Algo turning point! Crypto Altcoins
#CryptoWhale100Billion Alt Coin Analysis: Algo
My Analysis shows that Algo has been holding at the .24 cent market for a few days now, filling up bear pockets. Algo has been falling for quite some time from an all-time high at $2.79 and crashed to .24 cents. A lot of sell-off, but this coin has the potential of stake rewards of Algo 5.75%+ interest which will give you more reward of Algo over the longer time of holding it. I can see it moving back to .285 cents and .33 cents.
Indicators show strong resistance using common pass strategies indicators to see cryptocurrency patterns. Rsi giving an Upper trend, Macd crossing over to the higher side of the trend. Candlesticks holding the resistance for over a week.
I am more bullish on Algo to .284-.33 cents.
For bearish to .19 cent.
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Below are some Previous chart links I've written for Reference.
Algorand
HBAR is very close to its ATL. Buying below .04 is a no-brainer.Whether you agree with the tech behind HBAR or not, you have to admit that an entry point here is looking pretty good! ALGO still looks better, but this isn't too bad. It would be very simple to dollar cost average at this level even if the price dropped from this level.
AlgousdtAlgo Formed Falling Wedge In H4 Timeframe( Bulish Reversal Chart Pattern)
Rsi Printed Massive Bulish divergence ( Bulish Divergence In Rsi Is Also Bulish sign)
Now Algo Needs To Break Wedge To The Upside Then We Can Look For Long Entries
Keep In Mind That Algo Will Remain Bearish Till Wedge Upside Breakout
ALGO is looking better than it ever has!This is literally just screaming to be bought. Right now is 1 of only 3 brief periods in ALGO'S history where you could buy at this low of a price. If you buy now then you're buying cheaper than 99% of everyone who's ever bought.
That's called an opportunity, and opportunities like this don't happen very often.
Lead, don't follow!
algo can go upHi, dear traders. how are you ? Today we have a viewpoint to BUY/LONG the ALGO symbol.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
ALGO / USDT technical analysis and price prediction (Binance)Hello,
Today I will take a look at the ALGO / USDT pair on Binance in 4h timeframe. Algorand (ALGO) is today trading at $0.21, and we can see that it is in a downtrend (bearish momentum). According to historic price levels, the expected demand zone is at approximately $0.20. The supply zone is sitting around the price of $0.25. I can see that we are inside a descending trading channel and that we are moving in the direction of a historically very strong demand zone around $0.20. If we hit the price of $0.20, then this is an excellent, almost perfect position for opening a BUY/LONG position (still be careful because of the market conditions, we are still in a bear market). If you will enter trade at the price of $0.20, then you can expect the next targets to be for the short term at $0.25 and later at $0.30. In the case of the Cup and Handle trading pattern, I recommend entering at $0.25 after confirmation, otherwise not. I am expecting a bullish movement for ALGO at the price of $0.20, but just for the short term. Don't forget that we are still in a bear market and there are no signs of a major reversal of the trend. Trend is your friend :) If we break the expected demand zone, we can expect the price to continue falling, and the lowest level for ALGO is around $0.14 from March 2020, but I don't believe this scenario will occur.
Have a fantastic day and make the most of it.
Greetings,
BF
ALGORANDALGORAND POSSIBLE TRADE SETUP
Algo has been forming a BEAR FLAG. It broke out recently and now making a RISING WEDGE on the way to retesting the STL turned into RTL. Both the pattern is BEARISH. Ideal breakout targets are given in the chart.
SL: 0.2308 or little bit over depending on your risk appetite.
Non Financial advise. Trade at your own risk. Do your own research.
Use proper position sizing & take proper entry.
Fib Level of 0.382 becomes the Point of Control... Perhaps you think the worst of the bear market is over. If so, ALGO may be trading at values that are quite attractive for the long term holder or new to the ALGO coin. From the previous high in November around 45 cents, trading at 23 cents is almost 50% off. Drawing the fib retracement alongside the volume profile for ALGO going back to May of 2021, shows an alignment of 0.382 fib level with the Point of Control.