Algogrand price has consolidated in the last few days. However, it's currently making the ascending triangle with the bottom trendline which was respected from January till now. We can expect breakout in the next few days - the growing volume is the best confirmation of it. Best entry will be after breaking the current resistance and retest.
(Not a financial advice)
Currently, price osscilates around the level of strong, downside trendline.
We can have ~3 potential setups here:
- Breaking through the upper trendline, bouncing off the resistance at the 1.15 and then going up
- Breaking through the upper trendline and going straight to the 1.42 resistance
- Breaking through the lower trendline and going down (very unlikely to...
of longterm triangle. But current price action is in a rising wedge with bearish divergences. I will not be surprised if it pullbacks and forms a handle for the cup that is already formed.
-4 months descend trend broken, got confirmation
- Up trend started since confirmation day on 23rd Dec
- Price passed fibo 0.236 level with strong and high volume candle
- Target Fibo 0.618 $0.5545
Please read this first !
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your...
