ALGOUSD.P trade ideas
ALGO RE-ENTERING ITS CHANNEL ?? Hello all, we have had our eye on ALGO for a long time now (March) and have my fingers crossed for its progress. As we can see looking at the chart, ALGO is re-entering into its previous up trend which may experience some turbulence getting into it. We could see ALGO push straight through or it may find support before pushing up.
TP 1 : $1.56
TP 2 : $1.74
TP 3 : $2.22
As always do your own research on trades we are good but can't predict the future. Make sure to comment your thoughts, like and follow for more content !!
Algorand ALGO-USD Ascending Triangle - Bullish ScenarioPossible scenarios I am looking at:
1. BO of Ascending Triangle
2. Consolidation before the next leg up to ATH
P.S: This is NOT investment advice. This chart is meant for learning purposes only and is a part of my personal journal. Invest your capital at your own risk
Stay with the MarketThe price is currently near Resistance.
We can expect 2 Scenario's that can occur
1. Price breaks Resistance and up to target
2. Bounce off of Resistance a bit before a Bulls to target
I, Uhh... Drew Something! Look! $ALGOI don't know what I'm doing, but I did this once and it did a thing, so I'm doing it again! The ... The big pink one is where I'd start to be concerned over the coming days, but I'm guessing there's magical support somewhere in the 1.20 range. It's a bull / bear bonanza! No one is safe!
... Colors!!
ALGO Update and Price PredictionHey guys, looking at the chart I'm quite confident we have finished the 4th leg of the Elliot wave now, and have had a running flat ABC correction. With this in mind, where do we go from here for the 5th leg? Well in my opinion a not so greedy price prediction for the 5th wave would be in the $2.5 - $3 range. This would complete either the 1.618% inverse fib extension or the 61.8% combination of both wave 1+3. However for those who want to take a bit more risk we could have a impulse extension wave which would put the price beyond this. ($3-$5 range at a guess based on Fibonacci extensions).
There is going to be a re-structure of the ALGO stake distribution towards the end of this year to a new governance system which will require locking up ALGO for stake rewards. This might effect price when approaching the end of the year (positive or negative), so keep an eye out. However the sentiment is bullish still and the 5th wave is yet to complete. Thanks.
ALGO really taking off this time?Not an expert. Not financial advice.
Is the entire cryptocurrency market potentially at Base 3 on a parabolic curve?
ALGO upside targetsALGO has been consolidating range bounded between 1$ to 1.8$ for the last 2 months. Expecting big upside movement if consecutive daily candles close above 1.8$.
Based on the cup pattern and fib expansion from the last impulsive wave it could hit somewhere between 3$ to 7$ if BTC remains bullish.
Crypto In My BagALGO is my fav, but I'm heavy on CVC, HBAR & VET as well. Drew some lines on here. They'll change, bag composition will as well but my commitment to most of these jingle bags will not!
Dunno where my entries are, the only recent additions are 1INCH, AMPL, CRV, SOL & SUSHI. Will probably flip Sushi for something else soon and bag up on the rest.
Got out of ENJ a while back for a 2x but got back in during the recent consolidation. Might bag up on it, the Enjin games look the best of all the chain-games, imo.
ALGO: The Love of round numbers (^_^)This is no secret that cryptos have a strong affection for this phenomenon. ALGO is no exception and has been bouncing back and forth between every round number marked on the chart. Speaking of the chart, you can see the RSI is getting closer to the 75 percentile where it has been shown to be sensitive since our latest corrective move on especially after April 25th. Seems like the bears are still in disbelief that this thing is moving up and might cross past its previous high. Although, they might be right because our recent upward channel is pretty steep and could easily shift gears and head back down. But, we have seen Algo go down to 96 cents and recover within days and hit its ATH. So, who knows?!
On a higher time frame, though, our last touch of 95 looks like a double bottom when compared to our previous low on March 24th. And both of these lows are higher than what we had on Feb 23rd. So we're still good and should keep moving up. Also, in my previous analysis, I thought we may be forming a C&H but that's contingent on if this uptrend continues toward the previous high at $1.80. But we are far away from that and too early to call. For now, we are moving toward 1.45 and that's a solid 7.3% profit. Not too bad! But the RSI is moving up pretty fast and should take a break in between so it would be a rough ride.
ALGO liftoff underwayALGO finally appears to be clear of most of the resistance ellipses, and should be more free to fly. Of course, not much support on the downside for quite a ways, either. In any event, I’m expecting some more dramatic moves in the coming days.
ALGOUSD - Breaking above 50D MAForming a mis-shapen cup & handle, two recent big pumps but still trending sideways in a consolidation range. Pretty good entry if you're not in already, looking to re-test recent highs. I like ALGO because of the simple 6% interest w/o lock up, long term this should be banger, adoption presently a bit light but big things expected in the future.
ALGO/USDLeft : ALGO mustering bullish sentiment. defiantly a "long-able" coin in my opinion
Right : ALGO is currently in a symmetrical triangle and waiting to break out. The top tine has been touched 2 or 3 times, It will take only 1 or 2 more taps to break through. strong support underneath.
Lines are ordered in (mo) likelyness.
If falls into "red zone" look below for update.
ALGO trendline analysis through may 2A trendline based analysis of algorand through May 2nd, looking like some potential for gains but I also included orange mid level trends for stops in between the main changes, sort of an experimental indicator of partial lot exchanges.
ALGO looks BullishI love the project, but regardless of fundamentals, this looks prime for a move, technically, since it's an overall extremely bullish asset long term. The trend will be up; very up.
ALGOALGO looks great on the daily. obvi. as long as btc price holds up this thing looks primed for higher levels . just a basic analysis . full disclosure I own this asset.
ALGO to $1.05 or $1.03, the back up?ALGO has been following the bottom of the yellow ellipse down as BTC continues to drop. If that ellipse holds, it could ride back up after touching $1.05 or even $1.03. However, if it breaks below that ellipse, it’s unclear to me how far it falls from there.
Trade carefully.
