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Algorand / TetherUS
Long

ALGOUSDT Bullish Wedge Breakout

By abdussamed
Updated
Algo is slowly breaking out of a bullish wedge. There is resistance on .800 USDT
Comment
Currently, it looks like a cup and handle. Price will have to keep 50% Fib level of .770 for this to be valid.

Candlestick analysis: 4H candle that dipped to .77 and bounced, turned green. If the next 4H is above .820, the 6H would be engulfing the previous 6H red candle which might indicate more buying to close the next 12H candle green above .825.

This might give a strong indication on the cup and handle playing out.
Comment
snapshot
algoalgorandALGOUSDTTechnical Indicators
abdussamed

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