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LochubT
Jun 8, 2022 6:16 AM

ALGO, along the uptrend line. 

Algorand / United States DollarCoinbase

Description

The following content is machine translation:

In the 4-hour chart, it rebounded from May 12 and stepped back. It stopped falling on May 29, and then started to oscillate upward. On the way, the low point of the callback continued to rise, forming an upward trend line, but it formed resistance at the price of 0.42. The second time around 0.42 was suppressed and fell back. It fell to the rising trend line yesterday, stopped falling and rebounded. Now it has reached around 0.42 again. If the resistance level of 0.42 cannot be effectively broken here, there is a high probability that it will step back to the vicinity of the rising trend line.
The fast and slow line of the macd indicator is above the zero axis with a golden cross, indicating a bullish trend. The RSI indicator has also recently shuttled up and down the neutral 50, and is currently above 50, a bullish range.
Summary: If the 4-hour k-line breaks through and closes above 0.42, there is a high probability of seeing the resistance near 0.45. If it cannot break through, it will look down and step back near the trend line. When it reaches the trend line, a low, long, and short line can be made.
Comments
GlassICE
Piece a shit coin, why did i buy this crap at 53 cents ?
SwallowPremium
that's a well done analysis, keep it up
LochubT
@SwallowPremium, Thanks for the support, your comments are what keeps me going.
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