4H time frame
ALGO is in a descending channel, and it started to form this channel since increased by 41%.
The price stops making lower lows and hit Fib 0.382 smoothly for support confirmation.
We can long it at 0.34 and add more position at 0.335(Fib retracement level_0.382)
TP: 0.3565, 0.3735
Upon the break of triangular patterns, the best time to open a trade is when it comes back down to test the triangle as support. If you zoom in, this is exactly what ALGO has done.
Therefore, it is a great time to go long.
The TP levels are set on the chart, and I'm sure it will continue higher after as well.
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(ALGOUSDT 1W Chart)
The key is whether you can support and move up in the 0.3310-0.4253 zone.
0.4253 : volume profile point
0.3310: boundary point of the floor section
🔰You can see Algorand's cryptocurrency analysis in a one-hour time frame (ALGOUSDT_ 1H)🔍💣
💥The price behavior is clear in the picture🧐 If the price can reach the DEMAND zone, it can experience an upward trend up to the Downward trend line🖤, and if it can break the Downward trend line🖤 upwards and stabilize❗ above it, it can have an upward trend up to the SUPPLY...
ALGO has formed a large falling wedge which is common among many crypto coins currently
The green horizontal is a strong support line, using the curved line to show the kind of cup structure price is forming once hitting this green line
It is a very bullish structure
Lets see how it plays out
The price is creating a triangle on the daily timeframe.
The price got a rejection from the dynamic resistance and now the market is trying to hold the daily area on 0.3$
how to approach it?
The price needs to create a clear breakout in order to create a massive breakout
This is a huge falling wedge that is pointing to a crazy support level.
We have a nice trade range on the daily chart. Imagine breaking the range down but finding support near that crazy support level.
If you want to buy a coin soon, ALGO might be a good choice. Buy the support level or the breakout. It doesn't really matter. Potential reward is crazy.
Trading volumes are increasing as the price rises.
ALGO continues to be above liquidity.
TD Sequential has formed a reversal signal upwards (1H TF)
I believe that the asset may continue to grow if it fixes above the support level.
It is completing the cup pattern in the daily time frame and high goals can be imagined for it. It has medium-term goals of 0.7885 and long-term goals of 1.0966. Also, algo is responsible for part of the expenses of the 2022 world championship, and this will increase this currency.
This is my first position I am opening this week.
We're in an Ichimoku cloud of support on the 1-hour.
Momentum downward has thinned and our TSI and MACD are converging for a crossover.
RSI is also starting to crossover the EMA line another bullish sign.
This could be a good scalp position.
A small double bottom seems to have formed here as well.
BABA ALWAYS RIGHT: ALGO WILL DOWN TO 0.29 AFTWR REACHING 0.425...
very much over bought... curve seems to be down soon... very shortive in nature... soon will down...
SELL SELL SELL...
not financial advice
Algorand (ALGO) Price Prediction 2022
Algorand (ALGO) holds the 33rd position on CoinGecko right now. ALGO price prediction 2022 is explained below with a daily time frame.
The above chart of Algorand (ALGO) laid out a Falling Wedge pattern. In a falling wedge pattern, both the upper trend line which connects the highs and the lower trend line which connects...