Algorand (ALGO) - May 12Hello? Dear traders, nice to meet you. By "following" you can always get new information quickly. Please also click "Like". Have a good day. ------------------------------------- (ALGOUSD 1W chart) (1D chart) We should watch for movements that deviate from the 1.32179365-1.72007755 section between around 11th and 16th May. In particular, it remains to be seen if it can rise above the 1.47009413 point. If it falls at the 1.18903235 point, a Stop Loss is needed to preserve the profit and loss. -------------------------------------- (ALGOBTC 1W chart) (1D chart) 2374 Satoshi-2792 We must watch for any movement that deviates from the Satoshi section. In particular, it remains to be seen if it can rise along the uptrend line. If you fall from the 2374 Satoshi point, you can touch the 1970 Satoshi point, so you need to trade carefully. -------------------------------------- It is advisable to trade at your average unit price. This is because if the price flows below your average unit price, which was on an uptrend or downtrend, there is a high possibility that you will not be able to earn a large profit due to the psychological burden. The center of every trade starts with the average unit price 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, so that the money that ultimately corresponds to the profit can regenerate the profit. -------------------------------------------------- ------------------------------------------- ** All indicators are lagging indicators. So, it's important to be aware that the indicator moves accordingly with the movement of price and volume. Just for the sake of convenience, we are talking upside down for interpretation of the indicators. ** The wRSI_SR indicator is an indicator created by adding settings and options from the existing Stochastic RSI indicator. Therefore, the interpretation is the same as the conventional 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 that oh92 disclosed. (Thank you for this.) ** Check support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All explanations are for reference only and do not guarantee profit or loss on investment. Explanation of abbreviations displayed on the chart R: A point or section of resistance that requires a response to preserve profits S-L: Stop Loss point or section S: A point or segment that can be bought for profit generation as a support point or segment (Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment transactions. It is a short-term investment perspective.) GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they do not trade 24 hours a day. G1: Closing price when closed G2: Cigar at the time of opening (Example) Gap (G1-G2) by readCrypto19
Support Failed, What Happens Next? ALGO blew right through the support on the retest. After a brief drop down to $1.31, the price has stabilized and returned to around its 1-month average price. Now, we either see a breakout above the previous support and look for a buy setup on the retest or we bounce back down to a lower support level . Given the average price over the past 30 days is $1.38-$1. 40 , I am thinking this might be a good entry point. There needs to be confirmation of strong support if/when the price drops back down to $1. 40 and it will give ALGO a chance to take off.Longby benjo931
PyraWeb AlgorandHere's the first PyraWeb that I decided to post to Tradingview. There are two PyraWeb sets here, the large Pyramid is built from the smaller ones. Price is transferring to the 2nd set it appears. Longby PyraWeb1
ALGOUSD bounce off 100 Moving Average IndicatorThe moving average indicator is a widely used indicator that can sometimes predict future price movement of an asset. Often, when any asset price bounces off the Moving Average or ‘MA’, this means that we are in for a good increase in price. For two days in a row, ALGOUSD price has experienced a bounce off the 100 period MA, could this be a final call before departure to the moon? Let me know what you think in the comments! Longby TraderThierry3
Resistance Turned to Support? $1.45 Could be the last little DipThis chart helps to show the flip from Resistance to Support. We are currently retesting the support of around $1.45 and we will see if it holds up!Longby benjo937
ALGO setup looks like last summer.Looking oddly familiar to last summer's rally. Interested to see where the RSI breaks the downtrend on the daily.Longby TitoLibido7
How High Will ALGO Go?There needs to be a solid closed candle above the resistance zone and then a retest to confirm a potential spike to the higher levels around $2.00 - $2.50 The trend is overall bullish and the 1-Day MACD helps to confirm this idea. There is a lot of momentum building in the crypto space and this could be the beginning of the next big leg up. ALGO just needs to breakout soon! Let me know what you think of the analysis and I'd love to hear some critiques and feedback! Longby benjo934
Triangles This Time! $ALGOPeople are irrational! Super, duper irrational! Like, ok, I'm pretty sure our Algorand coins are going to be worth quite a bit of $ in the future, right? I mean like at least double at some point, almost guaranteed. Right now it looks like "the market agrees," but there will be specific time intervals where that definitely isn't the case. The end is nigh! Abandon all hope! Until a whale steps in and is like, "nah, here's a rug for u bro ." So these intervals! These time periods of bullish and bearish sentiment! I've got four of these weird triangles plotted out that correlate to the price action for given periods. I chose most of my points of off "best fit" criteria, but I'm not applying a great deal of in-depth statistical analysis. I think the edge here is that a lot of the market maybe isn't either, so we get to see the prices reflect the imperfection of man on a more granular scale. Anyway- for my specific strategy for this time period, I've got a spread of buys that I adjust accordingly on the intersection points between the bullish and bearish sentiment flags. Since I'm buying/selling more than I intend to own long term, I've also got a spread of sells that correlate to my "Excite" and "Euphoric" price points, but I'm also sending some portion to my Algo wallet at regular intervals as the market churns. 6% APY for just... nothing? No coding, no staking, no gas, just more coins on the thing for the thing? On the crossover points: when determining the validity of these intersections, I also consider whether or not they already lie on preexisting "psychological barriers." If I don't have to adjust a flag for it to have already conformed to a psychological number (n.0000), then it's an indicator to me that the given price will be accurate. The last chart I drew had a few of these, and it was interesting to see the price movement as they approached. I postulated about the cause of this correlation and can only theorize that it's related to that vacuous thing I said before about granularity and people brains. Whatever anyway here's some colors. I'm probably not doing this right. If you aren't helping me, you aren't being helpful.Longby pleasesendhelUpdated 661
