Algorand is testing $2.00-$2.16 with a temporary ceiling at $2.22.
The ceiling could have been caused by multiple or several large sell orders placed at this price marker.
Floor at $1.86 with support at $2.00.
Additional Notes: Algorand's Community Governance goes into effect on October 1st, 2021.
I believe this will break up and form a mutant cup and handle in both the chart and volume. My dip buy target was 1.60 cents but it did not reach my desired level, still looking for a test of that level, but the bullish bounce means most likely we see uptrend continue this weekend. Good luck. Not financial advice. All lines are hand/eye drawn and not taken from...
My Minimalist Analysis of $ALGO
1. TARGET ENTRIES for $ALGO Correction taking place. The Chart will be adjusted after correction.
2. We will ENTER during ACCUMULATION.
Indicated are key support and resistance levels using small and large trading range boxes for ENTERING A SWING TRADE (Short - Long.)
Watch out for Patterns, Divergence, EMA,...
Algorand has seen a recent uptrend, and is testing $2.00-$2.15 (the handle of the small cup-and-handle pattern). The next major ceiling for Algo is $2.22. If Algorand is able to break out of the $2.43 price barrier, I would expect an immediate rise to $2.50-$2.60...with possible resistance at $2.65-$2.75.
Algorand is currently testing the bottom of the handle? Could we see a move up to $2.75-$3.00 next? The Salt Conference in N.Y has ended, and this could very-well bring heavy volume into the crypto space, with Algo being a key-backbone to the ever-developing ecosystem.
Here is just my little observation considering ALGO.
The maint point, that this recent high volume has been confirmation of break phase of accumulation out.
If so, than I think history can repeat itself, and next target will be around 2.618.
For now I am looking closely, if price can hold 4-hour support :
ALGO has nice...
Pattern: Channel Up on 1D.
Signal: Buy on the next pull-back after the 1D Golden Cross gets formed. That has been the last buy signal in the two previous bullish legs to a Higher High.
Target: 3.7500 (the All Time High).
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **...
Algorand, or what I called " the sleeping giant " is finally awakened.
As per my previous analysis (attached below), we have been waiting for a confirmation to buy ALGO around the support 0.700
ALGO activated the buy and traded higher aggressively . This movement reminded me of FTM and how its parabolic movement started.
ALGO broke above the 1.8...
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...
The Salt Conference in N.Y is setting up the Crypto Space for heavy volume and adoption. Algorand is holding steady at $2.00, and could see an uptrend within the next 48-72 hours.
Chart Patterns: Algo is forming a nice cup and handle pattern, and could see a drop to $2.00 (which would be the new "floor.) Price target is around $2.75-$3.00 per Algo.
Hello my beautiful traders.
I think ALGO might be very close to exploding beyond its range.
I will take a long position once it has broken above the range evidenced in red and retested it. The desired area is the one in green.
If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair.
Have you already shorted ALGOUSD today ? If not, take a nice cup of coffee, get up (or the other way around), wipe your eyes and set a short on it.
Time has come. That's why. We're at the end of a massive pump . ALGOUSD RSI (1d) has been as high as today only 4 times in its lifetime, and 3 out of 4 were excellent shorting opportunities , and the 4rd with...