The Algorand coin appears to be in the bullish territory after breaching the falling wedge pattern.
The Supertrend indicator generated the bullish indication last night in terms of the daily price chart.
The Algorand coin is noticing above the 20 and 50-day moving averages in the context of a daily price chart. And remaining 100 and 200-EMAs may distract the bullish momentum.
The relative strength index (RSI) remains above the halfway line (50-point) after a long consolidation below it. At the time of writing, the RSI is represented at the 64-level, providing a clear directional trend.
The Average Directional Index (ADX) is gradually decreasing but still suggests a bullish momentum for the Algorand coin.
Now the Algorand coin is moving towards the psychological level of $1.0, where the battle between buyer and sellers may occur for the directional trend. Unless the bears may continue to dominate the coin.
Support level- $0.680 and $0.370
Resistance level- $1.0and $1.30
The Supertrend indicator generated the bullish indication last night in terms of the daily price chart.
The Algorand coin is noticing above the 20 and 50-day moving averages in the context of a daily price chart. And remaining 100 and 200-EMAs may distract the bullish momentum.
The relative strength index (RSI) remains above the halfway line (50-point) after a long consolidation below it. At the time of writing, the RSI is represented at the 64-level, providing a clear directional trend.
The Average Directional Index (ADX) is gradually decreasing but still suggests a bullish momentum for the Algorand coin.
Now the Algorand coin is moving towards the psychological level of $1.0, where the battle between buyer and sellers may occur for the directional trend. Unless the bears may continue to dominate the coin.
Support level- $0.680 and $0.370
Resistance level- $1.0and $1.30
