Algorand (ALGO) - September 29

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(ALGOUSDT 1W Chart)
The key is whether you can support and move up in the 0.3310-0.4253 zone.


(1D chart)
0.4253 : volume profile point

0.3310: boundary point of the floor section

0.3091 : volume profile point


Therefore, it is important to be able to support and move up in the 0.3091-0.4253 zone.

As it has moved out of the mid- to long-term downtrend channel, if it finds support in the above area, I would expect a sharp move.

However, if it fails to find support and falls below 0.3091, I would expect it to fall below 0.2140.


However, as I mentioned in the description of the BTC chart, I think it is time for altcoins to gain support by increasing the BTC price by at least 20.7K.

Therefore, before that, it is recommended to trade conservatively when trading altcoins.

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** All descriptions are for reference only and do not guarantee a profit or loss in investment.

** If you share this chart, you can use the indicators normally.

** The MRHAB-T indicator contains indicators that indicate support and resistance points.

** SR_R_C indicators are displayed as StochRSI(line), RSI(columns), CCI(bgcolor).
** CCI indicator is expressed as overbought range (CCI > +100) and oversold range (CCI < -100).

(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.)

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