EuroMotif

ALGO.usd at a critical level: large move inbound but which way?

COINBASE:ALGOUSD   Algorand
Part of my ongoing AlgroRand analysis, sorry for lapse in posts.
Please hit the LIKES to encourage more of these publications.
Between Mod duties and my own trading it is not easy to post.

Algo dropped with the entire market but is showing some signs of life.
Now between some strong fibs, a breakout from which could accelerate.
Of course this coin depends on Bitcoin sentiment, just like everything else.

Green 2.618 in lower right at $0.1675 is the key support right now.
Red 3.618 in Left chart is the last support before big drop possibility.
Red 2.618 in Left chart is the ideal target for at least a retrace of drop.

CHART NOTES:
- if you see "fuzzy" numbers, it is a TV rendering bug, not on purpose.
- blow up any of the 3 charts: hover over lower center, click square icon.

.

Previous Algo analysis (click):
.22 Retrace Target
.25 Rocket Launch
.25 Retrace Map
.29 Top Alert
.24 Bounce Call
.20 Bottom Map

.

I also plot Forex and Stocks, take a look at my profile page.

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.