People are jumping with joy today as FLARE has made a more than 300% in gains as of late, but when you see what ALGO is about to do, you won't give a second look at FLARE again. Not to put down FLR, I hold a bag myself, but only to use it as a comparison.
Just taking a gander at this chart, even the most rudimentary of assessments come to realize really quickly...
ALGO is currently holding a significant support level following a recent correction, showcasing potential for another upward move. Considering the favorable conditions, exploring a long position in this zone seems promising for a ride towards the next two red zone targets. As always, prioritize effective money management practices and incorporate a strategically...
💎 ALGO has been drawing considerable attention in the market lately. Currently, ALGO is on a downward trajectory, heading towards the demand area at 0.1550 for a retesting phase. This move follows a significant breakout and subsequent rejection at the Bearish OB area.
💎 If the retest proves to be valid, ALGO needs to bounce back from this demand level to resume...
1D time frame
We are currently gaining almos 60% profit from ALGO since last entry on Jan 27, as below.
Furthermore, ALGO is breaking above the neckline of this potential head and shoulders structure, which means here is an opportunity to add positions or set up a new trading plan.
TP: 0.4 / 0.45
On ALGO, we have a diamond diametric, and it seems that we are now in the E wave of this diametric.
On the green box, it is expected that the F wave will end and we will enter the bullish F wave.
The targets are clear on the chart
Closing a daily candle below the invalidation level will violate the analysis.
For risk management, please don't forget stop loss...
We can see as is common with most cryptos, the Algo went back below the purple trendline after its 1st initial breach above the purple channel. Now that we have broken above again and retested that line as support probability increases significantly for it to validate the breakout this time around. So I have posted an updated chart with the measured move line...
Trade setup : Price is in an Uptrend. Following a bullish breakout from a Channel Down pattern, price has also broken above $0.20 resistance to signal continuation of uptrend, with + 20% upside potential to $0.24. Stop Loss (SL) at $0.18, just below prior swing low.
Trend : Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish...
Scenario casting #Avalanche versus #Ethereum
as we go forward into 2024
The blast off from the lows has to be respected and is a significant show of strength
and shames other blockchains price performance these past few weeks
I'm looking at you #Algorand & #HBAR
📉Hi Traders, Investors and Speculators of Charts📈
If you've been following, you'll know I'm fundamentally bullish on Algorand. And it gets better than fundamentals - we are currently witnessing a similar fractal that played out on ALGO during early days - the Elliot Wave Fractal.
From the macro perspective, we can see that Algorand has a long way to go before...
A favorable opportunity arises after confirming a breakout from the marked blue zone. It's advisable to use a stop loss for risk management. Always use stop loss. Everything is on the chart.
Logarithm. Time frame 1 week. Main trend.
Linear for clarity. .
Previous closed learning/work idea on this asset. Published 09 2022
ALGO/USD Major trend. Accumulation/distribution
Local trend and this reversal zone is shown in the main trend now.
Price recovery from the recent squeeze. Consolidation and formation of triangle formation. High...
Logarithm. Time frame 3 days. Linear price graph for clarity of this beauty.
The entire secondary trend is a falling wedge , a decline in price from the highs to date for 718 days (24 months, or almost 2 years). Volatility has decreased to a minimum, the price is conditionally squeezed, in the near future there may be an excess of supply/demand and a...
Logarithm. Time frame 1 day
Main trend. Accumulation/distribution zones. Time frame 1 week.
ALGO/USDT Main trend. Cycles. 07 2023
Secondary trend. All price drops from 2-year highs.
ALGO/USDT Secondary trend. Wedge - trend.
This local wedge breakout zone on the line chart.
💎 Paradisers, gear up as #ALGOUSDT is currently displaying a promising setup, situated within a support zone, poised for a bullish climb.
💎 #Algorand is paying homage to the support level at $0.1837. There's a strong chance it might revisit the support at $0.1837. If the price can maintain its momentum at this level, we're looking at a bullish progression to...
Hi Traders, Investors and Speculators of Charts📈📉
Welcome to 2024🥂🥳
And with the new year, we've been focusing on altcoins that have great fundamentals AND great upside potential.
Algorand is a decentralized network built to solve the Blockchain Trilemma of achieving speed, security, and decentralization simultaneously. Launched in June 2019 by computer...
ALGO has been forming a nice cup & handle formation for quite some time now, as I've mentioned in my previous posts in the previous weeks. The handle is nearly complete, and I have a feeling that when the price breaks out above the rim-line... it's going to be EXPLOSIVE!
Good luck, and always use a stop!
Trade setup : Bullish breakout from a Channel Down pattern was confirmed by a break above $0.17 key level. Price could swing up +20% to $0.20 near term. Stop Loss at $0.15 (just below the next support).
Patterns : Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Most traders...