ALGOUSD BOUNCE OFF SUPPORT LEVELALGOUSD has just bounced off a KEY support level at the Dynamic SR level of the drawn pitchfork. This correction gives a huge sentiment of a bullish market in crypto tomorrow. This will probably be the last pump of the cycle before the market crashes again. Time your exits well and stay alert.Longby TraderThierry443
ALGO - You Decide => We Follow!ALGO is currently stuck inside this green range. NOW WHAT? Here are the two scenarios where I will be looking for high probability buy setups: I call them War Zones. Scenario 1 - Purple : (Lower Zone Retest - 0.900) I will be waiting for ALGO to retest the lower bound of the range (projection in red) to look for buy setups on lower timeframes. Scenario 2 - Orange : (Upper Zone Break & Retest - 1.900) Or if ALGO breaks above the upper bound of the range (projection in blue), then I will be looking for buy setups on its retest. As per my trading style: As ALGO approaches one of the circles, (orange or purple) I will be looking for reversal buy setups (like a double bottom pattern, trendline break, and so on...) Always follow your trading plan regarding entry, risk management, and trade management. What do you think? Which scenario is more likely to happen? All Strategies Are Good; If Managed Properly! ~Richby TheSignalyst444449
ALGO is looking to new ATH very soonA relatively clean cup and handle has formed as ALGO tries to push through its previous ATH resistance zone. Additionally, it appears that ALGO is trending in an ascending triangle converging to a potential breakout to the upside. With BTC pushing up above 59k recently, this could help push ALGO over the top, resulting in a price jump similar to what happened a couple months prior. Target 1: $1.90 Target 2: $2.50 Longby benjo93119
ALGO updateIf the price holds above $1.46, it will start climbing again. The projection is shown. There will be some correction as the price aims for next high at $1.80.Longby trader_tolga223
Algo easy profitAnother easy disfurnish chart pattern when we see this form most like a we will get a increase in price. Watch this coin go ATH. Follow for more free analysis. by CryptoWhale100Billion7
Thoughts?Just charting up, so far the overall crypto market has been looking good on the day scale but ALGO caught my eyes Thoughts?Longby WolfPackTrading1335
ALGO Bullish AFLook at that capture, nice bounce off previous resistance and upward bound!Longby TitoLibido118
ALGO reiterationThe price stretched somehow fast but still not at the point which ALGO will increase. We are expecting a consolidation period before it can make another move. If price holds within the range in the next 1-2 days, there will probably be another run to the highs. The consolidation will provide opportunity to those who want to go long on ALGO.Longby trader_tolga227
Update on AlgorandHey Guys, just a quick update on a new idea and price targets. We have a potential cup an handle forming waiting to see if the ascending triangle on the hourly chart breaks out to the $1.8 spot (Only speculation at this point that it will form). If the cup and handle pattern forms the breakout will be at approx. $3.75. Cup and handle formations don't always reach the target spot on, sometimes higher other times lower than target. Overall thoughts are the 5th Elliot wave target will be reached 10 days before the end of financial year as institutions will sell off their crypto (Mostly bitcoin and Ethereum , affecting overall market), to balance out their spreadsheets (makes the company look good for shareholders). I've drawn up 5 targets which I think are possible goals for Algorand. Let me know your thoughts, Thanksby dp4379337
$ALGO Continues the Slow & Steady Path to $2*THIS IS NOT FINANCIAL ADVICE* Besides the fact that ALGO has real uses, and is backed by a solid team, it's ALT season so most things don't matter. As you can see from my chart (and previous chart) ALGO is on a steady climb to its resistance zone in the $1.60 to $1.80 range. Afterward, I expect $2 to be the next resistance target but just like when it hit $1, it will surpass this and settle around the low $2 range. ($2 will only be a psychological resistance) By this time next week, ALGO will reach the top of its accumulation zone and begin retesting its resistance zone. As you can see in the first zone, ALGO hit resistance 3x before cross it on its 4th. Overall, I expect ALGO to stick around for a long time and will someday be worth more than $5 💎 Please let me know your thoughts on this theory, or if you have another idea in mind!Longby CruiserSpentIt2212
BTC CRV ALGOUSD Technical Analysis & Predictions 5/5/21*DISCLAIMER: I am not a financial advisor and this is not financial advice or a recommendation to buy or sell as these are purely my opinions and speculations. I may also own or trade (long or short) any of the symbols and cryptocurrencies mentioned in this video so do not make your trading or investing decisions based on this video. I do not guarantee any results nor am I responsible for your actions. You should always do your own due diligence before trading or investing in this market as it is extremely risky. Affiliate links are also included in this same video description section here and if you decide to support me by using any of them, I may receive a referral bonus or commission. *Follow me for the latest cryptocurrency analyses on my watchlist *Thank you to those who donated, I very much appreciate it. *Let me know in the comment section if you agree or disagree, would love to hear your ideas too.16:06by CryptoRush_6