 14, 28) | 51.33 | NEUTRAL |
| VWMA (10) | 0.11 | SELL |
| Hull Moving Average (9) | 0.11 | BUY |
| Ichimoku Cloud B/L (9, 26, 52, 26) | 0.12 | NEUTRAL |
Over the past 7 days, Algorand price was most positively correlated with the price of Toncoin (TON), Lido DAO Token (LDO), Immutable X (IMX), Cosmos (ATOM) and Arbitrum (ARB) and most negatively correlated with the price of JUST (JST), Sun Token (SUN), TRON (TRX), Nexo (NEXO) and APENFT (NFT).
| Name | Correlation |
|---|---|
| Toncoin | 0.811 |
| Lido DAO Token | 0.770 |
| Immutable X | 0.724 |
| Cosmos | 0.722 |
| Arbitrum | 0.680 |
| Name | Correlation |
|---|---|
| JUST | -0.724 |
| Sun Token | -0.688 |
| TRON | -0.638 |
| Nexo | -0.516 |
| APENFT | -0.459 |
Algorand price is positively correlated with the top 10 coins by market cap with a price of 0.373, excluding Tether (USDT) and positively correlated with the top 100 coins by market cap excluding all stablecoins with a price of 0.146.
Currencies that are positively correlated with Algorand indicate that the movement of one has a statistically significant weight to lead the other in the same direction. For currencies that are negatively correlated with Algorand, a move in one direction for Algorand would translate into a move in the opposite direction for the negatively correlated coin.
