ALGORAND/ALGO - long opportunityIf you are not in yet then wait for a break out of resistance in case you are more conservative or buy it right now when you are an aggressive beast.
ALGOUSD.P trade ideas
algo idea algo re gain lower bullish trendline macd looking bullish , dont short algo until 1.25 1.26 , with stop loss at 1.28.. this is not a trading advise
ALGO - One More Confirmation To Shoot!ALGO is overall bullish from a long-term perspective and it is currently in the corrective phase.
Since it approaching a demand/support area, we will be looking for buy setups to catch the next impulse.
Before we buy, we want the buyers to prove that they are taking over again.
You don't want to buy a bearish market right?
ALGO formed a channel in blue and broke it upward, then got stuck inside the red channel.
So for the buyers to fully take over, we need to see a break above the previous swing highs.
Our upper red trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above the gray zone.
Meanwhile, until the buy is activated, ALGO would be overall bearish and can still test the green demand/support zone before going up. In this case, we will be looking for new buy setups to form.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
ALGO dropping.ALGO finished the Adam and Eve pattern and retested the neck line. Price is now dropping to the .67 then the .52 resistance areas. In the short term I'm bear on ALGO. In the long term, after this cycle completes, I'll be holding until a price in the $5-10 range while collecting an APY.
In my opinion the current midterm trend dictates a price of $.50 - .70.
My thoughts on ALGO, holding offers a 6.35% on staked coins. Not a bad return on savings in my opinion. The cap on minted ALGO coins is 4billion and the adoption of ALGO looks promising. Transfer rates appear to be very fast compared to competitors like ETH. Amount of transfers per second is higher than ADA and DOT. ALGO Foundation states they want the market place to dictate the price of coins. I'd assume as coins are held to capitalize on the APY the price may increase as the amount of coins in circulation decreases. This could trigger more holders to sell and take some profit which would increase the coins in circulation. I'm curious to see how this model of Supply v. Demand plays out in the real world.
Agorand, pretty straight forward.Looks good, probably the safest and bullish looking long term trade i've ever seen; but I'm just a newbie pleb, this is not advice in anyway, and please DYOR.
All time Weekly chart looks ready to pop. Next leg to bring it to the 2.618 fib extension which lines up at its ATH and then price discovery after that. May end up seeing $12+ once it makes it to price discovery. Lots of potential upside still here
Could Algorand be making a potential Giant W pattern?Not sure at all if this will play out but just a potential idea for a double bottom reversal pattern
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Interesting outlookLooks like the sellers are running out of stream and buyers are jumping in. look at the TTM, there is a squeeze forming for a pent-up buyers to jump in. ADX indictor is above 20 for aggressive buying. Candlestick is resting on support and it looks like a green morning star daily candlestick that indicators trend reserval for the upside, waiting for some massive buyers to jump in an uptrend channel as you can see in the chart.
Even though is March 12, Crypto Darkest Day today because of the pandemic hit a year ago. Use caution.
Educational Purposes Only.
ALGO/USDPotential Long opportunity at the current market with a stop below the previous low @ $1. The primary target is on the conservative side @ the 1:1 extension.
ALGOUSD 4hBroke downtrend line with low volume.
Consolidating above,.786 FIb asting as support.
If it breaks below,next support 1.02-1.05
Algorand LongAlgorand is a sleeping giant. We have seen Polkadot, Cardano, and Eth explode but we haven't seen Algorand make a huge move? I think it's overdue for it especially when people start to realize its superior to the coins listed above in certain aspects and it has the potential to be used commercially. It could also be used for derivatives and completely revolutionize the monetary system within those ecosystems resulting in cheaper and faster transaction settlement that doesn't require a middleman. This isn't financial advice but I'm balls deep in Algorand. KRAKEN:ALGOUSD
Triangle design idea I think algo will take off in near future, we’ve been in buy zone around for almost a month. Any criticism is acceptable.
ALGO $2+ imminent!! $ALGOONE leading the way and ALGO following in its footsteps! Who's is ready for $2 ALGO??
🚀ALGO - Consolidation in an Uptrend? Grab the dip!🚀ALGO is a fantastic defi project that's seen good upside recently. It looks like we're currently in a consolidation wedge with a failure at the upper bounds.
I anticipate a bit of a retrace then continued upside. RSI support this theory.
Potential buy zone in green. Potential long term targets on chart.
ALGO Potential 130% Bagger is IMMINENT! ALGO has been on a tear lately. After testing the .382 retracement zone at the $0.86 level, we have seen a strong recovery to $1.20
If we can break above the .618 zone and hold above $1.25 I can see a potential set-up here to $2.88
Waiting for ALGO's Next MoveALGO has been forming a symmetrical wedge, the RSI is showing neither bullish nor bearish signs, and the MACD is almost exactly in the middle. Looking at the 4hour chart ALGO seems 50/50. If ALGO breaks above the wedge and bounces back turning that line into support, I would take a long position, and if ALGO breaks below the supporting wedge line, and it turns into a line of resistance, ALGO will most likely continue its correction, and I will wait for a better buy-in opportunity.
I wish you prosperous and happy trading!!:)
