Algo relief rally and drop in JanuaryBINANCE:ALGOUSDT
Just a local picture for January
Possible Targets and explanation idea
➡️After hype around World Cup championship we dropped down and found the main support zone.
➡️I think this is the potential bottom for now for $ALGO
➡️Local trade can be looks like this on 12H timeframe
➡️According Crypto4light Direction indicator whales accumulated Algo all December. Now we see clear signal to pump on both indicators
➡️Local stop losses now over 0.23 cents so we have a little bit range to grab this tiny stop losses and go back test 0.17 like support
➡️ In February we will see price over 0.30 and maybe 0.50 for ALGO. More clear higher timeframe global chart ill post in another idea
➡️With path I showed potential direction for January local time period trades
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Algolong
Algorand Price Analysis. Setup for LongLet's take a look in details globally and locally for BINANCE:ALGOUSDT.P
Why do i think the chart now looks more bullish than bearish! Potential targets for long and continuation!
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ALGO target 0.41D time frame
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We are currently gaining almos 60% profit from ALGO since last entry on Jan 27, as below.
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Furthermore, ALGO is breaking above the neckline of this potential head and shoulders structure, which means here is an opportunity to add positions or set up a new trading plan.
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TP: 0.4 / 0.45
SL: 0.215
ALGO LONG ANALYZE 1H Hello dear traders
In ALGO currency, there is a suitable area for buying in the 1-hour time frame
Pay attention that the price must reach the specified area and if the price rises at first and forms a new ceiling, this analysis will lose its credibility.
The profit limit is specified in the chart and include the loss limit according to the transaction with your own style.
I hope it was useful for you
Be happy and profitable.
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.
Algorand Price Surges Above Exponential Moving Average 200!
Algorand (ALGO) has soared above its Exponential Moving Average 200 (EMA200), hinting at a remarkably bullish run!
For those of you who relish the excitement of trading in fast-paced markets, this exhilarating development presents an unmissable chance to capitalize on the strong upward momentum of ALGO. The fact that it has surged beyond its EMA200 signifies a significant shift in its overall trend, indicating the potential for substantial gains in the near future.
Now, you might be wondering, "Why should I long Algorand?" Well, the reasons to do so are plentiful. The recent breakthrough above EMA200 showcases the cryptocurrency's resilience and solidifies its position as a growing force in the market. Furthermore, Algorand's cutting-edge blockchain technology, combined with its ability to handle high transaction volumes with minimal fees and superb scalability, has garnered widespread attention and acclaim within the crypto community. It is worth noting that Algorand's dedicated team of visionaries and prominent partnerships add further credibility and potential to this digital asset.
So, fellow traders, let's seize this exhilarating opportunity and consider initiating a long position on Algorand (ALGO) today. With the price soaring above its EMA200, it's an exciting moment to ride the upward wave and potentially secure significant profits. Don't miss out on the action!
As we navigate the fast-paced world of cryptocurrency trading, remember to stay informed, set stop-loss orders for risk management, and always trade responsibly. May each trade bring you adventure and success!
To embark on this exciting journey with Algorand, act now and place your long position. Get ready to ride the waves of profit!
Call-to-Action: Take advantage of Algorand's surge above its EMA200 and seize the opportunity to long ALGO today! Place your trade and enter the thrilling world of potential profit now. Don't delay, act today!
ALGO Yearly RangeBINANCE:ALGOUSDT
Possible Targets and explanation idea
➡️If we take a look on yearly chart we just got a simple range
➡️Top. Bottom at 0.0958. 2 test of equilibrium End of hype
➡️Crashed and formed historical lower low and deviation of range 0.0901
➡️Bullish road to 2 main monthly gaps and euphoria to deviation at the top 3.45$
➡️That time or we will break deviation and going higher or come back in a range again
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ALGUSD Buy TF M30 TP = 0.1444On the 30 minute chart the trend started on June 5 (linear regression channel).
There is a high probability of profit. A possible take profit level is 0.1444
But do not forget about SL = 0.1296
Using a trailing stop is also a good idea!
Please leave your feedback, your opinion. I am very interested in it. Thank you!
Good luck!
Regards, WeBelieveInTrading
ALGO dropped a key supportHi, Friends hope you are well and welcome to the new update on ALGO.
Big wedge and a long-term support:
Algo has formed a big falling wedge on a weekly time frame, however, at the moment ALGO has dropped at a very long-term support of $0.16 and this level is working as a support since Sep 2019.
Oversold on weekly time frame:
Weekly Stochastic is also extremely oversold therefore, if Bitcoin starts small correction move, then ALGO can begin a massive reversal from this support.
Conclusion:
If some one wanna buy ALGO here then be very careful and keep an eye on $0.16 support, if it will be broken down then ALGO can drop at the support of wedge. More chances are in favor of a massive rally from this support soon.
ALGO plan for 2023✅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.
We don't need to draw a lot of lines on a charts. Here is weekly timeframe and everything what you should know about Algorand price action for 2023
Possible Targets and explanation idea
➡️Weekly chart. Based on Take profit indicator we traded long time period under fundamental price.
➡️Its a Fib trend extension not a retracement. By this fib from the top we came in exactly to 0.618 lvl
➡️First block its a Monthly gap. Second block its a weekly gap which we most likely come to trade
➡️Take profit line now at 1.13 and exit line over than 0 level 1.27
➡️Most likely we can see at least move to 0.23 level by fib then retest buy line and take profit line before 2024/2025 bull run
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ALGOETH - Gains Approaching after small FakeoutAfter a pretty decent 30% profit from the last Short trade we've now got ourselves what looks like a profitable Long trade too! We've had a small fakeout on the bottom edge of this descending channel but the price was quickly restored to within range and now looks to be heading to the upper boundaries!
We should be able to bag at least 10% on this trade, all the way up to around 30% if you're feeling brave, keep your trailing stops up to date with this one!
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Algorand (ALGO) formed bullish Gartley | A good buy opportunityHi dear friends, hope you are well and welcome to the new trade setup of Algorand (ALGO).
Previously we caught more than 53% pump of ALGO as below:
Now a 4-hr time frame, ALGO has formed a bullish Shark pattern for another pump soon.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
Algo pump before World Cup in Qatar?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.
Algo is official partner FIFA, and in next month we will see major football event last 6 years. And its first time we will see World Cup championship in Qatar and in autumn (before it always was in June)
The idea is, hype around Algo and coins like CHZ bring a lot of attention to this coin.
Possible Targets and explanation
➡️Since January step by step big players accumulate ALGO (you can see on Direction indicator)
➡️We trade in -0.27 zone by fib
➡️More than 230 Days in accumulation phase
➡️Got a not strong but first signal to buy on D1 timeframe
➡️Marked first possible target to take profit.
➡️Daily downtrend line retested.
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.
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ALGO... seeing some love? I'm just throwing this out there because ALGO is a very underrated, and undervalued currency.
<₮0.75 is a good stop in general, and I feel as though 0.75 could finally provide some decent support.
ALGO still offers the least expensive, most-secure option of sending crypto from one place to another.
The ALGO blockchain has never crashed. Ever. I don't think any other chains can say the same thing.
🤷♂️ bullish IMO
♠️🤫🐿
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.
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$
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