Broke the resistance, ready to PUMP.
Algo have been in this triangle pattern for more than a month.
Since btc reached its all time high, it shows how bullish market is.
So we expect algo to pump.
Algorand is poised for gains. The yellow rays are my DCA points thus far. I am using this simple chart to track its trajectory.
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$ALGO has been consolidating for weeks now, since the mid-september move after hitting 2.50.
The 1.55 area has shown strong support after being tested multiple times in late September. Each time on less and less volume, indicating that selling pressure is waning.
Price is currently bouncing off its 50EMA and the bollinger bands are tightening. I still think we...
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(ALGOUSD 1W Chart) - Medium to Long-Term Perspective
Above 0.76754798 point: uptrend expected to continue
(1D chart)
First resistance section:...
Algo is looking pretty good. I think we have one more drop to the 1.60-1.65 area before we head up towards 2.20. This is just a potential play that I am currently keeping my eye on.
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View on Crypto ALGOUSDT (17 Oct 2021)
There are buzz around network coins and ALGO shall be the one that follow Solana footstep.
$1.5 region is a strong support session and $2 will be a strong resistant.
Once $2 is broken up $2.4~$2.5 will be a strong resistant.
Let's see.
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If algo breaks out of the triangle to the downside we could see a strong bounce off support. 1.65 is a pretty good entry and target would be 2.15. All dependent on Btc.
ALGO bouncing off the 50 day, making a higher low and pushing right up against the downtrend. Looks ready to make a breakout attempt.
8 month base here, similar to ATOM. Longer the base, higher in space
One more concurent of Polkadot, Solana and Luna.
What Is Algorand (ALGO)?
Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are secure, scalable and efficient, all critical properties for effective applications in the real world. Algorand will support computations that require reliable...
Between the two scenarios, A & B, I think scenario A is more likely so I'm looking for a breakout above this downtrend line.
Scenario A looks likely because of an MACD cross, strong bounce off the lower bound of the channel, showing strength. Looks like it is about to test RSI at 50.
With ETH fees going through the roof and ALGO being put to the test with more...
test
Algorand is an inclusive and transparent system in which anyone can build prosperity through decentralized applications and projects, no matter where they are. The platform gives developers, enterprises, universities, and investors opportunities to participate in trusted, credible blockchain development.
Algorand uses a Proof-of-Stake (PoS) consensus...
I am practicing identifying cypher patterns and noticed the beginning of a bullish pattern on the daily chart. It will be exciting to see if it plays out.
Additional validation will occur at "C" between 1.272 and below 1.414 and buy in level at "D" completion point above .786.
