ALGOUSDT is possibly an interesting trading vehicle for a swing trade.
There is a triple bullish divergence, although it is a bit tricky because the daily chart does not look too good yet.
One could wait for the daily to see the EMA's return positive as well as MACD.
On the 8H chart, we can see how it develops.
Trade entry 0.317 up to 3.23
0.317 (took the...
Priceline of Algorand (ALGO) / US Dollar has formed a bullish Crab pattern and entered in potential reversal zone.
Do use the potential reversal zone as stop loss in case a candle stick closes below this PRZ area.
I have defined targets using Fibonacci sequence as below:
Buy between: 0.406 to 0.275
Sell between: 0.507 to 0.753
ALGO appears to have found support within 6% of the low and a spinning top candle on the daily coinciding with the RSI trendline suggests a reversal here. Targets are the green dashed downtrend line, avg. volume price (pink dotted) and the 50MA for an estimated 12-24% ROI.
After a resent pump the coin is flatting in the channel. Right now the price is at the lower border. You can take a small position from here if you want to. But keep safety orders at the lower buy levels. First seller will be on the middle of the channel - then at the upper border. Zones of interest and targets are on the chart. Good luck everyone!
We are located in the ATL zone. We expect a rebound up to the nearest resistance level. Also, these expectations are confirmed by fundamental factors.
Investment company Algo Capital raised $ 200 million to develop the ecosystem of the Algorand blockchain. Among the investors of the specially...
The long awaited move by ALGO has begun, breaking the long resistance in stoch RSI on the 6 and 12 hour charts. It's made the biggest move since Aug 14 and all other signs are positive too.
I believe it has completed its first small wave with it currently in a small downtrend. I am expecting it to rise to the peak RSI on the 6 hr chart in the short term.
Priceline of Algorand (ALGO) / Tether US has formed a bullish BAT pattern and entered in potential reversal zone.
I am expecting that next candle stick will be closed sideways within the potential reversal zone so we can wait for next next candle stick before buy.
I have used Fibonacci sequence to set the targets:
Buy between: 0.705 to 0.683
Sell between: 0.758...
based on Renko. also bolinger bonds and stoch RSI, it looks buy opportunity. Also in 5min candles you can see possible ascending triangle pattern. wait until 0.563 which is bolinger band moving average. then buy
Good morning to everybody in Asia and good evening to the rest of the world.
My crypto of the day is ALGO/USDT, one that has been downtrending for a very looooooong time. Based on my TA. I believe this is going to change.
Long-term analysis (as long as it can get for ALGO :) ) indicates this is heading in the same direction as BTC did when it first turned up...