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Algo

TRADE ALERT - LONG ALGOAlgo has also entered my target down area and with the daily RSI into oversold territory, I believe this is an appropriate area to enter. Yes, Bitcoin could still come down to that 25,200 neckline area or lower, dragging ALTS down even further, but I have set my entry targets for these recent alts trades and will stick to the trading strategy at this point, holding through potential losses until they become profits again. Target will be upper levels printed. SL would be 14 cents or lower. Best, Stew
Long
by stewdamus
ALGO/USDT Falls into Bearish Trend on Daily TimeframeBINANCE:ALGOUSDT pair has turned bearish according to its daily chart, after a brief period of upward momentum. This is due to the formation of a bearish double top pattern, which broke downwards, followed by an ascending triangle that had the potential to break upwards. Unfortunately, the triangle broke downwards faster than anticipated, signaling a continued bearish trend. Algorand is currently trading near a significant support level, and if this level is breached, it could potentially result in further downside. The fate of Algorand will ultimately be determined by the performance of Bitcoin, which is a major influence on the broader cryptocurrency market. It's important to note that investing in cryptocurrencies is inherently risky due to the volatile nature of the market. Therefore, it's crucial to conduct thorough research before making any investment decisions and to have a sound investment strategy that aligns with your individual goals and risk tolerance. May the markets be ever in your favor!
Short
by UnknownUnicorn3327923
Algo Bulls Need FuelLooking at Algorand/USDT 4H on Binance, it seems like there is a long road ahead for ALGO bulls. We see two recent rejects at the .5 FIB / $.24. The retracement found support on the 200MA but the subsequent bounce was unable to fully recapture the .382 FIB at $.225. I'd expect some chop between the 200MA & .382 then a drop down towards $.21. With the two rejections in place at $.24 and little volume supporting the 200MA bounce, I'm generally bearish in the short & long term on Algo. The volume spike that drove it from $.19 to $.24 seems anomalous and without any real momentum. Should bulls get the fuel they need from somewhere in the ecosystem, its a tough road towards the long time resistance at $.26 (white line). I'd expect multiple attempts & failures at recapturing that level, especially with the .618 so close to it. With so many other charts & cryptos showing bullish indicators, Algo is a tough technical sell in current form.
Short
by ChartswithChip
7
ALGO/USDT - Algorand: Resistance_Breakout_Confirmation◳◱ A Resistance Breakout and Confirmation has been detected on the SIX:ALGO / CRYPTOCAP:USDT chart. The price has broken above a key resistance level and has been confirmed by a strong candle, indicating a potential bullish trend. The next resistance key levels are located at 0.2247 | 0.2329 | 0.2501, and the major support zones can be found at 0.2075 | 0.1985 | 0.1813. Consider entering a trade at the current price zone of 0.2313 and targeting higher levels. ◰◲ General info : ▣ Name: Algorand ▣ Rank: 40 ▣ Exchanges: Binance, Kucoin, Bybit, Huobipro, Gateio, Mexc ▣ Category/Sector: Infrastructure - Smart Contract Platforms ▣ Overview: Algorand is a scalable, secure, and decentralized digital currency and smart contract platform. Its protocol uses a variation of Proof-of-Stake (PoS) called Pure PoS (PPoS) to secure the network and reach consensus on block production. Unlike other PoS models, PPoS does not reward, nor does it put validator or user funds at risk of being slashed (a loss of funds used to promote honest node and user behavior). Algorand intends to eventually leverage its PPoS design to form the foundation for an on-chain governance system. ◰◲ Technical Metrics : ▣ Mrkt Price: 0.2313 ₮ ▣ 24HVol: 12,134,262.215 ₮ ▣ 24H Chng: 5.858% ▣ 7-Days Chng: 4.60% ▣ 1-Month Chng: 11.99% ▣ 3-Months Chng: 0.01% ◲◰ Pivot Points - Levels : ◥ Resistance: 0.2247 | 0.2329 | 0.2501 ◢ Support: 0.2075 | 0.1985 | 0.1813 ◱◳ Indicators recommendation : ▣ Oscillators: BUY ▣ Moving Averages: STRONG_BUY ◰◲ Technical Indicators Summary : STRONG_BUY ◲◰ Sharpe Ratios : ▣ Last 30D: 0.76 ▣ Last 90D: 0.54 ▣ Last 1-Y: -0.78 ▣ Last 3-Y: 0.63 ◲◰ Volatility : ▣ Last 30D: 0.90 ▣ Last 90D: 0.86 ▣ Last 1-Y: 0.95 ▣ Last 3-Y: 1.20 ◳◰ Market Sentiment Index : ▣ News sentiment score is N/A ▣ Twitter sentiment score is 0.60 - Bullish ▣ Reddit sentiment score is 0.46 - Bearish ▣ In-depth ALGOUSDT technical analysis on Tradingview TA page ▣ What do you think of this analysis? Share your insights and let's discuss in the comments below. Your like, follow and support would be greatly appreciated! ◲ Disclaimer Please note that the information and publications provided are for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. We encourage you to conduct your own research and consult with a qualified professional before making any financial decisions. The use of the information provided is solely at your own risk. ▣ Welcome to the home of charting big: TradingView Benefit from a ton of financial analysis features, instruments and data. Have a look around, and if you do choose to go with an upgraded plan, you'll get up to $30. Discover it here - affiliate link -
