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ALGOUSD trade ideas

$ALGO Symmetrical TriangleRSI is showing strength maintaining above the 46 level. The 50-day MA passed up through the 200-day MA signifying a Golden Cross. MACD doesn't look the greatest but does appear to be moving in the right direction. Scenario A: break-out of the triangle, zoom towards previous ATH, contend with it momentarily and then make new ATH Scenario B: breakdown out of the triangle, fall towards 200-day MA or previous support. Which scenario do you think is more likely? Imagine when ALGO gets the market cap of ADA or SOL... Algorand would be at about $11 if that were the case based on current market caps at the time of this post. Weekly Chart:
COINBASE:ALGOUSDLong
by EBITDAtiger
ALGO to remain in correction phase above $1.75The Algorand price analysis shows that the ALGO/USD is correcting today. A decrease in price has been observed as bears are ruling the charts today. ALGO remained bullish for the last four days, and the price uplifted during that time but to a limited extent. Overall, ALGO has been following a wave pattern for more than a month and has been unable to break above the $2.3 level. Only one high swing was observed during the past weeks when ALGO went as high as $2.05 on 25th October, followed by a reversal of the same even higher magnitude when ALGO stooped down to $1.79 on 27th October. Since then, the price oscillation has been small.
COINBASE:ALGOUSDLong
by BernardMikhail1
1
ALGO - Critical Times!Hello everyone, if you like the idea, do not forget to support with a like and follow. After breaking the orange resistance, ALGO has been stuck inside a range in the shape of a symmetrical triangle highlighted in purple. For the bulls to take over, we need to see a break above the upper bound 2.13 marked in blue. In this case, a bullish trend continuation would be expected till 3.0 In parallel, for the bears to take over, we need a break below the lower bound 1.55 marked in red. In this case, a bearish reversal would be expected till around 1.0 where we will be looking for buy setups. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BINANCE:ALGOUSD
by TheSignalyst
38
Algorand (ALGO) - October 27Hello? Welcome, traders. By "following", 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: uptrend expected to continue (1D chart) First resistance section: near point 2.30117362 Second resistance section: 2.84473154-3.02591751 Support section: 1.57642973-1.75761570 If the price holds above the 1.97455023 point, I would expect a move to break above the first resistance level. If the price declines from the 1.65442767 point, it may touch the support zone, so trade cautiously. A move from the support area could lead to a move near the 1.21405778 point, requiring a short-term Stop Loss. However, if support is found near the 1.35658321 point, it is expected to rise to the support section, so countermeasures should be considered. ------------------------------------------ (ALGOBTC 1W Chart) - Mid- to long-term perspective 6469 Satoshi point or higher: Expected to create a new wave. (1D chart) First resistance section: near the 4309 Satoshi point Second resistance section: near the 6469 Satoshi point Support section: 2452 Satoshi-2886 Satoshi section We need to see if we can find support in the support zone and move up to the first resistance zone. In the medium to long term and in the short term, the 2886 Satoshi point or higher is considered to be a jumping-off section for rising. ------------------------------------------ We recommend that you trade with your average unit price. This is because, if the price is below your average unit price, whether it is in an uptrend or in a downtrend, 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 regenerate themselves. ------------------------------------------------------------ ----------------------------------------------------- ** All indicators are lagging indicators. Therefore, it is important to be aware that the indicator moves accordingly as price and volume move. However, for the sake of 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 yet been released. (Because it is not public, 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 through split trading. It is a short-term investment perspective.)
BINANCE:ALGOUSD
by readCrypto
1
Buy opportunity ALGO/USDTHi there, I have my eye on this buy opportunity. I think the resistance has broken at 1.99. Also, I think the consolidation is no longer valid because the price has broken out. In these situations, I wait for the retest on the support/resistance area. The only thing I miss is the confirmation of the Fibonacci. This makes the trade riskier. In addition, a similar outbreak could also be a trap to screw people who go long. Therefore, always do your own research and use good risk management.
COINBASE:ALGOUSDLong
by MerijnTrades
2
Crypto ALGOUSD (Bullish Breakout is in the making)View on Crypto ALGOUSDT (17 Oct 2021) There are buzz around network coins and ALGO shall be the one that follow Solana footstep. $1.5 region is a strong support session and $2 will be a strong resistant. Once $2 is broken up $2.4~$2.5 will be a strong resistant. Let's see. DYODD, all the best and read the disclaimer too. Feel Free to "Follow", press "LIKE" "Comment". Thank You! Legal Risk Disclosure: Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor. DISCLAIMER: Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice. Sonicr Mastery Team does not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
COINBASE:ALGOUSD
by SonicDeejay
2
MY NOT SO MINIMALIST ANALYSIS OF ALGORAND$ALGO 10.25.21 1931H +8 SINGAPORE ALERT: About time for $ALGO to PUSH UPWARDS. Disclaimer: The findings of the following analysis are the sole opinions of the publisher of this idea and should not be taken as a piece of investment advice. "FOLLOW THE WHITE RABBIT!" HOW TO USE THIS MINIMALIST CHART Created on a MONTHLY, WEEKLY & DAILY Analysis (The Dynamics of the Market.) It is designed for SWING TRADES at the BOTTOM. I do not SHORT, though, you can still use it. The LARGE BOXES (Tops and Bottoms) are MAJOR pivot points that will occur, while the SMALL BOXES (Tops and Bottoms) are MINOR pivot points. These can be entries to a BUY/ SELL POSITION, EXIT/PARTIAL EXIT/TOP-UP AREAS and even if you wish to hold longer for a CONSERVATIVE MAXIMUM TARGET AREA OF VALUE (Depending on, if the conditions are right.) At times I include WAY BEYOND PARABOLIC Price TARGETS. Watch out for your Volume, Chart Patterns, Candlestick Math, Price Action, and especially your Fibs, Market Dynamics, and trading psychology. The above-mentioned is sufficient enough as a major deciding factor for this MINIMALIST CHART. Note: That This CHART is best used without indicators. (As we all know, they lag.)
COINBASE:ALGOUSDLong
by The_Crypto_Samurai
Confirmed #Algorand goes longAfter weeks of consolidation and a confirmation of a breakout on the top trend line in a symmetrical triangle... Along with upwards momentum shown below on the MACD I believe the next week will be very bullish for $ALGO. Even a retest of 2.50$ ATH price level is within reason. Additionally "Governance" on Algorand's blockchain currently has 1.88 billion $ALGO essentially being locked away from the circulating supply for high rewards until the New Year. If $BTC stays the course or even falls a bit in price $AGLO will be making some drastic moves. First profit level I anticipate is 2.10 then a sharp move upwards to 2.40 followed by a retest of the 2.5ATH Getting in under 2$ mark will make for some nice profits in the short term and in the long term the staking and governance rewards will have many traders coming back as return customers on this blue chip alt. -Cheers!
COINBASE:ALGOUSDLong
by goodluckbruce