ALGOUSDT: Higher Highs and Higher Lows
ALGO has been caught in a range for a while now.
Looking at the chart we can clearly see an aggressive reply by the Bulls, defending the 0.9$ price point and pushing the price to the 61.8% Fib level.
On the 1D chart, as far as technicals go:
- The RSI is sitting closer to 50 (NEUTRAL/HOLD).
- While the MACD has yet to cross above the Signal line. That being said, the Histogram has indicated a decrease in Bearish Momentum.
- MAs remain in favour of the upwards trend.
What to look out for:
- The EMA9 crossing above the MA50 might signal a move towards the 1.45-1.50$ resistance (Blue Impulse).
- While the opposite might see us retesting the 1.08-1.19$ range, which might ignite a V-shaped recovery in the short-term (Red Bounce).
Looking at the chart we can clearly see an aggressive reply by the Bulls, defending the 0.9$ price point and pushing the price to the 61.8% Fib level.
On the 1D chart, as far as technicals go:
- The RSI is sitting closer to 50 (NEUTRAL/HOLD).
- While the MACD has yet to cross above the Signal line. That being said, the Histogram has indicated a decrease in Bearish Momentum.
- MAs remain in favour of the upwards trend.
What to look out for:
- The EMA9 crossing above the MA50 might signal a move towards the 1.45-1.50$ resistance (Blue Impulse).
- While the opposite might see us retesting the 1.08-1.19$ range, which might ignite a V-shaped recovery in the short-term (Red Bounce).
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