ALGOUSD.P trade ideas
Algo is Bullish to the bonesALGO IS SO BULLISH, it's forming not one falling wedge but two wedges (technically bullish patterns) 😀...No matter how you look at it it's bullish, with expectations to reach $2.80 min or $3.00 after the breakouts upwards.
Algorand has been on an uptrend lately and topped charts as the best performer coin multiple times. With the price climbing to heights not seen since early April, showing significant volatility over the last week. As a project algorand is very good and of course you can hold for long term. (better days are coming for sure)!
Good luck 🤞
Algorand's (ALGO) Bullish IndicatorsALGO or Algorand has one of the stronger looking charts in the crypto space
With it's recent ascent from $1ish to $2.50ish, ALGO is currently undergoing some price correction
What's nice about its ongoing correction is the Volume Contraction Pattern (VCP) on its daily volume, a bullish sign.
The previous resistance that it broke, $1.80 ish, is now acting as support as evidenced by candles bouncing from this level whenever it nears that price
Let's see how this will play out.
Good luck!
Deep correction for ALGO on the horizonThe daily MACD just manifested a Dead-cross. Comparing it to last time, as highlighted in the picture, the price can revert to MA100 or MA50. A target price of 1.5$ does not seem to be out of reach.
Alogrand Bull Flag Pattern $ALGOBullish set up with $1.75 acting as the floor. I'm looking for price to break the triangle to the upside with a move above $2.25 to signal potential to see $3-3.50
Algorand ($ALGO) New FIBAlgorand ($ALGO) BULLS applying some buying pressure yesterday and the start of today's trading candle
Pump up formation for sure, watch for climaxIts a well known formation. Watch out for climax, it could get to be a bit sticky at the end. WAZZZZZZUPPPPPP
So its back in, its back onLets go. Update to earlier algo analysis. Dropped down to support and made a recovery back to the wedge and above support trend line, shit it lookin good
Algorand descending wedge breakoutScalping off Algorand.
Took my position at $1.90, planning to sell around $2.05-$2.10
Algorand ($2.75-$3.00 Scenario)Algorand has seen a recent uptrend, and is testing $2.00-$2.15 (the handle of the small cup-and-handle pattern). The next major ceiling for Algo is $2.22. If Algorand is able to break out of the $2.43 price barrier, I would expect an immediate rise to $2.50-$2.60...with possible resistance at $2.65-$2.75.
Algorand ($2.75-$3.00 Scenario)Algorand is testing $2.00-$2.16 with a temporary ceiling at $2.22.
The ceiling could have been caused by multiple or several large sell orders placed at this price marker.
Floor at $1.86 with support at $2.00.
Additional Notes: Algorand's Community Governance goes into effect on October 1st, 2021.
Update on the algo chart from before: Algo didn't like my takeHit off support at the larger/stronger trendline in the flag/pennant formation, perhaps plays out a bit longer but the weekend still looks to begin a uptrend.
Algo Uptrend on the lines, looking to break by tomorrow nightI believe this will break up and form a mutant cup and handle in both the chart and volume. My dip buy target was 1.60 cents but it did not reach my desired level, still looking for a test of that level, but the bullish bounce means most likely we see uptrend continue this weekend. Good luck. Not financial advice. All lines are hand/eye drawn and not taken from any indicator other than rough eye.
Algorand (possible breakout to $2.75-$3.00)Algorand is currently testing the bottom of the handle? Could we see a move up to $2.75-$3.00 next? The Salt Conference in N.Y has ended, and this could very-well bring heavy volume into the crypto space, with Algo being a key-backbone to the ever-developing ecosystem.
Algorand (possible break to $3.00)The Salt Conference in N.Y is setting up the Crypto Space for heavy volume and adoption. Algorand is holding steady at $2.00, and could see an uptrend within the next 48-72 hours.
Chart Patterns: Algo is forming a nice cup and handle pattern, and could see a drop to $2.00 (which would be the new "floor.) Price target is around $2.75-$3.00 per Algo.
Possible Breakout upwardAlgo is very bullish now with possible breakout to $2.20. Algo is forming a huge rising wedge witch could take it to $2.80-$3.00
ALGOI have ALGO breaking up in a minor W5 as a sub wave of the Intermediate W3 heading towards $3.21. We just took a long leverage trade in my group. GL guys. Big Mike loves all of you.
ALGO/USD - maybe nice spot to buyHere is just my little observation considering ALGO.
The maint point, that this recent high volume has been confirmation of break phase of accumulation out.
If so, than I think history can repeat itself, and next target will be around 2.618.
For now I am looking closely, if price can hold 4-hour support :
ALGO has nice fundamental for a long bull-run. So it's worth looking at.
Algorand is going higher [Signal #1 in Defi Series]Algorand is a decentralized network built to solve the blockchain trilemma of achieving speed, security, and decentralization simultaneously. Launched in June 2019 by computer scientist and MIT professor Silvio Micali, Algorand is a permissionless and open-source blockchain network upon which anyone can build. Algorand is designed to be a payments-focused network with rapid transactions and a strong focus on achieving near-instant finality — that means processing over 1,000 transactions per second and achieving transaction finality in less than five seconds.
Algorand uses a Proof-of-Stake consensus mechanism and distributes validator rewards to all holders of its native ALGO cryptocurrency. Through strong throughput capacity and equitable community incentivization, Algorand is capable of managing the high-throughput requirements of widespread global usage and a variety of use cases.
As a public smart contract blockchain that relies on staking, Algorand is currently capable of hosting decentralized application (dApp) development and providing scalability. Rising gas fees on Ethereum have led many dApp developers and decentralized finance (DeFi) traders to look for alternative blockchain solutions, with some turning to Algorand as an Ethereum-alternative for dApp development and DeFi applications.
Algorand also allows developers to use the Algorand Standard Asset (ASA) protocol to create new tokens or to transfer existing tokens to the Algorand ecosystem. For example, stablecoins like USDT and USDC also exist as ASAs on the Algorand blockchain and enjoy much higher throughput and much lower transaction fees than what is typical on Ethereum. Further, as central banks continue to research networks to host their central bank digital currencies (CBDCs), Algorand has become a viable option and has been chosen to host the Marshall Islands CBDC. Learn more about it at www.algorand.com
~ cryptowinger.com AI-Based Crypto Portfolio Management ( Coming Soon)
ALGO potentially can reach $8 - $12Maybe it can reach some where close to $4 then come down to low $2 and toward the end of the cycle it can reach somewhere between $8 to $12
BIG. MASSIVE. FLAGS...BIGLYDo I see a motherfudgin' bull flag???
Never take this as advice. I am a moron.
ALGO to new ATHBought ALGO at $2, this is now stop loss, losing this would see a dump. I've already taken profit 1 (and renamed the other 4 for the convenience of this chart) at the high but I'm trying to journal more on tradingview as I abandoned it a while ago and want to resurrect it a bit.
TP's are fib pulls. I think we'll probably stay above R2 on a pullback, unless bitcoin dumps. Either way stop loss will allow me a small profit on this trade.
