ALGORAND under $1 ?When looking at the daily chart, the current level looks like the bottom. But if we zoom out and check out the weekly chart, there is still a way to go. Will we go up from here or hit the demand zone first?
ALGOUSD.P trade ideas
ALGO | AlgorandRed = Daily
Orange = 4hr
Yellow = 1hr
Light blue = 15min
Blue = 5min
Purple = 1min
Untested levels are marked with horizontal ray. Tested levels marked with dotted horizontal ray. Lower rays indicate area's of support and idea's to DCA into a position. Upper levels indicate area's of resistance and idea's to exit positions.
If Algo is to continue its ladder upwards it must hold the thicker 1hr level that intersects with the bottom daily trend. If it fails, I would expect it to fall off the face of the earth. There are a couple untested 1hr levels near the base point of the daily trend. FJB lets go Algo
ALGOUSD D2: 250%+ gains THE BEST Level to BUY/HOLD(SL/TP)(NEW)Why get subbed to me on Tradingview?
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ALGOUSD D2: 250%+ gains THE BEST Level to BUY/HOLD(SL/TP)(NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
🔸 Summary and potential trade setup
::: ALGOUSD D2 chart review
::: updated/revised outlook
::: overall strong chart looks good
::: BULLISH compression pattern
::: focus on buying lower later
::: final swipe lower possible/likely
::: but then expect MASSIVE GAINS
::: chart looks good /strong
::: still valid today / great setup BULLS
::: BULL FLAG setup with massive upside
::: still expecting pullback off the highs
::: get ready to BUY LOW later
::: accumulation in range previously
::: then we had 350% gains PUMP
::: we had 2 pumps already before this
::: 350% pump - pullback
::: then 350% pump and now pullback mode
::: expecting short-term pullback
::: BULLS get ready to BUY after pullback
::: TP bulls is +250% gains later
::: expecting decent gains soon
::: 20-30% pullback short-term
::: recommended strategy: BUY/HOLD after pullback
::: TP BULLS +250% gains
::: SWING TRADE: BUY/HOLD IT
::: bull run not over yet
::: good luck traders!
::: BUY/HOLD and get paid. period.
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment mid-term: BULLS
::: Sentiment short-term: BEARS/PULLBACK
RISK DISCLAIMER:
Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
HEAD & SHOULDERSALGO is looking like it has bottomed with this pattern painted on the 4H time frame. From the top of this pattern we have a measured move to $1.56 and potential further upside.
ALGO above MA 50ALGO is looking to close above the 1D MA 50. Once this occurs we could see an impulse up to the cloud or even the RED resistance line in the next few candles.
Squeeze Indicator is ready to cross up, indicating more impulse.
The fib at $1.75 will provide resistance.
Good Luck
ALGOUSD - ALGORAND - Bullish falling wedge breakout- updatedALGOUSD - ALGORAND - Bullish falling wedge breakout- updated.
ALGOUSD - ALGORAND - Bullish falling wedgeALGOUSD - ALGORAND - Bullish falling wedge, breakout incoming?
Algo, the short-long term predictionThis is mostly for personal reference, but I'm publishing it here for others to see and critique. I firmly believe algo will be in the Top 3 MC by 2023.
Falling Wedge Breakout with Two Instances of Bullish DivergenceIf we can confidently break above the 50 line on the RSI we may see Algo go up to test near the old highs.
Algo Failing To Recapture 200 Day MAAlgo is currently fighting to recapture the 200 day MA as well as the .618 fib level. If it doesnt manage to break above both then we could see a drop to the .786 fib level around 1.10. I would wait to take a long position until their is a convincing break above the .618 fib level and 200 day MA.
ALGOUSD - Bullish idea on the daily timeframeHello traders and investors,
Today we have looked at the ALGO / USD pair. Assuming that 2020 March low is the beginning of a primary cycle (purple) and that 2021 February high is the beginning of extension in primary wave 3 (hence intermediate blue wave 1), I can only be extremely bullish that we are in a 1-2-1-2-1-2 pattern that is unfolding towards new (incredible) high.
Looking at possible targets, I see a confluence of Fibonacci for primary pink 3 (2.618) and possible ends of intermediate blue wave 5 (200%).
This is a bullish idea that still needs to unfold in the next couple months.
What's your target?
ALGOUSD LONGWe recommend to take a long position as the price is currently at the lower boundary of the Keltner Channel. Moreover current market conditions are favouring bulls and we expect it to bounce towards the previous support which should be act as a resistance.
Entry and target are shown in the chart.
No financial advice.
Algorand (Algo) - Gearing Up for Something Big.Hi everyone,
Algorand is a promising project with a great team. The chart also looks fantastic, being in a very pronounced uptrend since around April 2020. This uptrend has involved previous resistance being turned into support, something which I believe is happening now. Due to the promising nature of the project and it's having a very modest market cap of $8 billion (lol), I believe that Algorand will go much higher. How much higher is difficult to say, but assuming a total crypto market cap of between 6-12 trillion $ by the end of this bull market, and assuming that Algorand continues to gain market share relative to its peers in the top 20 (from projects like litecoin, cro, and xrp for example), a market cap above 40 billion seems exceedingly likely, and thus an Algo above $5. Watch this space.
