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ALGOUSD trade ideas
ALGO - Potential Bullish Continuation!Hello everyone, if you like the idea, do not forget to support with a like and follow.
ALGO is trying to break the orange support/resistance again.
on H4: ALGO is forming a symmetrical triangle in blue but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above the gray zone.
Meanwhile, until the buy is activated, ALGO would be overall bearish can still trade lower.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
ALGORAND 4hrBroke the resistance, ready to PUMP.
Algo have been in this triangle pattern for more than a month.
Since btc reached its all time high, it shows how bullish market is.
So we expect algo to pump.
ALGO TradeALGO Trade had a hammer bouncing at a strong support forming a morning star reversal, bouncing off the 50 ema, with momo triggered at the begging of a new moon, Bitcoin seemed to had sold off into Etherium which was selling off into the alt coins. The hammer had already closed so I did a market buy because all ready 100% knew I wanted to be in the trade. Didnt hit the target but almost! Was interesting to see the flow of the Bitty into Etherium, into the alt coins happen within a span of 6 or so hours.
Symmetrical Triangle on ALGO/USD DailyOn the daily chart is a symmetrical triangle forming which should lead to a nice up move if price breaks through.
Algorand DCA AdvancementsAlgorand is poised for gains. The yellow rays are my DCA points thus far. I am using this simple chart to track its trajectory.
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It's almost $ALGO time$ALGO has been consolidating for weeks now, since the mid-september move after hitting 2.50.
The 1.55 area has shown strong support after being tested multiple times in late September. Each time on less and less volume, indicating that selling pressure is waning.
Price is currently bouncing off its 50EMA and the bollinger bands are tightening. I still think we could see one more retest of that 1.55 area but if price breaks its downtrend line then my gut might be wrong.
RSI is peaking above its short term downtrend line and the MACD is a few days away from a crossover.
Keep your eye on this one.
Algo Update - ABCDE Algo is looking pretty good. I think we have one more drop to the 1.60-1.65 area before we head up towards 2.20. This is just a potential play that I am currently keeping my eye on.
Thanks for viewing my post!
Algo As long as algo remains above 1.53$-1.60 we could see a big move. Consolidation above precious resistance. This could be setting up big time
Potential Nice Trade Set UpIf algo breaks out of the triangle to the downside we could see a strong bounce off support. 1.65 is a pretty good entry and target would be 2.15. All dependent on Btc.
You've got to give me a like when this plays outPop that top resistance we off to the races with new ATH. We all know it stop playing yourself bears. oh and uh... LETS GO BRANDON
ALGO updated ideaProbably will make serious run by end of Nov. Right now there will be other coins that run before ALGO because it already made ATH in Sept.
Algo on a down. Market at 25%First Red line is 25%. 2nd line is 50%. I will stop if it gets to 50%
All Green lines are my profits
ALGO Breakout IncomingALGO bouncing off the 50 day, making a higher low and pushing right up against the downtrend. Looks ready to make a breakout attempt.
8 month base here, similar to ATOM. Longer the base, higher in space
Bearish Divergence Weekly Time FrameAlgo formed bearish divergence on the weekly chart could see a drop back down to the support of this channel before heading up to try all time high. Still long term bullish on Algo just think we could see a drop sometime soon.
Algo - Ready To Go!UPT: 1.9
DPT: 1.6
MACD: Bullish Divergence
Stoch RSI: Oversold Conditions
Awaiting breakout from the descending red trend line and out the green rectangle.
More power to all your trades, my friends!
Ron
Intrepid_Trader
$ALGO buy set-upsBetween the two scenarios, A & B, I think scenario A is more likely so I'm looking for a breakout above this downtrend line.
Scenario A looks likely because of an MACD cross, strong bounce off the lower bound of the channel, showing strength. Looks like it is about to test RSI at 50.
With ETH fees going through the roof and ALGO being put to the test with more and more transactions per second while maintaining fees below $.01 I think ALGO will flip ETH eventually unless ETH fixes the gas fee problem or ALGO can't maintain its low fees while scaling.
If scenario B happens, I will be looking to buy more once it bounces off the lower bound of the channel.
Long ALGO. Strong support at 1.5538
4% for staking your Algorand on Coinbase. Nice to own an appreciating asset that also has interest.
ALGOUSD LONGALGO is an interesting asset to trade on. It has broken many resistance and seen sharp uptrends in recent times. In my chart, I have a forecast showing how ALGORAND will break the 2.1997 resistance in it's next bull.
Algorand ($ALGO) New FIBAlgorand ($ALGO) New FIB: BEARS rule the day and profit takers lock in their gains (or panic sellers selling for a loss). RSI is losing strength and MACD is BEAR-ish
ALGORANDO for a BILBOFor all you stakers out there, Rib Eye or Sirloin? Option A or B? - algorand.foundation
Leading up to the voting period for Governance, we could see a breakout from the 200 EMA.
The trendline is strong and everytime it retests we see a bounce upwards, paired with the fact we are consolidating.
Many buy the dip opportunities or to DCA at $1.50-$1.7
Also looks like we'll get rewards in the sub 2B mark.
Good luck fellow ALGONAUTS and bagginses.
(Disclaimer - not financial advice, just rational research into one of the most underrated projects)
