BINANCE:ALGOUSD   Algorand / US Dollar (calculated by TradingView)
Monthly
Looking at our highest timeframe we see ALGO has been descending since it's all-time high at $3.77, our all-time low showed at $0.17. If we are looking at simply from a risk to reward perspective the odds are in our favor.

Weekly
Looking at our pattern timeframe we see the price has found support at $0.20 and has since been in a minor uptrend. Stochastic RSI showing momentum is in favor of the bulls with no signs fo slowing down. The next major resistance isn't shown until $0.90.

Daily
Shifting over to our trigger timeframe we can see ALGO making a break towards $0.50, stochastic rsi showing momentum has found support and will continue towards the upside. A daily close above $0.4846 indicates ALGO will continue towards the upside, our next target would be the $0.85-$0.90 zones.

4hour (Bonus)
Looking at our smaller timeframe we see the price broke out of an ascending pennant , and momentum is heavily in favor of the bulls. A retest of $0.47 is possible with a decrease in momentum, otherwise expecting the momentum to carry ALGO through $0.50.

Related Ideas

Comments