I've made the decision to buy some ALGO (ALGORAND) with a target of 0.16, 0.17, 0,18 and a stop at 0.144.
The information provided here is for informational purposes only and should not be considered as financial or investment advice.
Seems Like Algo Is Ready For bullish Impulse Falling Wedge Breakout Has Already Confirmed Retesting In Process Incase Of Successful retest expecting 25v to 30% b ullish Wave
This one is approaching towards the its lows. There is a monthly and weekly level almost close to the current price. It may breach that for a while but I expect it to hold that level on weekly time frame and bounce from there. If it does bounce, I see it aiming towards daily and then probably weekly resistance.
The price has finally hit the weekly support which...
💎#ALGOUSDT shows promising signs of a bullish reversal! The formation of a double bottom, coupled with a successful break above the descending channel and supply/demand zone, suggests a potential price increase towards the 88.6% Fibonacci retracement level and the 200 Simple Moving Average. Currently, price is supported by the 61.8% Fibonacci level. If the...
💎After breaking below the ascending channel, the downtrend in #ALGO has been consistently strong. But today, on the 4H chart, we are witnessing a Hummer Candlestick Pattern, a potential sign of a reversal.
💎 Additionally, there's a clean bounce off the 461.8% Fibonacci support, which could indicate a potential bullish reversal. We need to confirm this on the...
Hi, Friends hope you are well and welcome to the new update on ALGO.
Big wedge and a long-term support:
Algo has formed a big falling wedge on a weekly time frame, however, at the moment ALGO has dropped at a very long-term support of $0.16 and this level is working as a support since Sep 2019.
Oversold on weekly time frame:
Weekly Stochastic is also...
Right now ALGO is testing the most common Fibonacci retracement level, 61.8%. We want to take buying opportunity at this time as any kind of a pullback would be healthy for this bearish trend.
Moment of truth for Algorand. Will it close above its recently re-gained trend line this week and this month? Above .30 with some sideways action would be ideal. Because if it does, it will have quite the bull run. If not, it may need to re-visit 14c and that would delay the structure. But so far so good!
Cheers!
That's the make or break for Algorand. Yesterday drop ended up with a bull trap and a chance for trend reversal. There are three rules in place now.
- We want to stay above the yellow line ( the previous low on a weekly chart )
- Closing below yesterday low invalidates the setup
- Closing below 0.1560 will propably mean that Algo will drop to 0.1150
Algo has also entered my target down area and with the daily RSI into oversold territory, I believe this is an appropriate area to enter. Yes, Bitcoin could still come down to that 25,200 neckline area or lower, dragging ALTS down even further, but I have set my entry targets for these recent alts trades and will stick to the trading strategy at this point,...
Also a chance to retest the zone around 0.23 +-, we will see how BTC will be etc... we are close to the summer lows and in a very volatile place so be careful and always SL
