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...
♠️🤫🐿
Algousd
ALGO/USDT - Potential 123% SetupHello Traders!
After finishing the downward movement, the price of ALGO returned to the zone of interest of buyers $0.695 - $0.890.
It is possible to consider medium-term purchases in the range of $0.695 - $0.800. Price movement under $0.58 will be a trigger for closing the position.
For a short-term trade it is better to wait for a breakdown of the downtrend, the price exit beyond the price level of $1.07 and MA100 on a daily timeframe.
Targets will be price levels of $1.46 and $1.79
Good luck and watch out for the market
P.S. This is an educational analysis that shall not be considered financial advice
💡Don't miss the great buy opportunity in ALGOUSDTTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.7804).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ALGOUSDT is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 67.
Take Profits:
TP1= @ 0.8885
TP2= @ 1.0043
TP3= @ 1.1023
TP4= @ 1.2046
TP5= @ 1.3170
SL= Break below S2
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💡Don't miss the great buy opportunity in ALGOUSDTTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.7804).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ALGOUSDT is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 66.
Take Profits:
TP1= @ 0.8885
TP2= @ 1.0043
TP3= @ 1.1023
TP4= @ 1.2046
TP5= @ 1.3170
SL= Break below S2
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. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
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ForecastCity English Support Team ❤️
Expanding Diagonal for ALGOUSDLeading Expanding Diagonal (3-3-3-3-3)
Rules:
Wave 1 shorter than Wave 3
Wave 3 shorter than Wave 5 (sets 7$+ 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
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?
Share your opinion in the comment section✍️
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ALGOUSD CLOSE TO BREAKOUTALGOUSD is finishing bullish wedge pattern, we already bounced two times and closing in on breaking it upwards. We should look for a retracement back to 50% fib.
Aroon: On a daily timeframe it is already giving us an entry for a bullish trade.
Macd: is showing bullish momentum gain but we need to wait for a signal line to cross.
Bollinger band: We already bounced off of a bottom of a Bollinger band which indicates we should go long.
Entry: 0.77
Invalidation: 0.600
Target: 1.66
Ratio: 1:5
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
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.
💡Don't miss the great buy opportunity in ALGOUSDTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.8073).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ALGOUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 59.
Take Profits:
TP1= @ 0.8483
TP2= @ 0.8822
TP3= @ 0.9303
TP4= @ 0.9673
TP5= @ 1.0086
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
💡Don't miss the great buy opportunity in ALGOUSDTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.8073).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ALGOUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 58.
Take Profits:
TP1= @ 0.8483
TP2= @ 0.8822
TP3= @ 0.9303
TP4= @ 0.9673
TP5= @ 1.0086
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex / Crypto trader ?
Now, It's your turn !
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️