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Algo

ALGORAND 1 possible long term scenarioFirst things first, monthly chart looks very bullish. Very obvious higher highs and high lows, market structure break leaving monthly demand zones. Using the fib trend tool, we can guess at AlGOs next target which would be 3.3057 which is our 1.618 fib target. Judging by the current swings in the market, if there is some sort of major correction, I'd expect price to go down either to the 0.5 fib level or below it to fill that imbalance zone it left behind and maybe bounce from there. Though at the moment, we are still in a bull market so I don't expect such a major correction. But if we do get one, it wouldn't be a bad thing because at 0.5 or below it, we could potentially find amazing long term entries. So if you do see ALGO going way down for some reason, look at the monthly. Cheers.
Long
by solomonroskin
$ALGO targets $6 over the LT but w/ ST potential downside riskI think the next time we touch the blue trend line running through the middle of the chart, it should break. Which would give $algo great upside to the higher green targets w/ a potential of $6 as the final target. The key level to break on the upside is $2.56 (ATH) which would provide a path for continuation upwards. However, the question is, what is the path to get there? I don't think the trade is as simple as it looks from the chart at the moment. While there appears to be a flag that has formed on the chart, and the indicators are looking good, I think BTC could potentially take Algo down with it, if it were to fall. I think the most likely scenario from here is that we break down from the flag (or break up and roll over) and find support at $.96-1.23 before the uptrend resumes. Reason being, that I'd have a hard time seeing Algo running straight up without retesting those lows first. Let's see how it plays out. I added some key dates on the chart for changes in price action to watch.
COINBASE:ALGOUSD
by benjihyam
🔥 ALGO Break Out After 2-Month SleepAfter hitting the $2.50 area around two months ago, ALGO has been vastly asleep and price action was very low. With today's massive break out, price action is back on the menu. I'm foreseeing a new ATH in the next couple of days, assuming BTC will not dump. After that, price discovery is coming our way. The last price discovery phase resulted in a ~40% gain for ALGO, which would take the price to $3.60. We'll come back to this analysis once ALGO has made a new ATH in the near future. Happy trading!
Long
by FieryTrading
11
Algorand (ALGO) 70% Profit OpportunityAlgorand ( ALGO ) Current Price: 1.97usd Buy Zone: 1.90-2.10usd Sell Zone: TP1: 2.40-2.60usd TP2: 3.40-3.60usd What Is Algorand (ALGO)? Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are secure, scalable and efficient, all critical properties for effective applications in the real world. Algorand will support computations that require reliable performance guarantees to create new forms of trust. The Algorand mainnet became live in June 2019, and was able to handle almost 1 million transactions per day as of December 2020. Algorand transaction metrics can be viewed here. Algorand initial coin offering (ICO) was held in June 2019, with the Algorand price of $2.4 per token. Who Are the Founders of Algorand? Silvio Micali is a professor of computer science at the Massachusetts Institute of Technology, and the founder of Algorand. He is a recipient of the Turing Award (in 2012) for his fundamental contributions to the theory and practice of secure two-party computation, electronic cash, cryptocurrencies and blockchain protocols. This makes him one of the foremost creators of crypto in the world. What Makes Algorand Unique? Algorand was invented to speed up transactions and improve efficiency, in response to the slow transaction times of Bitcoin and other blockchains. Algorand is designed so that there are lower transaction fees, as well as no mining (like Bitcoin's energy-intensive process), as it is based on a permissionless pure proof-of-stake (PoS) blockchain protocol.
Long
by BarcinGokboru