Algorand
Algorand longAlgorand broke trough the descending trendline. Asset broke trough the resistance level. Bullish movement to resistance level at 0.93 is possible.
ALGO - Video Top-Down Analysis!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
Here is a detailed update top-down analysis for ALGO.
Which scenario do you think is more likely to happen? and Why?
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🆓Algorand (ALGO) Mar-18 #ALGO $ALGO
ALGO has just successfully tested the $0.7 zone and reversed with a Pipe pattern. In the near future, ALGO is quite potential when it can completely move to the $1.2 zone, but in the short term, ALGO can bear a resistance at the $1 zone so we need to pay attention to this zone.
📈RED PLAN
♻️Condition : If 1-Day closes ABOVE 0.7$ zone
🔴Buy : 0.7
🔴Sell : 0.85 - 1 - 1.2
📉BLUE PLAN
♻️Condition : If 1-Day closes BELOW 0.7$ zone
🔵Sell : 0.7
🔵Buy : 0.6 - 0.5
❓Details
🚫Stoploss for Long : 10%
🚫Stoploss for Short : 5%
📈Red Arrow : Main Direction as RED PLAN
📉Blue Arrow : Back-Up Direction as BLUE PLAN
🟩Green zone : Support zone as BUY section
🟥Red zone : Resistance zone as SELL section
In the chart below, ALGO is approaching a vital dominating levelAlgorond coin price is trading into the falling wedge chart pattern and observing near above the vital support level.
ALGO coin has been underperforming for the past 5 months, therefore crypto lost around 77% of its cost.
Algorand coin price is trading below important moving averages (such as 20, 50, 100 and 200 MA) in terms of the daily price chart. Similarly, price is currently trading well below the Red Moving Lines of EMA Ribbon indicator, which is the biggest sign of weakness for long-term holders.
Recently, Stoch RSI generated a crossover under the oversold area, where D is looking at 23-points, similarly D is looking at 13-points. Bulls can take advantage of this signal. Furthermore, the Average Directional Index is moving higher, which suggests strong momentum for the ALGO coin.
Algorand coin is trading near an important support level, traders should wait for confirmation of a directional trend. If the bulls manage to hold the coin price above $0.68, there could be a breakout of the descending wedge pattern. On the other hand, ALGO could reach lower levels.
Support level- $0.680 and $0.370
Resistance level- $0.88 and $1.30
Expanding Diagonal for ALGOUSDLeading Expanding Diagonal (3-3-3-3-3)
Rules:
Wave 1 shorter than Wave 3
Wave 3 shorter than Wave 5 (sets 7$+ target for Wave 5)
Wave 4 must overlap into Wave 1 territory
Can overshoot or undershoot the top trendline
Additional comments:
Local bottoms seem to be equally spaced according to time cycles;
Stochastic RSI is deeply oversold on all major timeframes (Daily, 3D, Weekly and Monthly)
It might go lower than current price but a major move to the upside should be starting soon
There's also a lot of fundamental bullish news for Algorand in 2022
This chart is for educational purposes only, it's not financial advice
Bullish $ALGO Technicals Supported by Super Bullish Fundamentals$ALGO is in a clear long-term uptrend.
It is now retesting the bottom of the rising channel.
MACD has bullish divergence. MACD is starting to reverse while price continued to slide down on lower volume.
Stochastic in extreme oversold territory.
Algorand's super bullish fundamentals will propel $ALGO to all new time highs.
Once escape velocity is achieved to all new time highs, $ALGO will then enter price discovery mode and break out of the rising channel for a parabolic move.
Major fundamental catalysts to provide the rocket fuel are:
1. Multitude of DeFi projects launching in coming months with no end in sight - amplified by incentive reward programs to bootstrap the DeFi ecosystem - TVL boom
2. Staci Warden as new Algorand Foundation CEO with aggressive marketing and PR strategy
3. Algorand protocol upgrades and TPS boost
4. Multi-chain bridges - Glitter, Applied Blockchain Ethereum London Bridge, C3 Protocol
5. Institutional and enterprise implementations - SkyBridge, NAX, UNLOX, real estate (Vesta Equity, Homium, Lofty AI, QuantmRE, etc)
6. Government national initiatives
ALGO LIKELY MOVE - TO FALL TO $0.61Please support this idea with a LIKE👍 if you find it useful🥳
Not a financial advice🙅🏼♂️
This is a pennant pattern indicating a fall to the lower trendline before a rise to the upper trendline before an upward breakout.
