ALGOUSD - Update on potential Capitulation Opportunities

Algorand / United States DollarCoinbase

Description

⋅ Jul 15, 2021 6:17 PM

I'd previously seen 40 cents as a big opportunity for ALGOUSD, and I still do see it that way.

I've been able to find some sort of confluence at all levels of interesting support in my view for algo. 40 cents, 26 cents, and 17 cents.

Details in the chart. Gotta' run for now.

Thanks!

Support and Resistance Fibonacci

Comments

etw01

⋅ Jul 15, 2021 8:19 PM

Nice chart. I can see a quick drop to .33, possibly .26 then fluctuation in the .40-.50 range before next bull run.

Dawnchorus

⋅ Jul 16, 2021 3:22 AM

@etw01, haha, yeah my chart is a tad jumbled, but I promise that those fibs were made with care. The 26-33 cent area is much more likely IMO, too - more confluence there, and it marks about an 86% drop for Algo.

thecuriouscatapult

⋅ Jul 24, 2021 9:39 PM

I don't understand why people speculate like this in one of the most volatile times in the history of blockchain that defy even the typical bull/bare market periods.

Dawnchorus

⋅ Jul 24, 2021 11:33 PM

@thecuriouscatapult, Yeah, I'd agree, you don't understand.