We can see as is common with most cryptos, the Algo went back below the purple trendline after its 1st initial breach above the purple channel. Now that we have broken above again and retested that line as support probability increases significantly for it to validate the breakout this time around. So I have posted an updated chart with the measured move line...
Could the Altcoin season just be getting interesintg with ALGORAND running into an impulse wave? Let's talk about Elliot Waves. Certainly! **Elliott Wave Theory** is a fascinating approach to technical analysis that identifies recurrent long-term price patterns based on changes in investor sentiment and psychology. Let's delve into the key concepts: 1. **What...
Algorand has been lagging behind most alt coins in this early stage of the bull run. last few days we've seen a noticeable increase in volume and a breakout of a short term downward trend. I expect a sharp move upward once we strike the orange horizontal line, which has been previously a resistance line.
📉Hi Traders, Investors and Speculators of Charts📈 If you've been following, you'll know I'm fundamentally bullish on Algorand. And it gets better than fundamentals - we are currently witnessing a similar fractal that played out on ALGO during early days - the Elliot Wave Fractal. From the macro perspective, we can see that Algorand has a long way to go before...
Bullish consensus from Gann and Pitchfork? Also bullish Wave Trend, Hull, Hull MACD? Consolidation till breakout on about 12March?
in my opinion it is a bowl with a first we will form a bowl handle and we'll see there
Bullish consensus: Gann, Pivot Fan, Hull, Hull MACD, Fib Channels, Volume Spikes, Divergence? Consolidation / Accumulation till last week of Feb?
I recently posted my idea about nested LINK patterns and am seeing something similar in ALGO. The ALGO 1D chart is showing a cup & handle pattern. I put the target between .42-.64 depending on whether you start the up move from the top of the cup or bottom of the handle (not sure about that). ....but if you zoom out, it looks like this cup is the head of a...
I am looking to create a strategy but I need help please. I've been using 3 MACDs. - MACD 1 = 1 Day - MACD 2 = 4 Hour - MACD 3 = 1 Hour The strategy is that I am using the 1 Day and the 4 Hour as trend indicators. Both of them have to be rising, then the long is taken when the 1 Hour MACD crosses above Zero at candle close. If the 'trend' MACDs are rising and...
We can see here how algo’s current daily candle is confidentially above the purple channel’s top trendline and currently seeing a bullish impulse. If it validates the breakout at this spot the target is around 39 cents. *not financial advice*
Another example of the psychological market manipulation. 3 examples Bitcoin, Ethereum and Algo. Bitcoin and Ethereum vs Algo. Compare yourself and look at support and resistance levels of all 3. Determine for yourself what is the best investment. Algo = massive growth cycles moving forward into the future. Like buying bitcoin or Ethereum 5 to 10 years ago....
Bullish Failure: ALGO's inability to sustain its reversal rally above $0.24 leads to a sharp decline. Critical Support Breached: The price falls below the key level of $0.20, indicating increased bearish pressure. 50D EMA Struggle: ALGO is currently experiencing high volatility around the 50-day Exponential Moving Average (EMA). Potential Bearish Pattern: The...
Current State: RUNE price faces a downturn, currently trading at $4.53, teetering around a key support level. Recent Drop: Experienced a significant 10.54% fall last night, signaling potential market volatility. Key Support: Finds itself at the critical $4.50 mark, a pivotal point for the upcoming price trend. Technical Formation: A potential double bottom pattern...
Pennant forming on the daily chart. We'll see what happens next. DYOR
Is ALGO finally looking to break to the upside for the first time in 2024? its looking promising! A critical level for ALGO is around $.30 and I think we might be making a slow journey in that direction. Trading the breakout pull back continuation pattern to confirm direction and volume.
It would appear that the next wave up is underway. To remind, ALGO printed a shooting star and that would very often signal a top / significant correction. But crypto is really warming up now and ALGO appears to be into the next wave up already. It wasn't entirely clear because we have multiple tiered 3 wave corrections. And ALGO has not even hit the 0.382...
I'm adding more to my position on Algo. This thing is strong and will continue to awaken. Check levels for accumulation ranges. 16% I have limit buy orders at every 5% to grab more momentum once we take off. Low-Medium Risk Trade Check All Levels, Plan in advance based on risk tolerance. Always us risk management, DYOR and NFA.
The focus of the money being back on crypto, we can see the patterns showing. While many complain of ALGOs slow move, the announcement to allow PYTHON language programming in February 2024 will only push ALGO adoption up. Remember, ALGO has never had down time, never has failed since it's inception in 2017. All the best of family, health and wealth for you!