Take care everyone and happy holidays!
Jason
ALGO LongtermI use history to help guide my buys. Picture tells the story, this drop is no surprise, institutions taking large profits after 1 year. Can still go lower, but could bounce if enough Pleb interest. I suspect a January drop after interest is paid on governance, IMO.
Stay well! Happy wealth, family and prosperity!
MY BET IS ON THE ABC RED ARROW TRAJECTORYMy bet is on the abc correction in red, but an alternative abcde blue arrow trajectory has been drawn out as well. My previous symmetrical triangle was invalidated as a continuation pattern and turned into a bull flag, which I expected due to the teetering and trouble at resistance, I"m open for feedback, thoughts etc..
Strong Uptrend from Powell and his Talk today!Many were wondering what the catalyst would be to help propel us out of the crypto slump and though the higher level timeframes depict bearishness across the board, such as the Weekly and Monthly timeframes on most Cryptocurrencies, we are due for one last Santa Clause Rally. During the day earlier today, the Fed talk caused a precipitous drop in the VIX and it's ETF Derivative Investments such as UVXY and a Rally in Equities and Cryptocurrencies.
This has left many currencies, including Algo propped up by strong support levels, consolidating and ready for the next leg up!
As you can see in my shorter term chart, Algo has consolidated just above the 200 SMA into a sideways symmetrical triangle and has obeyed the strongest Fibonacci Level, which is .236 or 23.6% (the shallowest correction in terms of fib ratios). In theory, the extension should run up to the reciprocal of the fibonacci ratio added to the bottom of the retracement, so 1/.236, which = 4.237, but I'm looking at the conservative target, assuming our breakout holds of 1.618 which is at 1.55 short term. After that I will reanalyze things.
ALGO - buying more !!In the past it has never been a bad idea to buy at these oversold levels !!
RSI around 33-34 level has many times been a good indicator.
Moreover ALGO is right above support !
AlgorandDownside targets for Algorand. Will be purchasing at 0.50 cents and below if opportunity is given. Don't predict the market react only.
ALGO Fib RetracementAlgorand is a blockchain-based cryptocurrency platform that aims to be secure, scalable, and decentralized. The Algorand platform supports smart contract functionality, and its consensus algorithm is based on proof-of-stake principles and a Byzantine Agreement protocol. Algorand's native cryptocurrency is called Algo.
#ALGO Algorand 1D - Bearish Divergence in sightI am looking at the 1D chart for Algorand. I show the top and bottom multi-year trendlines and it seems that we may have some downside to go possibly based on historical trends. I showed a possible fractal from the past that may play out again.
Lastly and most important, on the daily chart there is bearish divergence. This may be a good indicator of what's to come in the future.
What are your opinions on this? Comment below, hit the like and follow me. Thank you!
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Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk #bitcoin #altcoins
Algorand (ALGO) - December 7Hello?
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(ALGOUSD 1W Chart) - Mid-Long-Term Perspective
Above 0.76754798 point: Expected to create a new wave.
(1D chart)
First resistance section: near point 2.30117362
Second resistance section: 2.84473154-3.02591751
First support section: near point 1.21405778
Second support section: 0.67049985-0.85168582
A move above the 1.97455023 point is needed to see if it can accelerate the uptrend.
If they do, they should check to see if they find support at the 1.57642973-1.75761570 zone.
The price should hold above the 1.35658321 point to continue the uptrend.
Accordingly, a short-term Stop Loss is required if the price declines from the 1.57642973 point.
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(ALGOBTC 1W chart)
6469 Satoshi point or higher: Expected to create a new wave.
Above the 2886 Satoshi point: It is likely to turn into an uptrend and continue the uptrend.
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We recommend that you trade with your average unit price.
This is because, if the price is below your average unit price, whether the price trend is in an upward trend or a downward trend, there is a high possibility that you will not be able to get a big profit due to the psychological burden.
The center of all trading starts with the average unit price at which you start trading.
If you ignore this, you may be trading in the wrong direction.
Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, ultimately allowing the funds corresponding to the profits to be able to regenerate themselves.
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** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume.
However, for convenience, we are talking in reverse for the interpretation of the indicator.
** The MRHAB-O and MRHAB-B indicators used in the chart are indicators of our channel that have not been released yet.
(Since it was not disclosed, you can use this chart without any restrictions by sharing this chart and copying and pasting the indicators.)
** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator.
Therefore, the interpretation is the same as the traditional Stochastic RSI indicator. (K, D line -> R, S line)
** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)
** Support or resistance is based on the closing price of the 1D chart.
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.)
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ALGO: Trend FollowALGO crypto is following a familiar trend. I am looking at this cryptocurrency very closely as it approaches the bottom of the channel as a buy zone. Good Luck.
