ALGO - when will we moon?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)
Algogrand
ALGO potential bullish setupCurrently, 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 happen)
Algogrand might give %60 Profit in 1 month -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 own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Regards