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ALGOUSD trade ideas

ALGOUSD - Bullish idea on the daily timeframeHello traders and investors, Today we have looked at the ALGO / USD pair. Assuming that 2020 March low is the beginning of a primary cycle (purple) and that 2021 February high is the beginning of extension in primary wave 3 (hence intermediate blue wave 1), I can only be extremely bullish that we are in a 1-2-1-2-1-2 pattern that is unfolding towards new (incredible) high. Looking at possible targets, I see a confluence of Fibonacci for primary pink 3 (2.618) and possible ends of intermediate blue wave 5 (200%). This is a bullish idea that still needs to unfold in the next couple months. What's your target?
COINBASE:ALGOUSDLong
by Dry-Storm
4
Algorand (Algo) - Gearing Up for Something Big.Hi everyone, Algorand is a promising project with a great team. The chart also looks fantastic, being in a very pronounced uptrend since around April 2020. This uptrend has involved previous resistance being turned into support, something which I believe is happening now. Due to the promising nature of the project and it's having a very modest market cap of $8 billion (lol), I believe that Algorand will go much higher. How much higher is difficult to say, but assuming a total crypto market cap of between 6-12 trillion $ by the end of this bull market, and assuming that Algorand continues to gain market share relative to its peers in the top 20 (from projects like litecoin, cro, and xrp for example), a market cap above 40 billion seems exceedingly likely, and thus an Algo above $5. Watch this space. Take care everyone and happy holidays! Jason
COINBASE:ALGOUSDLong
by JasonMP91
Strong Uptrend from Powell and his Talk today!Many were wondering what the catalyst would be to help propel us out of the crypto slump and though the higher level timeframes depict bearishness across the board, such as the Weekly and Monthly timeframes on most Cryptocurrencies, we are due for one last Santa Clause Rally. During the day earlier today, the Fed talk caused a precipitous drop in the VIX and it's ETF Derivative Investments such as UVXY and a Rally in Equities and Cryptocurrencies. This has left many currencies, including Algo propped up by strong support levels, consolidating and ready for the next leg up! As you can see in my shorter term chart, Algo has consolidated just above the 200 SMA into a sideways symmetrical triangle and has obeyed the strongest Fibonacci Level, which is .236 or 23.6% (the shallowest correction in terms of fib ratios). In theory, the extension should run up to the reciprocal of the fibonacci ratio added to the bottom of the retracement, so 1/.236, which = 4.237, but I'm looking at the conservative target, assuming our breakout holds of 1.618 which is at 1.55 short term. After that I will reanalyze things.
COINBASE:ALGOUSDLong
by candlestickninja
#ALGO Algorand 1D - Bearish Divergence in sightI am looking at the 1D chart for Algorand. I show the top and bottom multi-year trendlines and it seems that we may have some downside to go possibly based on historical trends. I showed a possible fractal from the past that may play out again. Lastly and most important, on the daily chart there is bearish divergence. This may be a good indicator of what's to come in the future. What are your opinions on this? Comment below, hit the like and follow me. Thank you! Check out more below for recent Altcoin, Bitcoin and Stock Ideas. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk #bitcoin #altcoins
COINBASE:ALGOUSDShort
by MillionaireEconomics
4
Algorand (ALGO) - December 7Hello? Welcome, traders. If you "follow", you can always get new information quickly. Please also click "Like". Have a nice day. ------------------------------------- (ALGOUSD 1W Chart) - Mid-Long-Term Perspective Above 0.76754798 point: Expected to create a new wave. (1D chart) First resistance section: near point 2.30117362 Second resistance section: 2.84473154-3.02591751 First support section: near point 1.21405778 Second support section: 0.67049985-0.85168582 A move above the 1.97455023 point is needed to see if it can accelerate the uptrend. If they do, they should check to see if they find support at the 1.57642973-1.75761570 zone. The price should hold above the 1.35658321 point to continue the uptrend. Accordingly, a short-term Stop Loss is required if the price declines from the 1.57642973 point. ------------------------------------------ (ALGOBTC 1W chart) 6469 Satoshi point or higher: Expected to create a new wave. Above the 2886 Satoshi point: It is likely to turn into an uptrend and continue the uptrend. ------------------------------------------ We recommend that you trade with your average unit price. This is because, if the price is below your average unit price, whether the price trend is in an upward trend or a downward trend, there is a high possibility that you will not be able to get a big profit due to the psychological burden. The center of all trading starts with the average unit price at which 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, ultimately allowing the funds corresponding to the profits to be able to regenerate themselves. ------------------------------------------------------------ ------------------------------------------- ** All indicators are lagging indicators. Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume. However, for convenience, we are talking in reverse for the interpretation of the indicator. ** The MRHAB-O and MRHAB-B indicators used in the chart are indicators of our channel that have not been released yet. (Since it was not disclosed, you can use this chart without any restrictions by sharing this chart and copying and pasting the indicators.) ** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator. Therefore, the interpretation is the same as the traditional 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 disclosed by oh92. (Thanks for this.) ** Support or resistance is based on the closing price of the 1D chart. ** All descriptions are for reference only and do not guarantee a profit or loss in investment. (Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.) ---------------------------------
BINANCE:ALGOUSD
by readCrypto
5
Algo is a favoriteAnthony scaramucci ~ "The Future is bright. The more you learn about ⁦ @Algorand the more you will realize how big a part of the future it be. Carbon Negative Crypto. " For some reason this crypto resonates as a whole with me. Fundamentally and technically, from a logical viewpoint. While Mr BTC or ALTS may actually be entering a bear period for a while, this may not stop ALGO from rising. Remember when the market was down earlier this year and ALGO was rising? BTC dumping could actually prove another chance for ALGO to break from this irrational correlation. I mean it's not like BTC is the S&P and ALGO is one of it's featured companies. Money outflow from crypto will only be when IR rise. You can see every dip is bought perfectly on RSI bouncing off the trendline. If we retest 200EMA I will expect another huge buying opportunity, that being said any price sub 2$ resistance is a great entry point if you are thinking 2025 and beyond. Keep accumulating and staking my friends, even take a small leverage position on FTX if your feeling this ;P (Disclaimer not financial advice, just rational thought and a little bias)
COINBASE:ALGOUSDLong
by jackohgorman