Maybe it is not valid, there is currently not enough information available but if you are bullish on ALGo than maybe it is something to keep in consideration.
Daily
Looking at our highest timeframe we see ALGO has formed a head and shoulder (H&S) pattern and is currently testing our dynamic support at $0.30. Stochastic RSI showing momentum is in favor of the bears with no signs of slowing down. A bounce off this level invalidates this (H&S) however we would still need to close above $0.3200 to continue towards the...
Daily
Looking at our highest timeframe we see ALGO has remained in its uptrend since the beginning of February, although we are in a minor correction. Stochastic RSI showing momentum has formed a double bottom and the bulls are in a slight pause. Our (2) most recent daily candles are showing some wicks, could be an early sign of the bears getting exhausted. A...
Push to 60c
Support Tested and the H&S pattern target would be 2c. Unless something happens to this market i don't see 2c for algo so i will move forward with a upper target of 60c.
The next resistance is at approx. .42ish because of the h&s pattern. there is still room on rsi & macd for continued growth. It really comes down to weather BTC breaks 9K and holds, or not. Remember, this is just one man's opinion.
Algo/USD has been following the market's retrace. Todays activity, and I stress that it is one day's activity in the 4H view only, is showing hints of a possible bullish reversal. This is my opinion only so do not trade based upon this. This is only my personal observation
Daily
Looking at our highest timeframe we see ALGO testing our dynamic support(uptrend) stochastic rsi showing momentum is in favor of the bears with no signs of reversal. ALGO formed a higher high with a daily close at $0.50 taking out our previous higher high at $0.40. Since making a new high the price has remained in a minor downtrend and is now looking for...
Weekly
Looking at our highest timeframe we see ALGO has never seen a bull run, and already shows some great upside potential. Support found at $0.18 and has remained in an uptrend since. Price has retraced about 30% since making a higher high at almost $0.5200, this week’s candle looks like it has bounced off our previous breakout zone. Some in the crypto...
Monthly
Looking at our highest timeframe we see ALGO has been descending since it's all-time high at $3.77, our all-time low showed at $0.17. If we are looking at simply from a risk to reward perspective the odds are in our favor.
Weekly
Looking at our pattern timeframe we see the price has found support at $0.20 and has since been in a minor uptrend....
Hello friends, please hit the LIKE to motivate these publications .
Between Mod duties and my own trading, it is not easy to post.
This is part of my ongoing analysis of AlgoRand price moves.
Nice parabolic run that started precisely from a mapped support.
Topped as expected but it MAY have on more leg to run upwards.
Now in pullback mode, but is already at first...
