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Algorandusd

ALGO (Algorand): Falling Wedge BreakoutTrade setup : Price is in a Downtrend, however, it had a bullish breakout from Falling Wedge pattern, which could signal at least a temporary bullish trend reversal with +22% upside potential to $.17 resistance. Stop Loss at $0.12. This is a riskier trade setup because it’s a trend reversal not a trend continuation setup. It’s against the overall downtrend. Learn to trade breakouts in Lesson 7 and Risk Management in Lesson 9. Patterns : Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order. Learn to trade chart patterns in Lesson 8. Trend : Short-term trend is Up, Medium-term trend is Strong Down and Long-term trend is Strong Down. Momentum : Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70). Support and Resistance : Nearest Support Zone is $0.11, then $0.087. Nearest Resistance Zone is $0.15, then $0.20.
Long
by altFINS
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 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. * Look at my ideas about interesting altcoins in the related section down below ↓ * For more ideas please hit "Like" and "Follow"!
Long
by Crypto4light
3
A closer look at the potential of ALGO.People are jumping with joy today as FLARE has made a more than 300% in gains as of late, but when you see what ALGO is about to do, you won't give a second look at FLARE again. Not to put down FLR, I hold a bag myself, but only to use it as a comparison. Just taking a gander at this chart, even the most rudimentary of assessments come to realize really quickly that there is definitely potential here. Even if the cup & handle formation fails, the chart gives you some really great tips about exit and entry points on long, and short positions. Enjoy traders, and always use a stop.
Long
by MetaShackle
2
ALGO is setting up for a MASSIVE move!Why everyone is distracted with the Bitcoin ETF, that's been a complete disappointment so far, and XRP, which has been a perpetual disappointment for quite some time now, ALGO is setting up for a move that's going to leave cheap prices in the rear view mirror! ALGO'S structure has the potential to make incredible gains, in a short amount of time. Here's a couple potential paths that could come to fruition in the coming weeks. ALGO is my 2nd largest, long-term holding, and I'll be adding to it as opportunity presents itself in the coming days/weeks. ALGO is gonna fly! Good luck! And always use a stop.
Long
by MetaShackle
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 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. --- • Look at my ideas about interesting altcoins in the related section down below ↓ • For more ideas please hit "Like" and "Follow"!
Long
by Crypto4light
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. * Look at my ideas about interesting altcoins in the related section down below ↓ * For more ideas please hit "Like" and "Follow"!
Long
by Crypto4light
6
Algorand (ALGO) path back out?Accountability? Agh. I know that I should remain neutral on this one for ALGO, just to keep a decent batting average 'round these parts ⚾️ for ol' Algorand. Nevertheless, i am STILL bullish on ALGO. This coin is going to have a gigantic breakout in the next several days/week. It's unfortunate that Algorand is still dictated in large part by big b (BTC) calling the shots with market fluctuation. Things are getting better though. Coins and tokens are developing their own internal economy and ecosystems, with these becoming more and more impervious to BTC's ridiculously orchestrated fluctuations. The more people come on board and begin buying these coins, and creating traffic on the networks... the more these coins ( annnnd tokens, for all you defi peeps out there) --the more they all begin to break away from the grasp of BTC's and ETH's market fluctuations. --my love, Monero (XMR) being a prime example of this, especially at the present. ♠️🤫🐿
Long
by FutureAmericanExpat
Algorand (ALGO) we could see a rise...I'm still feeling bullish on Algorand. Have always felt that it is a vastly underrated coin. The ALGO blockchain is one of, if not the most resilient, secure blockchain in the crypto-verse. It has never been breached, and it the transaction times are faster and cheaper than any other currency I've come across with the exception of maybe some very obscure swappable tokens that I'd rather not mention here. C'mon ALGO! ♠️🤫🐿
Long
by FutureAmericanExpat
Algorand (ALGO) count me in!Algorand is a token that I have not covered on this platform too much. It's a shame because ALGO is one of my favorites. In terms of the accessibility, speed, and efficiency- ALGO blockchain is top notch. I mean, heck- if you ever want to send cryptocurrencies anywhere for the cheapest possible price... what do you use? -- ALGO The volume and number of wallets opened/holding ALGO has also steadily increased over the last several months with no real fall off... ♠️🤫🐿
Long
by FutureAmericanExpat
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
COINBASE:ALGOUSDLong
by Stricken
5