The moving average indicator is a widely used indicator that can sometimes predict future price movement of an asset. Often, when any asset price bounces off the Moving Average or ‘MA’, this means that we are in for a good increase in price.
For two days in a row, ALGOUSD price has experienced a bounce off the 100 period MA, could this be a final call before...
Algorand is a decentralized network built to solve the blockchain trilemma of achieving speed, security, and decentralization simultaneously. Launched in June 2019 by computer scientist and MIT professor Silvio Micali, Algorand is a permissionless and open-source blockchain network upon which anyone can build. Algorand is designed to be a payments-focused network...
There needs to be a solid closed candle above the resistance zone and then a retest to confirm a potential spike to the higher levels around $2.00 - $2.50
The trend is overall bullish and the 1-Day MACD helps to confirm this idea.
There is a lot of momentum building in the crypto space and this could be the beginning of the next big leg up. ALGO just needs to...
ALGOUSD has just bounced off a KEY support level at the Dynamic SR level of the drawn pitchfork. This correction gives a huge sentiment of a bullish market in crypto tomorrow. This will probably be the last pump of the cycle before the market crashes again. Time your exits well and stay alert.
ALGO is currently stuck inside this green range. NOW WHAT?
Here are the two scenarios where I will be looking for high probability buy setups:
I call them War Zones.
Scenario 1 - Purple : (Lower Zone Retest - 0.900)
I will be waiting for ALGO to retest the lower bound of the range (projection in red) to look for buy setups on lower timeframes.
A relatively clean cup and handle has formed as ALGO tries to push through its previous ATH resistance zone.
Additionally, it appears that ALGO is trending in an ascending triangle converging to a potential breakout to the upside.
With BTC pushing up above 59k recently, this could help push ALGO over the top, resulting in a price jump similar to what happened...
People are irrational! Super, duper irrational!
Like, ok, I'm pretty sure our Algorand coins are going to be worth quite a bit of $ in the future, right? I mean like at least double at some point, almost guaranteed. Right now it looks like "the market agrees," but there will be specific time intervals where that
definitely isn't the case.
The end is nigh!...
The price stretched somehow fast but still not at the point which ALGO will increase. We are expecting a consolidation period before it can make another move. If price holds within the range in the next 1-2 days, there will probably be another run to the highs. The consolidation will provide opportunity to those who want to go long on ALGO.