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ALGO is trying to break the orange support/resistance again.
on H4: ALGO is forming a symmetrical triangle in blue but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
ALGO had a strong breakout in early September and has been since in consolidation above the 1.5$ area.
Prices are in compression days after days and could well go for another impulsive move up.
I would wait for the MACD to go green and the upper BB to open before catching up a move as a fake signal could be given.
This on is to be follow, we could anticipate...
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 $ALGO...
Algorand ($ALGO) New FIB: If $ALGO can close and confirm in the FIB above, $ALGO will start its BULL-run @ $1.97 Currently $ALGO trading sideways, BB squeezing tight, RSI in the Goldilocks zone and MACD BULL-ish cross over. $ALGO looks primed to 🚀🚀🚀
Algorand is poised for gains. The yellow rays are my DCA points thus far. I am using this simple chart to track its trajectory.
*Professional Wyckoffian VSA crypto swing trader. I regularly seek out the most lucrative swings on all major crypto exchanges.
All my charts are clean, straightforward, and easy to follow. No junk, no needless indicators, just solid...
$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...
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.
Thanks for viewing my post!
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.
DYODD, all the best and read the disclaimer too.
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(ALGOUSD 1W Chart) - Medium to Long-Term Perspective
Above 0.76754798 point: uptrend expected to continue
First resistance section:...
ALGO Trade had a hammer bouncing at a strong support forming a morning star reversal, bouncing off the 50 ema, with momo triggered at the begging of a new moon, Bitcoin seemed to had sold off into Etherium which was selling off into the alt coins. The hammer had already closed so I did a market buy because all ready 100% knew I wanted to be in the trade. Didnt hit...