Algo
Algo going back to 1$ ?BINANCE:ALGOUSDT
✅Before we start to discuss, I would be glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it.
Thank you.
Possible Targets
➡️Test fundamental price 1$ and global support trend line
➡️ Retest on D1 downtrend fib line
➡️ Retest 0.23 level FIB to make a continuation move UP
➡️ After retest target by end of Bull Run 5.52$
➡️Pattern since 2019 cup and handle already played.
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ALGO fractal to $3#ALGO/USDT
$ALGO is between descending trend lines and now is above support, there is a fractal from last swing down that till now it is the same as this swing.
if price follow this fractal, ALGO has to stay above weekly ascending support and head up to descending resistance and break it out to touch $3.
Algo Failing To Recapture 200 Day MAAlgo is currently fighting to recapture the 200 day MA as well as the .618 fib level. If it doesnt manage to break above both then we could see a drop to the .786 fib level around 1.10. I would wait to take a long position until their is a convincing break above the .618 fib level and 200 day MA.
ALGOUSD LONGWe recommend to take a long position as the price is currently at the lower boundary of the Keltner Channel. Moreover current market conditions are favouring bulls and we expect it to bounce towards the previous support which should be act as a resistance.
Entry and target are shown in the chart.
No financial advice.
Algorand (Algo) - Gearing Up for Something Big.Hi everyone,
Algorand is a promising project with a great team. The chart also looks fantastic, being in a very pronounced uptrend since around April 2020. This uptrend has involved previous resistance being turned into support, something which I believe is happening now. Due to the promising nature of the project and it's having a very modest market cap of $8 billion (lol), I believe that Algorand will go much higher. How much higher is difficult to say, but assuming a total crypto market cap of between 6-12 trillion $ by the end of this bull market, and assuming that Algorand continues to gain market share relative to its peers in the top 20 (from projects like litecoin, cro, and xrp for example), a market cap above 40 billion seems exceedingly likely, and thus an Algo above $5. Watch this space.
Take care everyone and happy holidays!
Jason
Consolidarion after the sharp declince...!Major cryptocurrencies experienced a 27-40% decline in the past 3 weeks and now they made a consolidation pattern!
Interestingly, they made 2 positive days followed by 2 negative days of small cycles, and they barely move in one direction for 3 days in a row in the past 12 days!
This shows weakness and in the decision in the market!
Conclusion:
Neutral until we see a breakout!
You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts!
Best,
Moshkelgosha
DISCLAIMER
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ALGO MASSIVE TREND!!!ALGO is in very good area to accumulate.
Its on the bottom of massive trendline trendline.
Its also in strong demand area.
It has also Support from EMA50 and Ichi clouds on weekly.
Everything is lined up!!!
Entry: 1.2-1.5
Targets:
1) 1.9
2) 2.3
3) 2.8
4) 3.4
5) 4.3
Stop: close weekly below 1
🔥 ALGO Huge Bullish ChannelSince the corona capitulation, ALGO has been trading inside a well-defined bullish uptrend.
With the recent fall of BTC, it's only natural that alts like ALGO will follow. However, ALGO is closing in on the support line of the bullish channel, making it likely that ALGO will bounce in the near future.
Wait for a confirmed trend change of BTC before trading. Target is the top of the channel.
Happy trading!
ALGO Bullish ALGOUSDT Buy Signal !!!!Not bad zone..
Use stoplose..
Not financial advice just my opinion..
Fundamentals:
1. Algorand is formally a public blockchain but sharpened to corporate culture for commercial use.
2. There is a possibility that only Ethereum and Algorand will be popular in a few years. Many other blockchains will simply occupy a small niche for their followers (Near, Solana, BSC , etc).You see this analysis from Lisa Emiliano.
3. Ethereum will remain the main forge of new technological projects with open source and decentralization, while the commercial use of distributed registers will remain with Algorand.
