Crypto of the Day: ALGO/USDT - Long-Term Prospect
Good morning to everybody in Asia and good evening to the rest of the world.
My crypto of the day is ALGO/USDT, one that has been downtrending for a very looooooong time. Based on my TA. I believe this is going to change.
Long-term analysis (as long as it can get for ALGO :) ) indicates this is heading in the same direction as BTC did when it first turned up earlier this year - EMAs, MACD, RSI (just a tiny portion of my analysis but ones that most are familiar with). All movements looking and staying the same, i.e. if it continues to move positively upwards over the next few weeks, this is going to be an excellent long-term prospect with significant gains.
Short-term traders, I expect an uptrend change coming soon lasting at least 6-12 hrs once it initiates.
Happy trading!
_________________
Follow me on Telegram for updates (premium channel for on-point trade signals).
t.me/purple_crypto
My crypto of the day is ALGO/USDT, one that has been downtrending for a very looooooong time. Based on my TA. I believe this is going to change.
Long-term analysis (as long as it can get for ALGO :) ) indicates this is heading in the same direction as BTC did when it first turned up earlier this year - EMAs, MACD, RSI (just a tiny portion of my analysis but ones that most are familiar with). All movements looking and staying the same, i.e. if it continues to move positively upwards over the next few weeks, this is going to be an excellent long-term prospect with significant gains.
Short-term traders, I expect an uptrend change coming soon lasting at least 6-12 hrs once it initiates.
Happy trading!
_________________
Follow me on Telegram for updates (premium channel for on-point trade signals).
t.me/purple_crypto
Comment:
It has begun.
Comment:
Sadly, after a slight initial move upwards, ALGO isn't quite playing to the game yet and has somewhat stalled its progress.
As my initial analysis was based on anticipation of it moving upwards within a certain timeframe which hasn't occurred, I am holding on this trade until it proves itself worthy of an entrance.
As my initial analysis was based on anticipation of it moving upwards within a certain timeframe which hasn't occurred, I am holding on this trade until it proves itself worthy of an entrance.
Comment:
ALGO has broken the stoch RSI resistance today. Read my new analysis:
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