ALGO/USDT Secondary trend

BINANCE:ALGOUSDT   Algorand / TetherUS
Secondary trend. It formed a cup, the price at its resistance.

Cryptocurrency of 2 groups. XRP group. Al/gor/and.
Coinmarketcap: Algorand.

ALGO/USDT Main trend
Comment: This is what it looks like on the 1-day timeframe. By the way, this action also knocked down all the shorts' stops
Comment: from the level of 1.6 redemption by +44%, which provoked a panic buy and knocking out of the shorts' stops. Timeframe 1 minute
Comment: Short Squeeze. Breakout of the support zone 1.6 lowering the price to the dynamic support of the internal upward channel and reversal from it. At the moment the price is at the secondary trend resistance zone and the mirror resistance level 1.6 (former support). An important zone, on which further development of the secondary trend depends. Work in the channel.

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