Algorand (ALGOUSD) is having a huge pump today as it smashed above the 1D MA50 (blue trend-line) for the first time since April 01. This rally has been generated after holding and bouncing on the 1W MA50 (red trend-line) for the 2nd time since January 23.
This gives shape to a Channel Up, not so different from the one that led the token to its peak during the...
Losing Dollar Value is one thing.
But losing 94% in 2 years vs #Ethereum is a second type of pain
That highlights the risk that abounds in #Crypto and the #altcoins
Can #Algo start making positive progress now?
Algorand EURONEXT:ALGO #Algo
Is currently caught between the support at $0.15 range and the now resistance above at the $0.18 range.
If we get a follow up pullback with the rest of the market on further war i.e. middle east drama, then I would watch for the next support range to come in at the $0.12 range.
I've purposely given you the same chart and layout...
When I was 17, 2 years ago completely new to crypto this is the coin that doubled my money. Today the coin has crashed by 23% so I have bought it and will be holding it!!!
The Cup & Handle pattern in ALGO has broken out, and perfectly retested the rim-line. We could see some incredible price gains in the coming months.
Good luck, and always use a stop-loss!
ALGOUSDT is retesting its breakout level. It is currently standing at a very good support level. It has immense potential for upside for atleast 50% in near term. Manage your risk accordingly.
ALGO has been doing very well the past month or so, and is looking to do even better here shortly. The current wave 5 is generally the most explosive, and largest gaining. Although, the price action looks like it could potentially drop closer to the lower trend line (white line). This line has held very well so far since this uptrend started, and the wave pattern...
I have identified the first ever camel pattern in the chart, I am dubbing the term Cash Camel Pattern. For all of my Russian speakers,bogatyy verblyud (they wont let me put cyrillic on the english version). I have no price targets, nor do I have any way to trade this technically. After the price action plays out I will update and give my interpretation of this...
Wait for the finishing of wave 5 . Then we could see a abc correction to the 0.5 fib. Then we could be at the and of the handle of the cup. Then a beautifull way to the upside. A bigger c&h formed ling time ago with a take profit to the 0.45 so i think we will head there.
Looking at the weekly chart for Algorand, it's worth paying attention to a developing huge head & shoulders pattern, which usually indicates the market bottom, creating a fresh higher high.
Since Algorand peaked back in November 2021, it entered a mean downtrend which lasted for approximately 700 days.
We can also see that the market developed a bit of diagonal...
ALGO is set up for what I think is going to be an EXPLOSIVE move to the upside. After the cup & handle breakout I predicted came to pass, and a nice retest of the rim-line, which just occurred, I think we are about to experience an EXPLOSIVE Wave 5 to the upside.
Buckle up!
Good luck, and always use a stop-loss!
... why would bury trash and give it a tombstone? There is nothing worthy to put on the tombstone of trash shitcoin that died!
Algorand is an extremely weak coin.
It was over $2 in 2021 and is barely above $0.20 right now, while most other CHAD ALPHA COINS, such as Solana and Cardano, have multiple X'd from their bear market lows.
Algorand has no development...