If this should play out, I expect a fall to $0.61 before a move to the upside
What do you think?
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ALGO/BTC (Algorand) Chart Showing Promise on a Logarithmic ScaleBINANCE:ALGOBTC has found support on the 0.5 Fib line and a rising trend line on the logarithmic scale. In this chart, I argue why these two signals are not strong enough and conclude that we should wait longer for a trade setup to emerge.
You can follow this chart here .
I hope you learn something from this video and if you like it, then please leave a like.
If you have questions, then please leave a comment.
Thank you.
ALGOUSDT 3D TA : Support ZoneAccording to the chart, we have reached the important support range again and we expect support in this price range of $ 0.65. We expect the price to rise to the trend line if buyers succeed in supporting in this range. Otherwise the loss becomes more severe with the loss of support. The analysis is updated in case of a fall.
Its not Buy or Sell SIGNAL
DYOR
BY : Mohamad Teriz - @AtonicShark
algo/usdt on strong supportsWe have two strong supports for Algo/Usdt. The price is supported every time it reaches this level. Will this support be lost? Let's see.
This is not financial advice.
Follow me for more updates.
ALGO is at support. This is a good opportunity for buying at support trader. With 1:5 ratio, I believe this is a good swing trade. manage your risk well. #NFA
ALGO shortTotal market:
- BTC at daily resistance, bulls losing momentum. Price has broke triangle on 15 min chart to the down side
Daily:
- Price getting rejected at 20 day EMA & previous structural level
4H:
- Had bearish divergence, price could not break resistance level
1H:
- Price broke uptrend line, retested and has rejected and making move lower
15 min: (entry)
- Price selling off, going to have bb break to the downside
Stop loss: 0.8649
- within previous volatility level above VPVR zone
Take profit: 0.7336
- at strong liquidity zone on daily
* managing trade discretionally
Algorand (ALGO) formed bullish Crab for upto 16.5% moveHi dear friends, hope you are well and welcome to the new trade setup of Algorand (ALGO) with Bitcoin pair.
Previously I shared a long-term trading idea on Algo, which is still in play:
Now on a 4-hourly chart, ALGO has formed a bullish Crab .
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 setup- Green zone = weekly support
- Touching 4H resistance
- EMA crossover imminent
We have to break the monthly open, which has confluence with our resistance zone. If we do, I'll enter a position on the retest.
ALGOThinking ALGO ran The Fib extension gambit here all the way to $3 back in Aug 2021. (luckily some of our members took part in this move as I alerted the buy around $1 I think back in July 1 month prior) since then Algo stays inside 1 brutal correction and I'D say .53c gets tested B4 we can resume the run. But the wick to .67c bottom channel TL does show massive support.
So kinda hard to call here, but if my BTC analysis is correct in projecting BTC double bottom after we finish this B wave then ALGO will likely hit my lower bearish targets. If my BTC analysis is incorrect then likely ALGO has bottomed. Let's keep an eye on this.
ALGO buy zone belowALGO buy zone between $1.0-1.15.
Might see a prior minipump before the dump towards the zone which is a strong support area to be hold.
Lowest risk in crypto market (from Feb to May)Algorand RSI is around oversold and didn't reach similar levels in the past.
Fundamental analysis in addition to the promising technical analysis shows that Algorand gives a great opportunity for the long- and short-term (300% until June, and over 5000% until 2025).
ALGOUSDT 4H Analysis🟢#ALGO/USDT
$ALGO is trading inside descending parallel channel and now it is below the upper line that is the same with resistance zone.
break out from the upper line can increase the price to the resistance zone between $1 and $1.05.
also, it is possible that the price drops to the support zone around $0.77 and shapes a reverse head and shoulders then try to break out from the upper line.
break below the support of $0.75 will drop the price to support zone between $0.7 and $0.65.
⚠ This Analysis will be update
🤵🏻 Analyzed By: AmirHossein
📅 02.26.2022
⚠️ (DYOR)
