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ALGOBULLUSD trade ideas

Is $ALGO Due? Here are some possibilitiesHello everyone thank you for stopping by! As ETH breaks ATH once again and bitcoin dominance continues to plummet, a lot are starting to question if a genuine bull alt season is brewing?? Algo seems ready for a massive breakout soon! I Will be entering again around $1.20 - $1.00 currently at $1.28. Looking for 1.80 - 2.50 in the future! Macd and SQZ mom indicator also seem due for a nice green hill! Algo also seems to have lots of resistance against recent BTC dumps, for the most part algo has remained pretty stable compared to other #shitcoins.. The time to enter will be soon be prepared and set market orders! Appreciate all feedback pretty new to TA!
BINANCEUS:ALGOUSD
by nmunoz0420
ALGO - Bullish Long Term, Bearish Short TermHey guys, just an update on the technical analysis of Algorand on the Daily Logarithmic Chart. As you can see we are still travelling in the ascending channel (known to break to the downside, more so than upside), and could also be forming a larger ABC correction to complete wave 4, however, if wave 4 has already been completed (back near the first drop as shown on chart), we can expect a bounce off the 200 day EMA to complete the smaller time frame ABC correction, this in turn will also form an ascending triangle (speculating that it will bounce off the 200day EMA) resulting in more bullish momentum. Overall we will see a bounce for the final run up to our resistance levels for a wave 5 leg bullish move, targets for wave 5 are shown by the blue horizontal lines. I believe we will see a $3 Algorand, however the max out point for a wave 5 move in this bullish trend up would see a $5 Algorand. Just looking for some advice from those who have Algorand wallets and are seeking better staking values. I have recently been playing around with the wallet and transferred 5000 to test the waters. My thoughts are to compound the stakes earlier than what exchanges are offering to overall end up with more Algorand by years end. I have found a formula which calculates when to reinvest stakes back into wallet for optimum compounding which looks like this: n = sqrt(1.0299 * k - 0.0829) * (r/0.1) * (-100f + 1.5) I had placed a timer on Algorand and calculated the APY = r = 5.84% (9min interval stake which i then divided into minutes in a year and then divided by principal to get rate) k = Principal = 5000 f = fees = 0.001 I then placed all the values into the formula and got; n = 58.67 investment opportunities in a year which; 365/n = 6.22 days, which is best time to reinvest my rewards without losing out on fees however, when comparing this to what exchanges are offering i am noticing a gap which says Algorand wallet returns less than exchanges. Can anyone help, or has the exchanges just inflated their return rates?? Is it better just to leave on exchanges? Any help would be much appreciated :) I am going to wait a full day and recheck the stake interest to make sure it is 5.84%, because i have heard it should be more... Anyway, hope you guys enjoyed the technical analysis. Thanks
BINANCE:ALGOUSD
by dp4379
ALGO found resistance at $1.20. Ready to take off?Even with the pummeling BTC gave ALGO yesterday and today, after it paused at each ellipse boundary and ultimately crashed through, it has held the bottom of that red ellipse. I had put a tentative buy target of $1.1950, just above the lower boundary of the red ellipse, in case it fell that far. As this recent dip was underway, and it started falling towards that lower boundary, I did put in a limit order at $1.20 that hit. I should have trusted my $1.195, as that would have hit as well. I used the same strategy for BTC using an ellipse I had identified for the BTC-USD pair, and filled a limit order @ $53,400. After having spent a little time with this ellipse technique, I will say that it has give me a bit more confidence that I have some idea where price might be headed in the near future, and also during big-ish drops, where the potential resistance levels are, with what seems to me to be more precision than just trend lines. YMMV. Most people who do TA would probably have recommended that I wait for ALGO to confirm the test of resistance, and wait for confirmation of reversal before buying. I’m still a bit impulsive, so I made the assumption of a bounce and acted accordingly. There is nothing to say that we won’t see another big drop below the resistance of the ellipses I’ve drawn, and if that happens, the fall could be quite far, so I took a bit of a risk there. But my hope is that ALGO finds its way above the bottom of that green ellipse I’ve drawn, as it would provide a nice run back up to/past ATH. Otherwise, we may find it using that ellipse as resistance. So, in sum, I think ellipses have proven so far to me to be a useful way to look at a coin’s chart, but they definitely need to be used alongside all of the other traditional TA tools to make informed decisions. *not financial advice
KRAKEN:ALGOUSDLong
by PFunk420
Stairway to Heaven... Hell... or Purgatory $algoThis set up goes all the way back to lowest point of Algo on Nov. 4, 2020 following the previous peak in Aug. 2020. Notice the trend since Feb. 12th peak at 1.8585. The dips occur at the cross of the 3/1 (red ). The peaks occur at the cross of the 2/1 (yellow). If the trend continues I see 3 possible scenarios to play out: 1. Algo breaks out in a big way when the 2/1 crosses the previous high of $1.8585. That has the look of a cup and handle. (Stairway to Heaven) 2. Rejection at $1.8585 with a retrace to the 3/1 line where it finds support. (Purgatory) 3. Rejection at $1.8585 with a retrace to the 3/1 line. Support lost and we enter a bear market. (Hell) I don't trade. I HODL. Not investment advice. Please share your thoughts or predictions.
COINBASE:ALGOUSDLong
by bmadden
3
$ALGO correction coming to an END.We wicked down and tapped the trend and 0.786 fib perfectly this morning and it may signify the end of the correction for ALGO and all of crypto really. I think we may get another tab of the trend line & 0.786 fib, forming a double bottom on the lower time frames before a slingshot back up. Should we break the trend line and close below, we have support at the grey box & the $1.00 psychological level. ALWAYS ADAPT & CONSIDER ALL POSSIBILITIES.
COINBASE:ALGOUSDLong
by benjamintrades
1
Another reason to be bullish on ALGO for the long term!We have formed this ascending triangle on the daily logarithmic chart which is a bullish sign for ALGO. We are still in either the 3rd or 5th Leg on the Macro trend for ALGO which is super bullish long term, however due to the recent pullback on the smaller time frame we may see one more dip to the downside completing an ABC correction wave. Support would form near the bottom of the blue channel at the $1.20 mark in my opinion. Overall Bullish for ALGO, and enjoying the staking rewards of this bumpy ascent.
BINANCE:ALGOUSD
by dp4379
THE GOLDEN NFT COIN ALGO CAN BECOME NO 1 NFT COIN - HUGE EXPECTIHello trading friends, Know that Algo can go above all our expecting targets, we don't just change our profile picture for this coin, there are huge NFT NEWS coming, we did talk also with the team of ALGO, seems great updates on the way. we expect also depending on more things a great increase for the next coming time. # its possible that ALGO can become the NO 1 Worldwide NFT coin with a great CEO and team. i expect we can see soon a huge breakout on ALGO for the real moon target. Our 2.50 target can be only the start # we expect this are only the dip buys before we will enter to above 2 usd + with whale trend. Discipline is the key to success - Take profit - Learn from your mistakes and never give up! The reason 1 that 90% of traders lose, not because they can't trade, but because they trade emotionally. if this appeals to you then learn yourself first before starting with trading. #Always do your own research don't follow us or someone else blindly * this is not an advice ---> Have a great day
KRAKEN:ALGOUSDLong
by watchtrend
6