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Algo

ALGO/USDTALGO is currently holding a significant support level following a recent correction, showcasing potential for another upward move. Considering the favorable conditions, exploring a long position in this zone seems promising for a ride towards the next two red zone targets. As always, prioritize effective money management practices and incorporate a strategically placed stop loss. Identify your entry point thoughtfully and set a well-defined stop loss. Consider taking profits at the first target and, in the event of a strong closure above the initial target, reassess for a potential re-entry. Alternatively, adjusting your stop loss to safeguard your gains is a prudent strategy. Stay proactive and stay informed! #ALGO #TradingStrategies #Crypto
Long
by Seahawks_
A closer look at the potential of ALGO.People are jumping with joy today as FLARE has made a more than 300% in gains as of late, but when you see what ALGO is about to do, you won't give a second look at FLARE again. Not to put down FLR, I hold a bag myself, but only to use it as a comparison. Just taking a gander at this chart, even the most rudimentary of assessments come to realize really quickly that there is definitely potential here. Even if the cup & handle formation fails, the chart gives you some really great tips about exit and entry points on long, and short positions. Enjoy traders, and always use a stop.
Long
by MetaShackle
2
ALGO/USDT Downward for retesting phase. Keep on eye the demand!💎 ALGO has been drawing considerable attention in the market lately. Currently, ALGO is on a downward trajectory, heading towards the demand area at 0.1550 for a retesting phase. This move follows a significant breakout and subsequent rejection at the Bearish OB area. 💎 If the retest proves to be valid, ALGO needs to bounce back from this demand level to resume its upward movement, probability reattempting to break out of the Bearish OB area, which is the targeted goal. 💎 However, if ALGO fails to rebound during the retesting phase at the 0.1550 demand level, it could signal a negative trend. A failure to maintain this demand level might indicate a shift back to a bearish trend, with the next potential downward target being the support area. 💎 The support area becomes critical for ALGO's trajectory. A successful bounce and recovery above the 0.1550 demand level are necessary to avoid further declines. If ALGO fails to regain and hold above this level, it could lead to a continued downward movement, possibly reaching lower levels previously seen.
by MyCryptoParadise_Nathan
An update t my Algorand Chart We can see as is common with most cryptos, the Algo went back below the purple trendline after its 1st initial breach above the purple channel. Now that we have broken above again and retested that line as support probability increases significantly for it to validate the breakout this time around. So I have posted an updated chart with the measured move line adjusted accOrdinary to reflect the new expected price target should it validate here. We must remember that often times price will send a few candles above a neckline and then dip back down below anywhere from 1-4 times before the real breakout so there is still a mild probability it could once again correct back below the trendline before it actually validates the breakout. Being that it already has once before though, and that there’s lots of room left to climb on the stochrsi indicator there is relatively good probability that the breakout validation can be confirmed on the current breach above the channel. *not financial advice*
COINBASE:ALGOUSD
by DrDovetail
2
ALGO: Resistance BreakoutTrade setup : Price is in an Uptrend. Following a bullish breakout from a Channel Down pattern, price has also broken above $0.20 resistance to signal continuation of uptrend, with + 20% upside potential to $0.24. Stop Loss (SL) at $0.18, just below prior swing low. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55). Support and Resistance : Nearest Support Zone is $0.17 (previous resistance), then $0.15. The nearest Resistance Zone is $0.20, which it broke, then $0.24.
