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Algorand

Possible Master Candle On Weekly Chart Significance of Master Candle Master candle signifies a point in time where the price falls into a tight range and both bulls and bears are struggling to move out of this range. The 4 child candles following the master candles represent the state of dilemma between bulls and bears. You may also choose to look at only 3 child candles and ignore the 4th one. As the market is largely driven by crowd psychology, master candle truly symbolizes this crowd behavior and their struggle to move prices up and down. The accuracy of master candle breakout generally ranges between 30-50% Not Financial Advice.
Long
by Nutty_Trader
ALGORAND - Buy Setup Forming!As per one of my ideas, we were waiting for ALGO to approach the green support to look for buy setups. (attached below) Then we looked for a buy setup on H1 (also attached below) NOW WHAT? ALGO is still sitting around the green support and getting stuck in a range in the shape of a big ascending triangle as you can see in red. Before we buy, we want the buyers to prove that they are taking over again. on H4: we will be waiting for ALGO to break (candle close) the ascending triangle upward (projection in purple) preferably after forming a new swing high around it. Meanwhile, until the buy is activated, ALGO can still test the green support before upward. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BINANCE:ALGOUSD
by TheSignalyst
19
ALGO - Big Resistance Ahead, Looking For a BreakoutAs illustrated ALGO needs to break out of the strong resistance formed on top of the triangle, whose formation indicates sellers loosing steam for the moment. This resistance is both a local resistance in the triangle formation and the bottom of the trendline established last month and possible retracement point (the red line). So long as the price remains above its current ascending support I would say that ALGO is in range for a breakout. Let's see what happens!
COINBASE:ALGOUSD
by benjo93
Algorand (ALGOUSDT) - Coin of the WeekSilvio Micali is the founder of Algorand and a professor of computer science at the Massachusetts Institute of Technology. For his important contributions to the theory and practice of secure two-party computation, electronic payments, cryptocurrencies, and blockchain protocols, he received the Turing Award in 2012. As a result, he is considered one of the world's leading cryptographic innovators. In response to the long transaction speeds of Bitcoin and other blockchains, Algorand was created to speed up transactions and enhance efficiency. Because Algorand is built on a permissionless pure proof-of-stake blockchain system, it has very cheap transaction fees and no mining (unlike Bitcoin's energy-intensive operation). From a technical perspective, Algorand was in an uptrend until it hit 1.84 USDT in February of 2021. From that top it’s in a weekly consolidation that will prepare the next up wave. If we look on the smaller timeframes, on the 4h, we see a low created at 0.67 USDT and afterwards an ascending channel marked with blue on the chart. We expect that the price action will continue to make new “low and highs” in this channel until it will break out in one direction. The higher probability now is a down move and then up again, in the channel. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
by financialflagship
15
ALGO - Wait for the BreakoutMany are expecting another crypto flash crash soon and there has been a lot of selling pressure. However, I believe a strong support has been established as buyers continue to accumulate at the $0.80-$0.85 range. Both the range and standard deviation have narrowed which typically precedes a breakout. This tug-of-war between buyers and sellers has created a triangle pattern in which the final breakout will cause a large swing in the market. If we see a breakout above the local descending resistance, we will likely see a retest of around $0.94 If so, I will look for buy setups on the retest. Let's see what happens!
COINBASE:ALGOUSD
by benjo93
ALGO - The One Dollar HillAn inverse Head & Shoulders nearing completion, signaling a likely reversal into a bull run. Wait for a candle to close above the neckline to confirm. $1.00 is a significant psychological position for ALGO and I believe it is important to stay above the One Dollar Hill to see some big gains soon. If the support fails then I imagine ALGO will drop back down to around $0.75 for a retest. Buy: $1.10 Target: $1.35- $1.38 Stop Loss: $1.00 Reward/Risk Ratio: 2.5 Let me know what you think!
COINBASE:ALGOUSD
by benjo93
1