$ALGO has been lagging behind in price action lately, after a pullback from it ATH of $2.50 level.
A symmetric wedge is currently forming on the daily chart, and with Bitcoin being pumped about 15-20% since last week, it time for money to enter alts.
With excellent technology and fundamentals $ALGO is comparable to the likes of $ADA (Cardano) which currently...
Shop just hit its long term support and has similar RSI levels as March 2020 (Covid flash crash). IMO SHOP is highly undervalued and has been consolidating around the 17000-1900 range. Next leg up should take it to $3000 and then finally the 5th wave could propel us to around $4200 in the next 6 months. Going long with full force. Not financial advice!
Like and...
Major resistance at $38. If we break $38 with good volume, we should retest $50 level.
Speculation - Parachains are about to launch, most likely before the EOY, and we should see a supply shock of about 18-20% which would be locked for Parachains. Also, approx 65% of the current circulating supply is staked, which makes this supply shock even more interesting. I...
The Volatility S&P500 index is at same levels it was on May 2021, but only 20% of March 2020 levels. In my opinion the market shook up due to Evergrande fud, and I don't see deeper corrections unless 4th wave of COVID leads to major lockdowns again.
No real taper talk from FED so we should be safe to go a week or two from today. Planning to long some stocks...
ALGO/USDT short term price action prediction. Next impulse wave could start around $1.80 mark. Planning to set my limit buy around $1.65-$1.80 for a nice swing trade. Comment below your thoughts.