Long
by altFINS
1
ALGO - STILL BULLISH: NOW forming Elliot Wave 2-3📉Hi Traders, Investors and Speculators of Charts📈 If you've been following, you'll know I'm fundamentally bullish on Algorand. And it gets better than fundamentals - we are currently witnessing a similar fractal that played out on ALGO during early days - the Elliot Wave Fractal. From the macro perspective, we can see that Algorand has a long way to go before reclaiming previous highs, unlike many other altcoins. It's hard to find an altcoin with good fundamentals tat still has 2000% upside potential, away from previous all time high. If you found this content helpful, please remember to hit like and subscribe and never miss a moment in the markets. _______________________ 📢Follow us here on TradingView for daily updates📢 👍Hit like & Follow 👍 CryptoCheck BINANCE:ALGOUSDT
BINANCE:ALGOUSDLong
by CryptoCheck-
5
ALGO - Don't Sleep on THIS ALTCOIN 💎Hi Traders, Investors and Speculators of Charts📈📉 Welcome to 2024🥂🥳 And with the new year, we've been focusing on altcoins that have great fundamentals AND great upside potential. Algorand is a decentralized network built to solve the Blockchain Trilemma of achieving speed, security, and decentralization simultaneously. Launched in June 2019 by computer scientist and MIT professor Silvio Micali, Algorand is a permission less, open-source blockchain network upon which anyone can build. Algorand is designed to be a payments-focused network with rapid transactions and a strong focus on achieving near-instant finality — that means processing over 1,000 transactions per second (TPS) and achieving transaction finality in less than five seconds. Algorand uses a Proof-of-Stake (PoS) consensus mechanism, and distributes validator rewards to all holders of its native ALGO cryptocurrency. Through strong throughput capacity and equitable community incentivization, Algorand is capable of managing the high-throughput requirements of widespread global usage and a variety of use cases. As a public smart contract blockchain that relies on staking, Algorand is currently capable of hosting decentralized application (dApp) development and providing scalability. Rising gas fees on Ethereum have led many dApp developers and decentralized finance (DeFi) traders to look for alternative blockchain solutions. Some have turned to Algorand as an Ethereum-alternative for dApp development and DeFi applications. Algorand is still "in prison", but holding the 50d Moving Averages is the first step towards a new bullish cycle. Look at all of this upside potential: If you found this content helpful, please remember to hit like and subscribe and never miss a moment in the markets. _______________________ 📢Follow us here on TradingView for daily updates📢 👍Hit like & Follow 👍 CryptoCheck
Long
by CryptoCheck-
ALGO: Falling Wedge BreakoutTrade setup : Bullish breakout from a Channel Down pattern was confirmed by a break above $0.17 key level. Price could swing up +20% to $0.20 near term. Stop Loss at $0.15 (just below the next support). Patterns : Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Most traders should wait for a completed pattern with a breakout and then place a BUY order. Trend : Neutral on Medium-Term basis and Uptrend on Short- and Long-Term basis. Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55). Support and Resistance : Nearest Support Zone is $0.17 (previous resistance), then $0.15. The nearest Resistance Zone is $0.20, then $0.24.
Long
by altFINS
ALGO is setting up for a MASSIVE move!Why everyone is distracted with the Bitcoin ETF, that's been a complete disappointment so far, and XRP, which has been a perpetual disappointment for quite some time now, ALGO is setting up for a move that's going to leave cheap prices in the rear view mirror! ALGO'S structure has the potential to make incredible gains, in a short amount of time. Here's a couple potential paths that could come to fruition in the coming weeks. ALGO is my 2nd largest, long-term holding, and I'll be adding to it as opportunity presents itself in the coming days/weeks. ALGO is gonna fly! Good luck! And always use a stop.
Long
by MetaShackle
ALGO has formed an almost perfect cup & handle on the daily.ALGO (Algorand) has been forming a rather impressive cup & handle formation on the daily chart since mid April 2023. The handle looks to be nearly complete, and could breakout any day now. Anyone who knows Algorand is well aware of how quickly it can move when the volume is there. Either way, I'm a long-term investor who's already well into the green, and will be holding for many years to come. Good luck, and always use a stop.
Long
by MetaShackle
ALGO: Falling Wedge BreakoutTrade setup : Bullish breakout from a Channel Down pattern, which was confirmed by a break above $0.17 key level as well. Price could swing up +20% to $0.20 near term. Stop Loss at $0.16 (just below the breakout level). Patterns : Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Most traders should wait for a completed pattern with a breakout and then place a BUY order. Trend : Neutral on Short-Term basis, Downtrend on Medium-Term basis and Uptrend on Long-Term basis. Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI < 45 (Bearish). Support and Resistance : Nearest Support Zone is $0.17, then $0.15. The nearest Resistance Zone is $0.24, then $0.30.
Long
by altFINS
ALGO target 0.28 & 0.451D time frame - ALGO is retesting the structural support around 0.135~0.152, that is also the 0.618 Fibonacci Retracement, so here is a good timing to set up a perpetual trading plan with great RR. Also, we can easily see a strong support on higher time frame around 0.08~0.10, this zone is a sweet price to accumulate spot if ALGO come back again in future. Therefore, I provide two trading plans for perpetual and spot. - Perpetual: TP: 0.28 / 0.44 SL: 0.135 Spot: TP: 0.45 / 0.68 SL: 0.07
Long
by EthanTW
ALGO: Approaching SupportTrade setup : Price got rejected at $0.24 resistance and pulled back to $0.17 support zone, which could be a swing trade entry in Uptrend, with upside potential to $0.24. Stop Loss (SL) level at $0.155 (just below the prior swing low). Trend : Downtrend on Short-Term basis, Neutral on Medium-Term basis and Uptrend on Long-Term basis. Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45). Support and Resistance : Nearest Support Zone is $0.17, then $0.15. The nearest Resistance Zone is $0.24, then $0.30.
Long
by altFINS