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ALGOUSDT

ALGO: Overbought at ResistanceAlgorand (ALGO) technical analysis: Trade setup : After getting rejected at $0.15 resistance a few times in November, price has finally broken above it to signal continuation of uptrend with upside potential to $0.24. However, price is now very overbought (RSI ~ 80!), hence, near-term, we’re likely to see it pause here on some profit taking. Pullbacks to $0.18 area could be swing trade entry opportunities. Previously, price broke above above 200-day moving average, which confirmed a bullish trend reversal to an Uptrend. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish but extremely overbought. (MACD Line is above MACD Signal Line). RSI is bullish (> 55) but extremely overbought (> 80) which could imply that price could briefly pause or pull back if it reaches Resistance. Support and Resistance : Nearest Support Zone is $0.15 (previous resistance), then $0.11. The nearest Resistance Zone is $0.18, which it broke, then $0.24.
Long
by altFINS
ALGO/USDT Break the key supply area. Bullish Momentum for ALGO ?💎 ALGO has been a standout in the market, recently achieving a notable breakthrough in a key supply area. It's now undergoing a retesting phase in the Lower Time Frame (LTF), setting the stage for potential upward movement. If successful post-retest, ALGO probability may move towards our targeted strong resistance area. 💎 However, if ALGO returns to the demand area, which previously acted as a supply zone, it will be crucial for it to demonstrate a strong bounce. This is necessary to mitigate the risk of a false breakout. 💎Failure to rebound and closure below the demand level could signal a false breakout, potentially reversing ALGO's trajectory. In such a scenario, ALGO might shift towards a downward trend, moving towards the next lower target, the support area.
by MyCryptoParadise
ALGO/USDT Looking Good with Recent Bull Rally |👀 What's Next? 💎 Paradisers, shift your attention to ALGOUSDT, as it presents a notable trading setup in the demand zone, reinforced by a recent Market Structure Shift (MSS). This scenario suggests a substantial chance for a bullish trend. 💎 On analyzing ALGO's pattern, Algorand has a consistent record of breaking above its descending trendline, a harbinger of upward trends. It is currently targeting a key Bearish Order Block (OB) challenge, with continued momentum above the EMA100 indicating potential supply targets at $0.23 and $0.28. 💎 However, given the ever-changing nature of the crypto market, ALGO traders need to be equipped for different eventualities. Should the anticipated bullish surge not materialize, pivoting to a rebound strategy from the support level at $0.1325 will be crucial. 💎 A decline below this support level would call for a revision in strategy, highlighting the need to reassess the bullish stance and modify trading approaches to suit the evolving market context. 💎 Stay focused and tactically astute, Paradisers. Your ParadiseTeam is committed to providing you with comprehensive analysis and strategic guidance, helping you make informed decisions in these fluctuating market conditions.
Long
by MyCryptoParadise_Simon
1
ALGO: Resistance BreakoutAlgorand (ALGO) technical analysis: Trade setup : After getting rejected at $0.15 resistance a few times in November, price has finally broken above it to signal continuation of uptrend with upside potential to $0.18 near-term. Previously, price broke above above 200-day moving average, which confirmed a bullish trend reversal to an Uptrend. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish ( MACD Line is above MACD Signal Line and RSI is above 55). Support and Resistance : Nearest Support Zone is $0.15 (previous resistance), then $0.11. The nearest Resistance Zone is $0.18, then $0.24.
Long
by altFINS
ALGO: Resistance BreakoutAlgorand (ALGO) technical analysis: Trade setup : After getting rejected at $0.15 resistance a few times in November, price has finally broken above it to signal continuation of uptrend with upside potential to $0.18 near-term. Previously, price broke above above 200-day moving average, which confirmed a bullish trend reversal to an Uptrend. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55). Support and Resistance : Nearest Support Zone is $0.11 (previous resistance), then $0.09. The nearest Resistance Zone is $0.15, which it broke, then $0.18.
Long
by altFINS
1
$ALGO Weekly is so Bullish💣 The Candle will be EpicThe weekly performance of EURONEXT:ALGO appears incredibly bullish, hinting at an impending monumental candlestick. The upward momentum seems poised to create an epic surge in value, reflecting robust market sentiment. This promising trend suggests significant growth potential, fueling anticipation for a remarkable and influential market movement in the near future. Did you find this crypto market analysis helpful? Stay updated about the latest crypto market update. Please continue to follow my analysis and feel free to ask any queries, you may have. I am here to assist you. TradingView: @FarmanBangashh
Long
by frmnCapital
1
ALGO: Pullback in UptrendAlgorand (ALGO) technical analysis: Trade setup : Price broke above above 200-day moving average, which confirmed a bullish trend reversal to an Uptrend. So far it has been rejected at $0.15 resistance. We wait for price to either 1) break above $0.15 to signal continuation of uptrend with upside potential to $0.18 near-term, or 2) pull back near $0.12 support (200-day MA) for a swing entry in Uptrend with upside potential back to $0.14. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral). Support and Resistance : Nearest Support Zone is $0.11 (previous resistance), then $0.09. The nearest Resistance Zone is $0.15, then $0.18.
