Algorand has fixed itself above the liquidity zone.
Trading volumes remain stable.
Price is above 50, 100 and 200MA on 30m timeframe.
The 100MA has broken up the 200MA on the 30m Timeframe.
I expect ALGO to continue rising after fixing above the resistance level.
Today, I’m going to share something that’s a bit of a secret among those in the know. I will shed some light on the first secret today, which is the volume.
The first topic for today is the volume. What you see is a chart that’s a combination of 10 minor cryptos weighted based on the volume to create a single chart for us to analyze. This is part of my basket...
Algo just increase its stake reward on coinbase the highest earner rewards. Massive buying volume have already started Algo stake reward payout daily and higher then most other coins atm. Coin have potential moving up in the next few days. Algo reach its low at .35cent and pulled back .10 which is very low. The RSI have shown double bottom inverse.
broadening wedge with an inverted head and shoulders with a neat descending volume profile showing lack of momentum and trapped traders on those pushes down within the shoulders and head.
The measured move from the height of this head puts us around 51 cents which also happens to intersect the 30 min ema 200 and the top of our broadening wedge which should give...
Scaling in to obtain best asset prices:
We are looking to acquire assets to hold long term as the markets are selling off and the SPX and ES breaking through the 4,000 level while the DXY may test new highs. We do this by scaling in slowly to obtain an attractive weighted average price in selected cryptos. For this to work, you need to be VERY TIGHT in your...
Finally hitting my price target. Great time to buy some discounted Algorand. Will be buying weekly to get my average price in the $.50 range.
If price can hold this area of support we could see ALGO setup for a fantastic bull run in 2023-2024. Good luck all!
We've bottomed out and formed an inverted head and shoulders. Showing lack of momentum to the downside and trapped shorts with a perfect volume profile as well. Target should take us to the $0.51 region to test our 200 ema as well.
The technical chart suggests that Algorand (ALGO) has the potential to tag the $1.00 milestone again. The downswings since February 8 can be confined within a descending channel, with the swings getting shorter in magnitude and the momentum drying out.
Algorand Descending Channel
After reaching the lower support trendline, the ALGO price bounced, and we're now...
Algorand (ALGOUSD) has completed a strong 3 day bullish streak coming close to the 1D MA50 (blue trend-line) again for the first time since the first week of April. Despite this green short-ter display, it is not a buy opportunity yet, as on the medium-term it remains within a Channel Down (dashed lines) and on the long-term it has broken below the Channel Up.
I am publishing this chart with the current idea that I may wait for a buy in until this retraces back into the .84 range.
My overall consensus is Bullish with a healthy pullback before the next target, .92+
So i was wrong about the fractal last time, but i am not giving up - are you?
I am still very bullish on algorand future and the fact that Algorand push back above 1$ is a good sign.
And based on my expectation we should be at $2 by end of JUNE.
I hope you are guys are with and chasing less memes and more real assets.
Real Tech, Real Team, Real...
ALGO is one of the rare cryptos still making a HHHL it is now making a rising wedge. 0.68 must hold or else it will risk going back down to retest previous bottom at 0.54.
Holding 0.68 may see next resistances at 0.80, 0.90 & the 1.00 to 1.03 zone.
See chart for possible movements.
Not trading advice