Algorand (ALGO/USDT analysis)📉📈
HEY traders, what's going on today ?!
Since 21 Feb2021, when I posted the ' Algorand ' analysis and after reaching its ATH ,it has been declining till now ,although according to my analysis first it declined to the
lower entry point then jumped from there , but wasn't able to rise more as much as I predicted . (more than 320%💰 (1x)long).
So today I'm gonna have another analysis on the weekly timeframe for Algo/usdt , and as you can can see after finishing the ascendant Eliot waves , it started the corrective wave (ABC) ,and already trading below the important pivot zone and between (38.2 -23.6 ) of fibo Level . so if it be able to breakout the descending trendline and overcome the pivot zone it can retest the higher resistance zone . but otherwise it will fall again to lower support lvls.
✌️ Good luck with your trading and investing and remember: Trade smart…OR JUST DON’T TRADE!
--------------------------------------------------------------------------------------------------------------------
👉This analysis is my personal opinion ,not a financial advice ,so do your own research.
💚if you're fan of my analyses please follow me , give a big thumbs 👍 OR drop a comment 🗯
Related publications
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.