I have drawn up some Fib circle describing a bullish move to a spot that has been a previous trend rejection point (red ovals)
Price comparison points can be drawn between the green ovals
Major trendline in bold white line
The Cup and Handle pattern is an addition that supports the bull idea
The last time we analyzed the Algousdt pair was back in February, but if you look at its performance and read the description...
you'll see quite a precise realization of the idea.
Today let's refresh our thoughts a little, after all, it's been half a...
21Shares Announces Listing of Polygon, Avalanche and Algorand crypto ETP on SIX Swiss Exchange
Algorand price soared over 50% to new two-year high
Algorand (ALGO) — the native cryptocurrency of the Algorand blockchain — soared 50% from just under US$1.70 noon Asia time today to a new two-year high of US$2.66, according to CoinGecko data. But the surge was...
Look at this cup and handle pattern forming since June 2019. This is perfect TA pattern which give us potential move upside to 5.50
(1.618 Fib) Also we just trade exactly on 0.5 level FIB in monthly timeframe . In local timeframe we have a higher low and lower hight so we are forming triangle with...
ALGO seem to be breaking out of his triangle but i would stay cautious as long as we don't have a daily above 2.05$.
If it does close above then the plan would be to buy any retest of 1.95$ and target 2.5$ as 1st TP which would be what i would play since MACD daily is turning bullish.
If it close under then we would need to rethink the upper trendline of the...
VERY solid fundamentals on this one, long term price has been flowing in impulse moves upwards with consolidation flags in between. Price is currently in a squeezed flag and is testing our breakout area
- need to see a 8h - 1 day break out of flag and resistance area
- will want to have a Bollinger band beak
- first take profit @ 1.618 fib extension level
there is 2 possible scenarios : Success break out the triangle and pump to target levels or breaks down the support at 1.7
and retest 1.6 and 1.25
My idea is uptrend scenario and waiting for good entry point after success break out
4 hr chart
Matic is poised for continuation after breaking symmetrical triangle on the 4hr chart.
- Mac D indicates buying pressure is increasing.
- The Rsi has broke the downtrend, currently in a bullish reversal.
TP 1- $2.09
TP 2- $2.25
TP 3- $2.40
stop loss- $1.60
Algorand is still trading sideways after forming a Large Bull Flag Pattern (blue triangle) after seeing an increase of 187%.
ALGO is now stuck in the green rectangle ( resistance zone ).
Breakout expected to the upside, with a price target of $2.49-2.60 per Algo.
The relative strength index was also trending down (during the formation of the Bull Flag )...
Algorand is stuck in a sideways trading pattern (orange rectangle) after forming a large bull flag pattern (blue triangle), which formed after a rise of 187%.
Support at $1.70, which is also the retracement line 78% (if fib. was started from $1.56).
expected touch on the bottom of the orange rectangle, with price breaking out of the sideways trading unknown....
I don't know if ALGO will hold within this corridor or not, but I do know that ALGO is just getting started and is showing a ton of support signs. Currently, ALGO looks like it's forming a bullish pennant on the daily charts.
After weeks of consolidation and a confirmation of
a breakout on the top trend line in a symmetrical
triangle... Along with upwards momentum shown
below on the MACD I believe the next week will be
very bullish for $ALGO. Even a retest of 2.50$ ATH
price level is within reason.
Additionally "Governance" on Algorand's blockchain
currently has 1.88 billion $ALGO...
Algorand is showing several Bullish signals, with an impending uptrend to $2.00 and beyond.
The R.S.I is showing divergence !
Charts patterns: falling wedge (blue triangle) with a rounding bottom (red arched line). Rounding top (yellow arched line)
resistance at $1.88-$1.93.
*Price followed the copied Bars pattern (purple bars) from previous prediction...
SNIPER STRATEGY (new version)
It works ALMOST ON ANY CHART.
It produces Weak, Medium and Strong signals based on consisting elements.
NOT ALL TARGETS CAN BE ACHIEVED, let's make that clear.
TARGETS OR ENTRY PRICES ARE STRONG SUPPORT AND RESISTANCE LEVELS SO THEY CAN ACT LIKE PIVOT POINTS AND REVERSE THE WAVE (or act like a mirror that can reflects light) BASED ON...