ALGOUSD
Forming a nice bullish cup and handle pattern and price is trading in the ascending channel.
Reasons to be bullish
1) MACD is green
2) RSI above 50
3) Forming bullish chart pattern (Cup and handle pattern)
4) Price found support at 0.382 after rejected at USD 1.47
5) Creating higher low from past few days, found support at previous resistance.
6) Price is above all MA.
First level of resistance will be USD 1.47, if USD 1.47 is broken, the bullish target will be at around 1.382 fib area around USD 2.11 which is the same target of cup and handle breakout target.
Forming a nice bullish cup and handle pattern and price is trading in the ascending channel.
Reasons to be bullish
1) MACD is green
2) RSI above 50
3) Forming bullish chart pattern (Cup and handle pattern)
4) Price found support at 0.382 after rejected at USD 1.47
5) Creating higher low from past few days, found support at previous resistance.
6) Price is above all MA.
First level of resistance will be USD 1.47, if USD 1.47 is broken, the bullish target will be at around 1.382 fib area around USD 2.11 which is the same target of cup and handle breakout target.
Comment:
Price is going up as per analysis, finding support at previous resistance of USD 1.48, expecting more upward direction to the expected price of USD 2.11