AlgorandUpdated algo appears to be possibly breaking up from purple channel
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*
Note
.3994 to be exact.Note
Back below the key purple trendline for now. Price action often takes a few dips back below a trendline before finally triggering the official breakout so no big shock here.Note
Seems like we need at least 2 consecutive weekly candle closes above the purple trendline before we can validate a breakout.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.