EuroMotif

ALGO.USD coming in for a Landing? AlgoRand at 1 of 2 Supports

COINBASE:ALGOUSD   ALGO/USD
Quick plot to observe price action around expected supports
We have just hit a support zone , which should at least slow it down.
Am expecting one notch lower, but it could bounce here and now.

In my last plot below, the retrace played out roughly as expected.
The bounce took off from a zone defined by these same fibs.
But the bounce was almost vertical, so it may retrace deep.

0.2537 - 2555 is immediate support, unlikely to hold for long.
0.2424 - 2456 is likely to be hit, and possible long entry for me.
0.2624 - 2640 will be first resistance above, worth watching.

Previous ALGO analysis:


Dec 01
Comment: Beautiful bounce exactly where expected Now navigating the previous support zones

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Dec 03
Comment: I have posted an UPDATED plot here
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Comments

Update por favor. :)
Reply
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