Long
by altFINS
The key is whether it can rise above 0.1409-0.1718Hello traders! If you "Follow" us, you can always get new information quickly. Please also click “Boost”. Have a good day. ------------------------------------- (ALGOUSDT chart) The key is whether the price can be maintained above 0.1093 and rise above 0.1718. (1W chart) In order to escape from the bottom section, the price must rise above 0.1718 and maintain the price. However, to escape the true bottom zone, it must rise above 0.4253. Only then is it expected to turn into an upward trend and rise. (1D chart) Therefore, the key is whether the price can be maintained by receiving support around 0.1214 and rising above 0.1409. If the price maintains by rising above 0.1409, it appears likely that it will rise quickly to around 0.2462. Otherwise, if it falls below 0.1214 and is resisted, there is a possibility that it may fall to around 0.0954, so you need to think about a response plan. Since a volume profile section has been formed around 0.3091, it is expected that a sharp rise will occur only when it breaks upward around this area. -------------------------------------------------- - The big picture The full-fledged upward trend is expected to begin when the price rises above 29K. This is the section expected to be touched in the next bull market, 81K-95K. -------------------------------------------------- ------------------------------------------- ** All explanations are for reference only and do not guarantee profit or loss in investment. ** Trading volume is displayed as a candle body based on 10EMA. How to display (in order from darkest to darkest) More than 3 times the trading volume of 10EMA > 2.5 times > 2.0 times > 1.25 times > Trading volume below 10EMA ** Even if you know other people’s know-how, it takes a considerable amount of time to make it your own. ** This chart was created using my know-how. ---------------------------------
by readCrypto
1
I'll Go To The Moon (ALGOUSDT)ALGO has been trading in an ascending broadening wedge pattern since 19th October. In that time it has risen by ~67% and is once again trading above all EMA's. The market is shaky at the moment and any drops in BTC are causing bigger drops in alts, but any increase in BTC is not necessarily increasing alts much. In any case, despite the very recent downward pressure ALGO found support around $0.13 and is looking to push up to the top of the channel for a short-term 20% increase. In the mid-term, if a breakout of the channel occurs we can target the $0.20 range. If there is any major downward pressure, ALGO could fall considerably to $0.10, but that seems unlikely for now. It has been a while since ALGO has shown some strength, now that it has the explosion should be big. Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only. Please feel free to leave your comments and thoughts below!
Long
by kush23456
$ALGO in uptrendPatience is going to take your sleep away as you see it slowly moving up. It's already invalidated the downtrend, so even if it goes down a bit, that won't be a concern. Just try not to take a leverage position (not even 2x) as this doesn't have much volume and you will have to suffer in liquidation where the operator can easily play 10-20% up/down with low volume. You can take a Spot entry and leave it as a safe money for later. When I emphasized on patience , I meant that you will see this coin go up or down like 5-30% in a week and that will make a pressure on you to exit with profit. Only those who remain for few months, will be the real hero! Till then Al-goat your ALGO fam! I will be back soon.
Long
by helloanurag
ALGO/USDT A Bullish Horizon Beckons? 👀 🚀 Algo Today analysis💎Paradisers, ALGOUSDT is currently on the radar with its intriguing behavior, having faced rejection at a resistance level but showing signs that it might surge past it in a bullish manner soon. 💎 Historical patterns have shown that when supply zones transform into demand zones, ALGOUSDT tends to ascend. Although it faced a setback at the resistance level of .11563, the momentum seems to be regaining, hinting at a heightened likelihood of breaching the resistance. 💎 Notably, the price has maintained a stance above the previous low, which supports the bullish outlook. Another scenario to consider is a potential bullish push from the demand zone at .10594. However, a drop below this zone could signal a bearish turn. 💎 While some traders, particularly newcomers, may be initiating long positions, it's crucial to maintain a strategic edge and remain alert to all market movements.
Long
by MyCryptoParadise
ALGO's BEAR TRAP: Pump in the Process?Algorand (ALGO) has orchestrated a fascinating move that has caught the attention of traders and investors alike. It appears to have fallen below a key support level, but could this be a cleverly designed bear trap? Many speculate that a pump might be on the horizon. Let's dive into this intriguing market development. 📈💥 The Fall Below Support: ALGO recently breached a key support level, causing some concern among traders. However, in the world of crypto, not everything is as it seems. A Potential Bear Trap: While the drop may look ominous, it has all the hallmarks of a bear trap. This deceptive move is designed to lure in short-sellers who anticipate further decline, only to spring a surprise pump. The Pump in Waiting: ALGO's setup suggests that a pump might be in the making. The bear trap could be the trigger for a swift and substantial price surge. Trading Strategy: Vigilance: Keep a close eye on ALGO's price action, especially in the wake of the support breach. Risk Management: Maintain sound risk management practices to protect your investments in the volatile crypto market. Stay Informed: Stay updated with the latest news and developments related to ALGO that could influence its price movements. Conclusion: The crypto market is filled with clever maneuvers, and ALGO's recent move could be one of them. A bear trap, if that's what it is, often leads to a rapid and powerful reversal. As you navigate these market intricacies, remember that vigilance is key. Be prepared for unexpected turns, and may your trades lead to success. ❗️Get my 3 crypto trading indicators for FREE❗️ Link below🔑
by AlexWhale