ALGORAND Long Limit IdeasALGORAND, one of my top pick, it's clearly going to retest 0.13 level. From there i expect a powerful bull run till 0.25 usd, around 2x from the entry. Good spot and leverage opportunity
Algorandanalysis
Algorand ALGO price is far behind the cryptomarket. When growth?We are often asked to publish an idea for ALGOUSDT, you asked - we did.
We look at the chart and see that the ALGO price is still in a downward trend.
The only good news is that as of right now, ALGOUSD hasn't updated its lows in a month.
Now the ALGOUSDT price has moved into consolidation, so we can hope that the stage of accumulating long positions has begun, and this stage can last for many weeks.
As of now, we would definitely not risk buying ALGO with our own funds, as we do not see the strength of buyers and the "desire" for prices to rise.
The first ray of hope for ALGO holders may be a breakout of the trend line and a price fix above $0.15. In this case, there will be a chance for continued growth to $0.20 and $0.26
In the long term, we would like to see the ALGOUSDT price reach a strong mirror zone of $0.70-0.80, but we do not know when this will happen and what should provoke such a price increase.
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Algorand - A long term opportunity? Algorand - A long term opportunity?
- Oversold RSI on both BTC and USD pair
- Clear bounces off lower channels
- 96%+ correction to date on USD pair and 93%
correction on BTC pair
A long term 18 - 24 month position could be considered here, I'm not recommending it but the chart looks like its getting exhaustive. I'm stacking sats but might try for a small 1% trade bounce here or a re-bounce off channel lows.
Please ensure you review my Total 2 and Total 3 Altcoins outlook charts in prior tweets and posts which project that a secular shift to a bull market will be more probable between Dec 2023 - March 2024. A much improved outcome would be probable around this date forward.
ALGO is looking better than it ever has!This is literally just screaming to be bought. Right now is 1 of only 3 brief periods in ALGO'S history where you could buy at this low of a price. If you buy now then you're buying cheaper than 99% of everyone who's ever bought.
That's called an opportunity, and opportunities like this don't happen very often.
Lead, don't follow!
Algorand shortAlgorand broke trough off the lower boundary of ascending channel. Bearish movement to support level at 0.32 is expected to happen.
ALGO we tested 0.38 FibBINANCE:ALGOUSDT
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Thank you.
Possible Targets
➡️We tested 0.38 Fib global chart since 2019. (1.39$)
➡️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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ALGOUSD Fibonacci CircleI have drawn up some Fib circle describing a bullish move to a spot that has been a previous trend rejection point (red ovals)
Price comparison points can be drawn between the green ovals
Major trendline in bold white line
The Cup and Handle pattern is an addition that supports the bull idea
Confirmed #Algorand goes longAfter weeks of consolidation and a confirmation of
a breakout on the top trend line in a symmetrical
triangle... Along with upwards momentum shown
below on the MACD I believe the next week will be
very bullish for $ALGO. Even a retest of 2.50$ ATH
price level is within reason.
Additionally "Governance" on Algorand's blockchain
currently has 1.88 billion $ALGO essentially being
locked away from the circulating supply for high
rewards until the New Year.
If $BTC stays the course or even falls a bit in price
$AGLO will be making some drastic moves. First
profit level I anticipate is 2.10 then a sharp move
upwards to 2.40 followed by a retest of the 2.5ATH
Getting in under 2$ mark will make for some nice
profits in the short term and in the long term the
staking and governance rewards will have many
traders coming back as return customers on this
blue chip alt.
-Cheers!
Algorand has been the worst performer 3 years in a rowI had to leave Shib out for obvious reasons.
Doge coins have absolutely excelled this cycle. Should the bullrun end sooner than expected, Algorand would develop a really bad reputation and a stigma that could be hard to change jeopardizing any future potential growth it may have in the community. Ripple made that mistake by overselling its tokens so severely and for so long. Needless to say, Naga of all shitcoins, is now performing better than Algo. XRP always catches up to Algo and has displayed better performance. What's the matter Algorand Inc and Algorand Foundation?
This entire irrational returns have me wondering, is Algorand competing with Bitcoin, Ethereum and exchanges? Is there a cult in crypto and Algorand the outsider? Or is Algorand a scam?
Maybe the market is still too immature and we haven't experienced a true dotcom bubble event.
Maybe regulation will change the current situation from 2022 onwards.
Maybe Silvio Micali's vision is contrary to what the market wants and is inspired by.
Maybe Algorand pissed someone off.
Maybe Algorand belongs on Nasdaq and not in the crypto market.
Maybe Altseason hasn't really started when analyzing Total2 Market and Bitcoin dominance.
Maybe Algorand is the next BNB and we're too early.
The list of possible conclusions goes on.
But it is concerning to witness.
ALGO 1D Watch, read, comment!The last time we analyzed the Algousdt pair was back in February, but if you look at its performance and read the description...
you'll see quite a precise realization of the idea.
Today let's refresh our thoughts a little, after all, it's been half a year)
In recent days, the Algousd chart has recorded abnormally high trading volumes. Importantly, these volumes were recorded on the break-down of all the highs of 2021, which is a strong bullish signal . If the price does not break and fixation below $1.84-1.95 today/tomorrow, the buyers will confirm their strength and serious intentions to continue rising. The growth itself in such situation can continue, at least till $3.50 for the white scenario.
Or maybe such a rush around Algo and a burst of trading volumes was due to some strong news? Please, share your thoughts in the comments , you know we don't read the news much and don't base our analysis on it)
Because if it's a banal news dump, the price of Algorand token may go down even faster than it went up. A price fixation below $1.84 will show the green light for the sellers, who can easily bring the price of Algousdt down to $1.10 to begin with.
We considered many possible scenarios, but we pictured two most likely ones: white and blue! What's interesting, the end goal in both scenarios is around $8.60, though the buyers and sellers will have to overcome different routes and tests to reach the goal)
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AlgorandOne more concurent of Polkadot, Solana and Luna.
What Is Algorand (ALGO)?
Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are secure, scalable and efficient, all critical properties for effective applications in the real world. Algorand will support computations that require reliable performance guarantees to create new forms of trust.
The Algorand mainnet became live in June 2019, and was able to handle almost 1 million transactions per day as of December 2020.
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Trading parts :
- Buy 0.98$ - 0.95$ ( Small Buy )
- Rebuy 0.85$ ( Medium Buy)
- Rebuy 0.70$ ( Full Buy )
Stop Loss : 0.65$
TP : 1.8$ ( Last ATH for now )
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Follow TheKing Moves and stay safe!
Happy Tr4Ding !
Algorand looking for a Green FridayThis is the 1 hr chart & as you see here we are coming off a nice Bull run since the 22nd. Using the Fib Retracement tool, it indicates we may see some big movement coming. Typically what happens once you hit the .618 line it's followed by a nice Bullish push in this case upwards of .90+ as we move through Friday morning.
We are also in a wedge pattern as we have already completed 4 out of the 5 Elliott wave points, so the next time we cross over a resistance it should indicate which direction we are headed.
We very well could hit a bearish reversal & be on our way back down to .79 & see a bit of consolidation.
