Algo: Breaking Back in the ChannelHere's a trade set-up for this gem! Not Financial Advice... CHEERS!Longby Agent_Bambi1
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 Longby PFunk4202
Ideal entry for #Algo. IMO #technicalanalysisBeautiful entry point for going long on AlgoLongby burkeatk5
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. Longby bmadden336
Follow up on ALGOUSDAlgorand is showing a nice bounce and clean rejection off of the support shown in my previous post. Just an update not financial advice. Longby tradecave555
$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.Longby benjamintrades119
ALGOUSD Possible Bullish EntryBased on the two blue ascending trend lines i have drawn, we seem to be closing in on a strong area of support for Algorand.Longby tradecave2
ALGO Is Oversold IMOBased on a long-term trend line I think it's oversold. This is just my opinion and not financial advice =)Longby aahmc6
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. by dp43794
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 dayLongby watchtrend6617
ALGO Drop Holds TrendlineHrm. Identifying range values for accumulation but otherwise chillin on this one. Need more time.by HaYoo_Market_Analysis3
ALGO.X: Possible Cup-and-Handle formingAlgo has all we need for a currency. It worth more than a dollar already but should worth 5 times more. There is going to be a little dip in the short term but long term, Algo will worth 5 dollars. Watch for this handle forming within the next month, and then there is the moon. Longby MarkitMavenUpdated 6
Algorand sleeping GiantLooking to break the $1.85ish point for a measured move toward $2.50Longby MrBigBounce3
PUMPS AND DUMPSIs every pump followed by a dump? IDK but tell me what you think. Not financial advice =)Longby aahmc113
History doesn't repeat, but it rhymesA little Saturday afternoon Hopium. The last 2 cycles for Algorand saw 650% and 730% rises, followed by a 70% and 55% fall. If we take both of these cycles and extrapolate – we're looking at a $6.40 price target near the end of June with a likely correction trough July down to $2.55 after. Just gotta zoom out sometimes.by spiritedBear895625523
ALGO taking offALGO had pushed up into the larger ellipse shown. If the current daily candle closes above that lower boundary, I expect either a parabolic run, or a bounce up the bigger ellipse. Could also see it drop under the bigger ellipse and bounce between it’s lower border and the ellipse drawn below it. Longby PFunk4201
Algo ATH Break threw soon.Algo have been breaking all resistant's. Almost breaking the last one. Coin have a 6%-10% stake on dif exchanges. Gain Algo while holding. Continue to monitor this coin. Follow me for daily analysis.by CryptoWhale100BillionUpdated 335
Algo: With a MicroscopeJust an update on a previous idea... seems be be playing out so, I would personal like to set longs with tight stop losses. Not Financial Advice... Cheers!Longby Agent_Bambi5