Get started
Algorand
Long

ALGO to resume uptrend

By tradecarte1
ALGO found support around .33 and .34 area and broke back above .40 which is a critical level tracing back to beginning of 2020. Prior to the breakout the price action was moving below the moving averages (5EMA / 12EMA), with the breakout back over .40, the price action jumped over the moving averages which signifies a reversal to the up side. Additionally, the 12EMA (short term) crossed over the 26EMA (long term) on the 6HR chart. Probability and analysis is on the side of the BULLS.
Chart PatternsCryptocurrencyTechnical IndicatorstechnicalTrend Analysis
tradecarte1

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.