ALGO looks to be hitting it's bottom again. We also see a price consolidation occurring.
This Bottom Support trend line stretches back to March, and has proven to be a solid trend line. We're also approach the upper trend line from the initial listing on Binance. Seeing a lot of historical correlations all across the market right now and that's a good thing.
Algo is nicely staying above the yellow support line and within the yellow triangle. I just can't wait for it to break out of it and i'm sure that it will. The safest buy of course is just above the yellow triangle, because then the price action will be above the moving averages. If you look at the TOTAL2 which looks also very bullish to me, it looks like nothing...
As you can see on 4H chart we are in symmetrical triangle and now just created GOLDEN CROSS, last golden cross was at 11th july, then price goes to new high...0,76 §.
Don´t misss it!
However, everything depends on BTC
Finally price close to end the wedge :
From a technical point of view, when we encounter a descending wedge, it means that the uptrend is temporarily paused.
it seems to price sliding loses momentum and buyers step in to slow the rate of decline. Before the lines converge, price may breakout above the upper trend line.
MACD & RSI still neutral.
- 0.76$ peak on Aug 14 has lead to a deep correction in term of price
- 38-days of bearish trend should end soon
- 0.30$ should act as a psychology support
- BUY at CMP with RR 1:3.08, TP at 0.43$ zone, SL: Anything below 0.25$
- Mid to long term trade, good to hold spot/margin
- Futures trader trade with care
- Recent bull-run created a higher high, next...
Today, our Automatic Engulfing Strategy revealed a potential growth in ALGOUSDT price.
The reverse in the price movement is confirmed by the DMI Indicator: +DI and -DI lines reflects the increase in the bullish and decrease in bearish activity.
The RSI and Bollinger Bands Indicators demonstrate that the downtrend is over.
We expect the 2.7% price growth from...
Algo is in a good position for a long time. Reversed from Fibo 618 support and stabilized above the static resistance level and I think it can break the trend and move towards the black Shinigami and touch the targets that are specified.