Algorand - IN MY HUMBLE OPINION
Updated
Fundamentals : Last couple of months, there have been very good development with Algorand, though its in the shadows, its been ringing a lot of bells. Month June was the highest ever number of transaction Algorand processed.
Algorand is constantly in touch with the banking system and it does look like this project is going to achieve what XRP could not.
Technicals : The chart against BTC pair looks like it bottomed.
Taking into consideration that most Altcoin Charts against their Bitcoin pairs have bottomed during the month of July,
Algorand is portraying significant strength by reaching a bottom price in the middle of June.
Moreover, all the weekly candles of Algorand/Btc are extremely small candles in size comparison to weekly candles of 12 15 months ago. This is likely due to price being pushed down and down but not much selling occuring. Either most weak hands are out already, or they are at a point where its useless for them to sell hence Hodling.
On 3D timeframe, Rsi has printed a Hidden Bullish divergence.
Weekly timeframe stochRsi bullish.
The correct way to look at the chart is on 8hour timeframe and daily timeframe for proper support and resistance as pointed on this chart.
InShaAllah ! Ameen.
Algorand is constantly in touch with the banking system and it does look like this project is going to achieve what XRP could not.
Technicals : The chart against BTC pair looks like it bottomed.
Taking into consideration that most Altcoin Charts against their Bitcoin pairs have bottomed during the month of July,
Algorand is portraying significant strength by reaching a bottom price in the middle of June.
Moreover, all the weekly candles of Algorand/Btc are extremely small candles in size comparison to weekly candles of 12 15 months ago. This is likely due to price being pushed down and down but not much selling occuring. Either most weak hands are out already, or they are at a point where its useless for them to sell hence Hodling.
On 3D timeframe, Rsi has printed a Hidden Bullish divergence.
Weekly timeframe stochRsi bullish.
The correct way to look at the chart is on 8hour timeframe and daily timeframe for proper support and resistance as pointed on this chart.
InShaAllah ! Ameen.
Trade active
trade is not over yet. this could all be just a fakeout 188 and then bounce to above 600 with a 3x +/- gain.Note
trade active. low leverage. no stop loss.
just a matter of days.
it starts soon
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