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ALGOUSD.P trade ideas

ALGO Prices Back AT $0.10, Will it Break Below? ALGO price action indicates a bullish failure to sustain the breakout rally. ALGO prices have reversed from the 50-day EMA to retest the bullish dominance at $0.10. Algorand prices are down by 7.17% in the last 24 hours. Despite a triangle breakout, excessive selling pressure at the 50-day EMA and the bleeding altcoin market have reverted the rally. The breakout rally failed to close above the 50-day EMA, falling 9.18% in the last 48 hours, returning to the $0.10 mark. A sharp rise in trading volume supports the ALGO price downfall, with a third consecutive bearish candle challenging the bullish dominance at $0.10. The retracement might be a retest of the bullish breakout, but the long-term correction rally may break under the $0.10 zone. Technical indicators like daily RSI and MACD lines maintain a neutral to bearish standpoint, warning of a potential downfall. If buyers hold off the bearish downfall at the $0.10 zone, ALGO price may consolidate and reattempt the 50-day EMA breakout. A drop below $0.10 could lead to a crash, with the next support levels at $0.096 and $0.084, predicting a downfall of 7.15% to 18%.
BINANCE:ALGOUSD
by Coinpedia-Market-Insight
Triangle Breakout Marks Grand Bullish in Algorand Prices!ALGO price breaks out of descending triangle, signaling a bullish trend. Prices rise by 3.29% in the last 24 hours, aiming to challenge 50-day EMA. Bullish launchpad projected, potential target at $0.1414. ALGO down 96.62% from all-time high, but finds solid support at $0.10. Triangle breakout supported by morning star pattern and increased trading volume. Technical indicators maintain a bullish outlook, RSI and stochastic RSI showing uptrend. Bullish momentum may continue throughout the week, facing resistance at $0.1225 and $0.1414. Retest phase possible with early reversal.
BINANCE:ALGOUSDLong
by Coinpedia-Market-Insight
Trapped In A Wedge, Is ALGO Price Going under $0.10?ALGO price struggling to maintain near resistance trendline forms a falling wedge pattern in the daily chart. ALGO price may fall under $0.10 with an intraday drop of 1.37%, potentially setting a new low at $0.050. A continuous downtrend has led to ALGO coin prices decreasing by 45% in the last four months. Despite near-resistance trading, the recent 1.37% downfall forms a bearish candle, indicating a potential fall. Increased trading volume supports the drop in ALGO price, implying significant supply pressure. If prices close below $0.1084, the XLM trend may test the support trendline of the falling wedge. Bearish rally indicated by sideways Stochastic indicator trend and falling RSI line. If XLM prices fall below $0.10, a new low of $0.055 could be established, a 45% drop. However, lower price rejection could drive ALGO prices above the resistance trendline, potentially triggering a breakout rally with prices reaching as high as $0.15.
COINBASE:ALGOUSDShort
by Coinpedia-Market-Insight
2
Accumulation into .35 or .54, bullish Accumulation, 300% GainLets take a look at algo real quick. Interesting set up here, even though algo supply 2.5 larger than it was back in 2020, it is actually still holding the psychological price of 10c. That is actually very good for Tokenomics, considering how much they have liquidated into market. I believe that algo is now a sleeper giant. My chart is clean, and looks like there is a major fractal in August. Should be interesting. hopefully. I have been technically severely wrong about algo, so take this what it is, a TA, and not a prophecy. Good luck all.
COINBASE:ALGOUSDLong
by Ajion
Who controls the markets "humans or bots"To anyone reading this post: I have a very serious question to anyone providing tokens on exchanges. Why would anyone with common sense sell tokens for no profit. This makes no sense to me. The investment strategy of trading is buy low and sell high. Utilizing a network for transferring funds is one thing. But why provide so much liquidity for buyers on the order books and you lose so much future return selling your assets at the bottom of a bear market. When the bull market rockets your realized potential gains will be negative. I'm sorry but i am a common sense investor. Exactly how many people are really providing tokens or is this automated manipulation to prevent a market price from swinging too fast. I would hate to be the person losing money if this is true. This bear vs bull war is so stupid. No one really cares about who controls what. They just want a secure investment when potential gains. When a mysterious manipulation like this is going on then something or someone is not very intelligent. I performed a test on market manipulation months ago with some friends of mine. 100k budget started buying an asset order book and the order book reset to the same figures after every purchase. This was a crypto asset that is no longer available on coinbase and for good reason. I thing algorithmic trading was recycling order flows to maintain the price range and no matter what anyone did it never changed more than .01% I look at Algo order books and such many tokens always at the cheapest price. Now why is that. Look at all the crypto tokens and ask yourself why are they all grouped together. You would think there would be more diversity for selling and buying. At the bottom of a market you should see tokens available to buy to get smaller and spread out toward peak prices in the future. Why is everyone grouping at the current instead of future prices. I don't know the reasoning behind these traders. Common sense is my thinking with a well planned strategy. Bought my long term holdings. Pulled off the exchange i purchased. Then i bought more for short term trades to provide support for my investment. Easy as 1,2,3 common sense. Seems this market is following instead of individual thought. That is a bad market strategy. No body sells for no profit unless they don't know what they are doing. Algorithmic bot by an inexperienced whale can manipulate markets.
