Let's dive into analyzing this cryptocurrency, which appears to be in a promising position. 🕵️♂️💼
After ranging within a 640-day weekly box, it seems Algo is ready to break out of its ceiling.Note that it currently faces a short-term box at its next resistance. ⏩🛑
The green weekly candle with a lower shadow indicates buying pressure and a rejection of sellers. 💚🕯️ However, we need to wait for the candle to close, which typically takes about 1 day. 🕰️⏳
Upon the closing of this candle, we can consider buying in the spot market or placing a buy stop above the weekly shadow and consider resistances at 0.4029 and 0.7904. 🛒🎯
The volume of this candle is higher compared to others and is increasing. Additionally, the RSI entering its overbought zone can further confirm the bullish sentiment. 📈💪
Our distance to future resistances, if the price continues to rise, is 45 and, if it breaks, again 95 percent. 📈💼
You can set a logical stop-loss based on your strategy, but a riskier stop-loss can be placed behind the candle, and a logical stop-loss can be set around 0.1576. 🎯🛑
I recommend researching the project's website before buying this coin for long-term holding to potentially acquire more coins throughout your holding period. 🌐🔍
Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles. 🚀📈
After ranging within a 640-day weekly box, it seems Algo is ready to break out of its ceiling.Note that it currently faces a short-term box at its next resistance. ⏩🛑
The green weekly candle with a lower shadow indicates buying pressure and a rejection of sellers. 💚🕯️ However, we need to wait for the candle to close, which typically takes about 1 day. 🕰️⏳
Upon the closing of this candle, we can consider buying in the spot market or placing a buy stop above the weekly shadow and consider resistances at 0.4029 and 0.7904. 🛒🎯
The volume of this candle is higher compared to others and is increasing. Additionally, the RSI entering its overbought zone can further confirm the bullish sentiment. 📈💪
Our distance to future resistances, if the price continues to rise, is 45 and, if it breaks, again 95 percent. 📈💼
You can set a logical stop-loss based on your strategy, but a riskier stop-loss can be placed behind the candle, and a logical stop-loss can be set around 0.1576. 🎯🛑
I recommend researching the project's website before buying this coin for long-term holding to potentially acquire more coins throughout your holding period. 🌐🔍
Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles. 🚀📈