4. ALGO operates an algorithm that releases additional ALGO into circulation whenever the MA-30 rises above its ATH .You see this analysis from Lisa Emiliano. This artificially suppresses the price. It brings stability to ALGO, which is typically more attractive to forming large-scale partnerships but it discourages investors. Thankfully, this algorithm will no longer function beyond mid-2023.
5. Algorand has signed an agreement with the Government of El Salvador that the entire blockchain infrastructure of the country will be based on Algorand technology.
buy zoneit's no secret that i'm bullish on ALGO long term, and i think we're likely to see strong growth starting in Q1 2022. here are a few reasons why:
the new governance model is beginning, and users will be locking up supply for extended periods of time, effectively taking algo out of circulation. supply down, price up.
el salvador committing to algorand for their crypto infrastructure. el salvador doesn't exactly have a great track record as a model government, but i do think their endorsement is a valid signal of adoption.
it's fast and cheap and has some of the best minds behind it. and with MIT's ties to the Fed, i'm betting ALGO is on the U.S.'s short list.
placing my next round of buy orders on this $1.30 support. price may dip further to retest either of the major bull trendlines, but i don't think the probability is high enough to risk waiting.
this is (not coincidentally) right around the same level i was buying last time:
Algorand (ALGO) Buy ZoneAlgorand (ALGO) Buy Zone
--------------------
BIAS
Long-Term : Bullish
RISK : LOW
Algorand breakdown crucial resistance zone $1.56, just after the breakdown Algorand saw a short term dip.
--------------------
$ALGO/USDT SPOT SETUP
Entry Price : 1.0365 - 1.076
Mid-Term
TP 1 : 1.1
TP 2 : 1.39
TP 3 : 1.217
TP 4 : 1.3375
Long-Term
TP 5 : 1.4622
TP 6 : 1.5731
TP 7 : 1.779
TP 8 : 2.1
Stop Loss : 0.91
*Stop Loss - ALGO daily close below 0.91
*Maximum 5% of Portfolio.
*Whenever TP 2 hits, Move stop loss to entry.
--------------------
ALGO we tested 0.38 FibBINANCE:ALGOUSDT
✅Before we start to discuss, I would be glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it.
Thank you.
Possible Targets
➡️We tested 0.38 Fib global chart since 2019. (1.39$)
➡️I mention how much % Algo made last 2 times when we touch bottom on 1D on RSI
➡️According by cup and handle pattern what I've mention in previews ideas ALGO should reach 3.44$
➡️We got huge wick candle on 1D if we hold 0.38 fib we will go in to this imbalance zone 3-4$
➡️Worse case scenario if btc going to 44-40K we can see retest support global line and test 0.23 level by fib around 1$
➡️Targets still relevant for Algo 3.45$ - 5.52$
Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch!
✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes.
Don't forget sub and join my channels under this idea!
ALGO maintaining in bullish channel ALGO moving steady in middle trend line, charted from the monthly... price target $2.02
ALGORAND- Updated Chart with Key Levels 🕺Updated chart for ALGORAND which had a nice recent Pump and Dump that hit our 3 previous targets.
Remember: Buying and Holding will get you places but learning how to take profits and buying the dips will take you there faster...
3 Reasons to Buy Algorand :
1. Interoperability
2. Smart contracts
3. Algorand's growth potential is impressive
For hypergrowth investors, finding investments that provide unique competitive advantages and moats is important. In the cryptocurrency world, there is certainly no shortage of such options.
However, Algorand's unique network provides interoperability along with functionality that is truly enticing.
Of course, like other digital tokens, Algo is not without risk. This token's value depends upon the market consensus of its value, and the value of the underlying Algorand network. Accordingly, volatility can be expected.
However, those seeking a hypergrowth option in the cryptocurrency space today have reason to consider Algo. This is one of the top cryptocurrencies I've got on my watch list right now.
One Love,
the FXPROFESSOR