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Algorand

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ALGOUSD trade ideas

Algorand headed downBased on the previous bull cycle trend of BTC and the last local top trends of ALGO, my prediction is that between Dec 10th and 22nd, ALGO will bottom somewhere between $1 and 1.10 - putting it about 60% down from it's ATH (excluding it's single day peak when it was listed on a new exchange)... I have set a buy order at 1.061 (as a form of insurance in case it doesn't go quite as low as I expect). As of today, there is a massive buy wall at $1.50, but I'm not sure how strong that will hold up if a mass sell-off scenario were to occur. This is mostly a personal chart, but I'd like to share publically to get feedback from others.
COINBASE:ALGOUSD
by FOMORON
6
MY MINIMALIST CHART ANALYSIS FOR ALGORAND $ALGO ON TRACK WITH OUR TARGET AREA OF VALUES 11.18.21 1422H +8 SINGAPORE Disclaimer: The findings of the following analysis are the sole opinions of the publisher of this idea and should not be taken as a piece of investment advice. ALERT: VITAL SIGN A-OK, WE WILL FINISH THIS SWING. The Market has amazingly moved along the TOPS and BOTTOMS of our BOXES, signifying TURNING POINTS of PRICE ACTION. We are now looking at an ENTRY that we can TOP-UP for our Investment FIB 0.618. Congratulating all those who have climbed the SWING together with me. REMINDER: INDICATED ARE ENTRIES, PARTIAL EXITS/TOP-UPS, EXITS, and MAXIMIZED AREAS OF VALUE "FOLLOW THE WHITE RABBIT!" Just Follow the TOPS and BOTTOMS of the BOXES as a GUIDE where the MARKET will take you. HOW TO USE THIS MINIMALIST CHART Created on a MONTHLY, WEEKLY & DAILY Analysis (The Dynamics of the Market.) It is designed for SWING TRADES at the BOTTOM. I do not SHORT, though, you can still use it. You can CLICK AND hold THE CHART and PAN or DRAG IT. TARGET ZONE IDENTIFICATION The LARGE BOXES (Tops and Bottoms) are MAJOR pivot points that will occur sometime in the future. While the SMALL BOXES (Tops and Bottoms) are MINOR pivot points. These can be entries to a BUY/ SELL POSITION, EXIT/PARTIAL EXIT/TOP-UP AREAS, and, if you wish to hold longer for a MAXIMUM TARGET EXIT AREA OF VALUE - CONSERVATIVE (If price action conditions are right at that given moment.) At times I include WAY BEYOND PARABOLIC Price TARGETS depending on The Character of the Market (CRYPTOS ONLY). Watch out for your Volume, Chart Patterns, Candlestick Math, FIB COILS ( ABC ), Price Action, FIB LEVELS, Market Dynamics, especially institutional and retailer trading psychology. Wishing you all The Best Trades and Thank you all for your Appreciation and Support of My Work. Much thanks to My 3 Mentors. They are so much of a Blessing that I also wish to Share. Vive Le Autist! Vive Le Egalitarianism!
COINBASE:ALGOUSDLong
by The_Crypto_Samurai
5
Pullback time for ALGORSI seems to have hit an exhaustion on the 4h time frame, whilst on the daily timeframe it is currently hitting the 200 EMA, although the trend seems to be downwards since the RSI is giving a lower low and breaking support, a quick upper wave may be approaching,, a relative intensity to the 50 or 200 EMA line, before continuing its descent. This is not financial advice, just an opinion over a possbility over a reading of the actual trend. Short term: Bullish Long term: Bearish
BINANCE:ALGOUSD
by El_Morenito
ALGO STANDS STRONGAlgorand was showing the strongest type of structure prior to the sell-off in crypto throughout todays Asian-Session. Considering this neutral pennant has held, and that price does not fall below 1st support at 1.70 USD then ALGO looks clear to re-test the top of the wedge around 2.30USD, 2nd Resistance. Bitcoin must hold above 60K USD for this trade idea to stay valid, should BTC/USD fail to do so then new lows are inbound on ALGO around 1.55USD 1ST SUPPORT: 1.70 USD 2ND SUPPORT: 1.55 USD 1ST RESISTANCE 2.00 USD 2ND RESISTANCE 2.30 USD “Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party."
COINBASE:ALGOUSDLong
by easyMarkets
4