Based on today's classical pivot point (P1) with the value of $0.1113, Algorand has support levels of $0.1093, $0.1070, and the strongest at $0.1051. Similarly, Algorand resistance levels are at $0.1136, $0.1156, and $0.1178.
| # | Price | Strength |
|---|---|---|
| S1 | $0.1093 | |
| S2 | $0.1070 | |
| S3 | $0.1051 |
| # | Price | Strength |
|---|---|---|
| R1 | $0.1136 | |
| R2 | $0.1156 | |
| R3 | $0.1178 |
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 Lido DAO Token (LDO), Artificial Superintelligence Alliance (FET), Toncoin (TON), Arbitrum (ARB) and Immutable X (IMX) and most negatively correlated with the price of JUST (JST), TRON (TRX), Trust Wallet Token (TWT), APENFT (NFT) and Sun Token (SUN).
| Name | Correlation |
|---|---|
| Lido DAO Token | 0.829 |
| Artificial Superintelligence Alliance | 0.814 |
| Toncoin | 0.807 |
| Arbitrum | 0.801 |
| Immutable X | 0.780 |
| Name | Correlation |
|---|---|
| JUST | -0.590 |
| TRON | -0.408 |
| Trust Wallet Token | -0.330 |
| APENFT | -0.294 |
| Sun Token | -0.253 |
Algorand price is positively correlated with the top 10 coins by market cap with a price of 0.496, excluding Tether (USDT) and positively correlated with the top 100 coins by market cap excluding all stablecoins with a price of 0.350.
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.
