$ALGO targets $1.03?SIX:ALGO looks like it's set to move higher from here.
Think we'll break the smaller resistances and head higher to the target of $1.03. Should it close higher than that, there are additional targets.
ALGOUSD.P trade ideas
ALGO - 1D and 1W OutlookOn the left we have the 1D chart and on the right we have the weekly chart.
The daily chart does look bullish and we should expect a reversal in the short term (in confluence with our btc analysis). We created a double bottom in price (around $0.18) as well as a higher low on our daily RSI (creating a bullish divergence).
The weekly chart does look a little more grim, but if you are a long term ALGO holder than you will be happy buying here. On the weekly we have two important trendlines. The higher trendline has many touchpoints of support that has recently been flipped into new resistance (red/green circles). The lower trendline is drawn from our 2020 bottom to where we are today. So far we have managed to not close a weekly candle below this trendline which is a good sign. Price is also inside our green box. Our green box represents our weekly demand zone or where the majority of accumulation happened dating back from 2019 to current day. Therefore, if you buy in this zone you will be very happy in the next bullrun.
But I will say the chart looks like we have not had a capitulation bottom yet. If you look back in 2019 we had a single weekly candle take price from $0.30 all the way down to $0.10. Then we had a weekly doji form followed by an inverse hammer candle which are both major candles that signal the downtrend has come to an end and price is looking to reverse. So far we have seen no weekly candles give us an indication that price is ready to reverse. This is in confluence with Gary Gensler recently attacking ALGO and could somehow lead to a final capitulation in ALGO before the bear market low. If you look at the RSI we are in a clear weekly channel and we are looking for the RSI back at the lower dotted line, or a breakout of our higher dotted line to start the bull run.
Algorithm on Algo says NUTZ!NFA
FNA
DYOR
YORD
BTFD
FTDB
ALGO
GOAL!!!
GOSH Thats brief!
Could you tell your audience a little bit more about what your publishing.
NUTZ said the Algorithm on Algo
Its in the chart Look see the green line goes up and up
NFA
FNA
DYOR
YORD
BTFD
FTDB
ALGO
GOAL!!!
Algorand has the best looking chart i see.Algorand has the best looking chart i see. will take some time. But it is a very solid team and project.
It's the best iso2022 project out of all of them
Hbar hitting support from Nov 2021 Hbar is in a bear flag and hitting resistant trend from bull market.
How can it possibly pass those obstacles?
ALGUSD - Bullish Butterfly Pattern on 1 hrALGUSD formed a bullish butterfly pattern and the harmonic ratios on pattern are almost very close to the original pattern. Although it came down a little but if it holds the Potential Reversal Zone (PRZ) then this bullish butterfly pattern is intact and if the neckline is broken then the bullish trend will start.
ALGUSD Bullish reversal gartleyALG vs USD is making a bullish reversal Gartley pattern. Long entry can make us profitable
ALGO|USD 4H Trade SetupRound 2 on Algorand
Looking at a solid trade setup on the 4H time frame
Trade:
-SL - Under $0.218
-TP - Green Box
-5/1 Potential
Reason:
-Looks like a pivot point here at support
-RSI moving into bullish control
-MACD getting tighter
-Similar coins have already taken off
AGLOUSDT - Bullish BAT Harmonic Reversal Pattern - Sell StopWe have observed Bullish Harmonic Reversal Pattern and we are taking sell-stop entry if the price breaks down from point B. We will take another entry of buy stop if the trend reverses from point D which is also a Potential reversal Zone (PRZ) after the confirmation of bullish divergence on RSI and new trend formation with HH and HLs .
ALGO|USD on DailyIt's Algorands turn for some time in the sun. Quick little trade set up here, mine is 3/1 with a tight stop at 4% and take profit at 13% in the green box. The RSI is breaking out with increasing volume and we just got above a strong inflection point.
Happy Trading!
Algorand short trade ideaAlgo forming obvious Bearish Flag on 30 min chart. Looking for a price to hit POC. Marked profits target as well and as always wait for the confirmation.
Disclaimer - my first public trading idea any sort of constructive input more then welcome.
Diversions - ALGUSD - Expected Bearish ReversalDiversions - ALGUSD - Possible Uptrend Follows and of Bearish trend
ALGUSD (BEARISH)ALGUSD is still showing a bearish trend, There is no divergence seen using the momentum indicator (RSI). You can take the possible entry at Entry Point at 0.22344907 using fib tool and put a Stop Loss at 0.24372721. Your Take Profit point will be at 0.20317161 and your take profit point 2 will be 0.18286381. Your Risk to Reward ratio is 1:1 at 10k fund number of coins you have to short at this ratio is 4931.4
ALGOUSD-1H - Brea Trend Analysis:
ALGOUSD-1H is currently in a bearish trend. We can enter in a short trade as the chart just printed bearish candle stick pattern. For this trade the stop loss will be at 0.2440 which is the previous lower high level.
------ Trade ------
Chart: ALGOUSD-1H
Type: Short
Entry: 0.2292
Stop Loss: 0.2440
TP1: 0.2144
TP2: 0.1996
AGLUSD - Crypto | Bearish Trend - MARKET EXECUTION ORDER 30 MinsAGLUSD is a Crypto coin showing a Bearish Trend with LLs and LHs . It is expected that this trend will continue further.
We are taking a market execution order because it has formed 3 black crows candles which shows a strong confirmation of bearish continuity.
algorandSetting a nice triangle patter. Given how strong crypto space is, momentum squeeze to continue
$ALGO - Weekly Analysis 2.18.23Good day, everyone.
I hope you are doing well. It appears that $ALGO is still respecting the trendline and looking relatively strong. The relative strength index for the week thus far is 46.09 as pf today. Support is at $0.25 and the line of resistance is at $0.28. Last week, $ALGO did break resistance of $0.28, but it came back down.
Let's hope for a great week for Alogrand as well as for your financial trades.
This is not financial advice and please do your research. :)
Algo with perfect retest of green channel tl as supportPerfect support retest of the bottom trendline of the green horizontals channel. In reaching there price also broke above the purple falling wedge…we can also see now that price is testing the turquoise neckline of an inverse head and shoulders as well. I have put the inverse head and shoulder target and the falling wedge targets on the chart for now. Will add the channel breakout target if/when we get closer to its top trendline. *not financial advice*
$ALGO Weekly ChartGood day, everyone.
I hope you are doing well. Algorand has been moving up weekly since December 26, 2022. I believe resistance will be tested at $0.28 this week if the trend continues. I would like to see the resistance become support and begin its battle at $0.31. Let's hope for the best!
Also, my analysis is not financial advise. Please do your own research.
I'll update this weekly chart next week. Cheers!
Humans love patterns.Looking at the history of ALGO, I feel we are in a growth phase.
Patterns are human nature.
Good health, wealth and family to all!
