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
ALGO has made a harmonic pattern and looks like it is finished. Just have to wait for the price to break the downtrend line.
📉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...
EURONEXT:ALGO Update: 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...
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...
No need to comment further. Mcdonald's time-tested pattern FTW! This is NOT FINANCIAL ADVICE
Why everyone is distracted with the Bitcoin ETF, that's been a complete disappointment so far, and XRP, which has been a perpetual disappointment for quite some time now, ALGO is setting up for a move that's going to leave cheap prices in the rear view mirror! ALGO'S structure has the potential to make incredible gains, in a short amount of time. Here's a couple...
Algorand has been on a steady decline since the top of the last bullmarket and now looks like it wants to reverse. $0.50 cents short term target. NFA
ALGO (Algorand) has been forming a rather impressive cup & handle formation on the daily chart since mid April 2023. The handle looks to be nearly complete, and could breakout any day now. Anyone who knows Algorand is well aware of how quickly it can move when the volume is there. Either way, I'm a long-term investor who's already well into the green, and will...
Trade setup : Bullish breakout from a Channel Down pattern, which was confirmed by a break above $0.17 key level as well. Price could swing up +20% to $0.20 near term. Stop Loss at $0.16 (just below the breakout level). Patterns : Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher....
Another classic setup on ALGO. Break - Retest - Go. We have see a break of the major trendline, a successful retest, and we can now expect a pump till the resistance zone i marked in the previous update. Let's see
1D time frame - ALGO is retesting the structural support around 0.135~0.152, that is also the 0.618 Fibonacci Retracement, so here is a good timing to set up a perpetual trading plan with great RR. Also, we can easily see a strong support on higher time frame around 0.08~0.10, this zone is a sweet price to accumulate spot if ALGO come back again in future....
Algorand is approaching an important trendline, and considering the actual strength of the market, there good chances it will go broken. I placed stoploss below recent accumulation zone, and my first target 0.18, the first resistance zone on daily timeframe. If we can manage to break up this level, 0.20 could be next