COINBASE:ALGOUSDLong
by UnknownUnicorn35774657
3
ALGOUSD Ahead of the first major bullish break-out in 4 months.Algorand (ALGOUSD) has hit today the 1D MA50 (blue trend-line) for the first time since April 17. That is also the top of the 4-month Channel Down pattern. If broken, it may turn out into the first such major bullish break-out move this year as not only is the price rebounding off a Double Bottom but the RSI is on a huge Higher Lows line (Bullish Divergence). As a result, we will go long if the 1D candle closes above the top of the Channel Down and target 0.15000, which is not just near Resistance 1 but more importantly the Lower Highs trend-line since the February 21 High. On the longer-term if a 1D candle closes above that Lower Highs trend-line as well as Resistance 1, we will buy again targeting 0.18000 (within Resistance 2 and the 0.382 Fibonacci). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:ALGOUSDLong
by TradingShot
algo RAND corporationThe RAND Corporation is a nonprofit institution that helps improve policy and decision making through research and analysis. NFA DYOR The following is a speculative look at the future of algo RAND and bitcoin If the RAND in algo stands for the think tank above, then we may have an opportunity to get in on the ground floor of the next leading crypto after bitcoin has had its run and the US govt sells off its hoard via a blackrock etf and stuffs it into the 401K's and pensions of the sheeple clamoring for it at 1 or 2 or 3 million. Climate change is one tenet in the satanic religion of the pedophile cannibals who control the govt's of this world. Bitcoin, unlike algo is not climate change friendly. So we have a stealth globalist pos(no pun intented) coin with the name of their favorite "policy and decision making" think tank embedded in its name, included in the gensler lawsuits, with most crypto investors leaving it for dead. Can you spell o p p o r t u n i t y? From an elliott wave perspective the entire move from "inception" in 2019 is a giant ABC, which means that algo must have traded on some private dark (globalist?) exchange before its public debut. This is another reason why i think this coin is not your average joe schmo crypto. NFA DYOR
COINBASE:ALGOUSDLong
by victorcharts
2
ALGO - Clockwork Knife CatchMapping out the key support and resistance levels for ALGORAND. Key Findings: + Almost everything that ALGO hit as a resistance on the way up during the Bull phase has been met as support on the way down. + Every 6 months when the Stochastic RSI has been in the oversold region it has coincided with a big correction in the opposite direction. Really large swings during the hype phase but still sizeable upticks on the bear phase. + We are now at a point where we have a new lower low and Stochastic RSI is oversold. + on the Coinbase order book for Algo there are some wildly low orders, is there something they know we don't. + older news but the SEC are investigating ALGORAND and COINBSE stopped giving out staking rewards as a result. This has been the main driver of downward pressure. Thinkings: I'm pretty sure that over the next two months we are going to see a bounce of at least 50%, the lower it goes the bigger the bounce. The only question is where?. That $0.1 mark looks the most obvious , although you could also extend the bear trend line down and have something lower.
BINANCE:ALGOUSD
by dsypher
4
✴️ Algorand Goes Through The Same PatternIt might become doubtful, with every single day that isn't one full big green candle, doubt can creep in. Look at Bitcoin, after months of consolidation it breaks bullish yet, each time we don't see prices going straight up we doubt thinking, "Is this the end or will it continue going?" Bitcoin Cash went through the same pattern, it hit a lower low this month compared to December 2022 and look how great it is doing. ALGOUSD went through a full correction, the RSI went to the extreme on the downside and is now recovering hitting above 50. When the RSI is above 50 yet prices are low, it comes as one of the best signals to support a reversal taking place. The next one would be volume but we have no volume on these charts and volume can be tricky. Prices can be seen rising and the volume be low but only because there is no resistance and volume appears only when selling pressure shows up and is eliminated. ALGOUSD is now trading above EMA10 and EMA21 with a strong bullish bias. The support levels are marked blue on the chart. Below these levels, the bullish potential weakens. Any trading above these levels and the bullish perspective stays active, valid and strong. Namaste.
CRYPTO:ALGOUSDLong
by AlanSantana
11
Algorand - A long term opportunity? Algorand - A long term opportunity? - Oversold RSI on both BTC and USD pair - Clear bounces off lower channels - 96%+ correction to date on USD pair and 93% correction on BTC pair A long term 18 - 24 month position could be considered here, I'm not recommending it but the chart looks like its getting exhaustive. I'm stacking sats but might try for a small 1% trade bounce here or a re-bounce off channel lows. Please ensure you review my Total 2 and Total 3 Altcoins outlook charts in prior tweets and posts which project that a secular shift to a bull market will be more probable between Dec 2023 - March 2024. A much improved outcome would be probable around this date forward.
COINBASE:ALGOUSDLong
by PukaCharts
2
Algorand Whale Analysis Markets have not been to colorful but this is all part of there plan to trigger MAXIMUM FEAR on Retail Investors, we are also longing the time to have retail investors take there money out, making them wait very long to cause stress & panic or due to being in need of that capital. Sec attempting to sue exchanges & block U.S BINANCE users so they can stop buying & avoid retails getting riches... Now on the technical side we see Algo is heading to the floor of capital, 0.10 has to be retested, it has not been retested, Right Shoulder is projected to be form around 1.40, Broken level unretested 0.80 Oh & years before the SEC labeled it a security, Gaysler sorry I mean Gensler called Algorand “great technology” and “brilliant work.” Not bad.
BINANCE:ALGOUSDLong
by chrisdelvalle77
5
ALGOUSD almost reaching the "top"If you are "buying" based on the how this chart looks like your odds are terrible. You would chase 10-50% "upside" gain with the 95% "downside" risk. Algorand is just another alt with some s*itty leadership and tokenomics, but if you ask me it's marvelous for the whales to ride the reversal wave. Even if its going to zero it will still bounce around these prices. This chart and the news that SEC is suing Coinbase, Binance, labeling Algorand as security is equivalent to BTC being accepted by Tesla at 60k. What happened next ?
COINBASE:ALGOUSDLong
by dzoni893
4