Trade setup : Price remains in an Uptrend. We would be buyers on pullbacks near $0.25 support area, which is also near its up trendline, and could be an attractive swing entry in Uptrend, with +20% upside potential $0.30 near-term. Stop Loss (SL) level at $0.215.
Trend : Downtrend on Short-Term basis and Uptrend on Medium- and Long-Term basis.
Momentum is...
ALGOUSDT is in downtrend but look like the bullhave started to gain strenght. A bullish divergence is formed when the prices were forming LL the RSI momentum indicator have shown series of HL. Current steup to go short is available at 0.38 fib retracement.
ALGOUSDT is in strong bullish trend.
As the market is consistently printing new HHs and HLs.
currently the market is retracing a bit after last HH, which is 50% Fib retracement level and local support as well. if the market successfully sustain this buying confluence the next leg up could go for new HH.
What you guys think of this idea?
This is merely a prediction for ALGO during this bull run, and I will use Dollar-Cost Averaging (DCA) between the two red lines. The range is wide, but I am considering the big picture. This may take months to unfold, or it may not occur at all, as every altcoin tends to follow BTC.
This is a weekly technical analysis for educational purposes on ALGOUSDT. I believe that Algo will revisit the same levels and will be widely discussed during the altcoin bull season. I may be wrong. :)
Regards,
Trade setup : Price remains in an Uptrend. We would be buyers on pullbacks near $0.25 support area, which is also near its up trendline, and could be an attractive swing entry in Uptrend, with +20% upside potential $0.30 near-term. Stop Loss (SL) level at $0.22.
Trend : Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD...
Hello Traders, this is outlook that i think might be work. All Entry, Stop Loss, and Take Profit its already showed up. All trade it is on yourself. DYOR.
Long term projection ALGO/USDT
The price action is starting to break above the Simplified Ichimoku Cloud, indicating a potential bullish reversal...
The RSI is showing an upward trend crossing above the 50 level, suggesting increasing bullish momentum.
Bullish target levels are marked based on Fibonacci retracement levels from the peak of the last Bullish wave to...
RSI is below 40, indicating bearish momentum. However, it is not yet in the oversold territory, suggesting there could be more room for downward movement or consolidation before a potential reversal,
MACD line is below the signal line and below zero, which confirms the current bearish sentiment.
The On-Balance Volume is relatively flat with a slight downward...
Hello Trader BINANCE:ALGOUSDT.P
history chart algo has not been able to break through the new resistance area, pay attention to the green line, for the area is the nearest daily chart support, can be for scalping short for a period of 1-3 days this weekend.
take profit 10%
stop loss 2.5%
Please add a comment and Positive feedback and constructive criticism...
Good day there,
Algorand has the potential to go up to form a lower high near the 0.2920 areas and drop to the low regions of 0.2223 and make a bullish pullback.
The potential uptrend can reach 0.3838 to 0.4231 highs.
The current daily bear candle, however, isn't clear. I used the Elliot Wave schematic for potential future resistance levels.
Happy Trading,
K.
ALGO
Algorand is a fast, secure, and decentralized blockchain network based on a pure proof-of-stake protocol. It’s known for its speed, scalability, and energy efficiency. Algorand is also carbon-negative and plans to introduce dynamic round times, incentivized consensus, a peer-to-peer gossip network, and native Python support in 2024. It’s a promising...