by Crypto2AF
ALGO/BTC - Algorand: Falling_Wedge◳◱ We've detected a Falling Wedge pattern on the $ALGO / $BTC chart. This pattern is a bullish indication and could indicate a potential trend reversal. The next resistance key levels are at 0.00000826 | 0.000009 | 0.00001016 and the major support zones are respectively at 0.0000071 | 0.00000668 | 0.00000552, We may consider buying at the current price zone at 0.00000738 and targetting higher levels. ◰◲ General info : ▣ Name: Algorand ▣ Rank: 39 ▣ Exchanges: Binance, Kucoin, Huobipro, Bittrex, Kraken, Hitbtc ▣ Category/Sector: Infrastructure - Smart Contract Platforms ▣ Overview: Algorand is a scalable, secure, and decentralized digital currency and smart contract platform. Its protocol uses a variation of Proof-of-Stake (PoS) called Pure PoS (PPoS) to secure the network and reach consensus on block production. Unlike other PoS models, PPoS does not reward, nor does it put validator or user funds at risk of being slashed (a loss of funds used to promote honest node and user behavior). Algorand intends to eventually leverage its PPoS design to form the foundation for an on-chain governance system. ◰◲ Technical Metrics : ▣ Mrkt Price: 0.00000738 ₿ ▣ 24HVol: 18.171 ₿ ▣ 24H Chng: -0.135% ▣ 7-Days Chng: -10.79% ▣ 1-Month Chng: -21.83% ▣ 3-Months Chng: 19.53% ◲◰ Pivot Points - Levels : ◥ Resistance: 0.00000826 | 0.000009 | 0.00001016 ◢ Support: 0.0000071 | 0.00000668 | 0.00000552 ◱◳ Indicators recommendation : ▣ Oscillators: BUY ▣ Moving Averages: STRONG_SELL ◰◲ Technical Indicators Summary : SELL ◲◰ Sharpe Ratios : ▣ Last 30D: -2.72 ▣ Last 90D: 1.30 ▣ Last 1-Y: -1.08 ▣ Last 3-Y: 0.65 ◲◰ Volatility : ▣ Last 30D: 0.81 ▣ Last 90D: 0.79 ▣ Last 1-Y: 0.95 ▣ Last 3-Y: 1.20 ◳◰ Market Sentiment Index : ▣ News sentiment score is N/A ▣ Twitter sentiment score is 0.60 - Bullish ▣ Reddit sentiment score is 0.59 - Bullish ▣ In-depth ALGOBTC technical analysis on Tradingview TA page ▣ What do you think of this analysis? Share your insights and let's discuss in the comments below. Your like, follow and support would be greatly appreciated! ◲ Disclaimer Please note that the information and publications provided are for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. We encourage you to conduct your own research and consult with a qualified professional before making any financial decisions. The use of the information provided is solely at your own risk. ▣ Welcome to the home of charting big: TradingView Benefit from a ton of financial analysis features, instruments and data. Have a look around, and if you do choose to go with an upgraded plan, you'll get up to $30. Discover it here - affiliate link -
by Crypto2AF
Algousdt | Getting Ready Algousdt Getting Attention of Buyers, Big traders are showing interest in Algo Hope to see a breakout very soon. Wait for Breakout Incase Of Breakout Expecting Massive Bullish Move. Remember: We only give ldea's from our experience and knowledge, it does not mean that it will be 100% correct, the market is always unpredictable, anything can happen anytime. Always trade with your own research and knowledge. If You Are Satisfied With Our Work Then Join
Long
by Crypto-By-Ghazi
Algo Breakout has occurred. What am I waiting for?Traders, Algo has broken the triangle definitively. But I hesitate to enter for several reasons: 1. That 50 day coming down hard 2. Still not above .227 cents level 3. Need at least one confirmation candle on the daily above .227 and preferably above the 50 day ma. 4. Still expect BTC to draw back more. 5. Headed OOO for the next week and a half and I don't want to be tracking trades during this period if I don't have to. I wouldn't blame anyone who follows me to want to enter here. I am just not. Yet. Stew
by stewdamus
2
ALGO: The Long Term Bet I Would Love to MakeBy the time of writing, ALGO has already down 95% from its ATH in 2019. Meaning, if we buy now, and it goes back to ATH, we can profit up to 20x our investment. A very good deal, don't you think? In addition, Algo is now sitting at a multi-year weekly support. Even if Algo does not manage to reach its ATH, but only to let's say its weekly resistance, the potential profit is already 500%. I really think that this is a very good deal, personally. For better confirmation, we can wait for these indicator/condition to be fulfilled: - Break of the white trendline - Break of 21 EMA and/or surge in buying volume
Long
by Evolutiontrading-Indonesia