Algorand (ALGO) technical analysis:
Trade setup : After getting rejected at $0.15 resistance a few times in November, price has finally broken above it to signal continuation of uptrend with upside potential to $0.18 near-term. Previously, price broke above above 200-day moving average, which confirmed a bullish trend reversal to an Uptrend.
Trend : Uptrend...
🚀 ALGO/USDT Potential Breakout Signal:
After a careful analysis of ALGO/USDT price action, it appears that a significant move is on the horizon. ALGO has recently broken out of a Falling Wedge pattern, and all signs point to an imminent bullish surge. The key price levels to watch closely are 0.102 and 0.108.
🎯 Mid-term Price Targets:
Target 1: 0.116
2 Consecutive Bullish Months in a row suggest buyers stepping in from the Lows created during Covid Crash at .0976. This crypto offers great Risk/reward back to All time highs at 3$. Catching 1/10 of that move would be great RR
Algorand (ALGO) technical analysis:
Trade setup : Price broke above above 200-day moving average, which confirmed a bullish trend reversal to an Uptrend. So far it has been rejected at $0.15 resistance. We wait for price to either
1) break above $0.15 to signal continuation of uptrend with upside potential to $0.18 near-term, or
2) pull back near $0.12...
I can see a big opportunity on Algorand. We are in a strong uptrend, there's a good bullish ascending triangle with a 18% move. If we set this 18% move as target, we can see it at 0.17. It's a good 30% from actual price, on spot... Imagine on features
We see a tight trading range, signifying indecision between buyers and sellers. If we see a solid break above the upper yellow line, there could be potential for an upward push, possibly initiating a new bullish phase for ALGO coin. However, the odds seem slim, and we may more likely witness a bounce between the resistance and support zones.
We're on the lookout...
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The key is whether the price can be maintained above 0.1093 and rise above 0.1718.
In order to escape from the bottom section, the price must rise above 0.1718 and...
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.
I was wrong on my prevoius idea, it wass maybe too early for ALGO to fly. But the hot zone i marked as resistance and support has worked nicely. We are back to resistance and i think Algorand has enough strength to flip it to support and fly high in the mid term. 0.2 is my target before end of the year
Updating my long position on ALGORAND. So far so good, that's what i want to see to continue the good uptrend. In daily TF we are in strong bull trend. Big support (big rectangle) and small resistance to breake.
EURONEXT:ALGO Is an asset I have a lot of history with, Currently, it is trading well below what it realistically should be, considering the overall state of the crypto market right now.
In this Chart I have not only added updated support / Resistance and target zones, I have left the previous Levels up that I charted in 2021
The more relevant data to current...
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