ALGOUSD trade ideas
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.
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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)
ALGOSitting pretty on 200d MA
However, one thing that I dont like is RSI levels are lower than Oct 6th dip at the same levels. Buying with a very tight stop loss.
ALGO. good for long term i think.ALGO has been a good coin. it's doing well when a lot of coins have struggled. that is a sign of a coin that isn't at the mercy of mercurial consumer sentiment, as much as it's possible to say that in the money markets.
Algorand (ALGO) - October 10Hello?
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(ALGOUSD 1W Chart) - Medium to Long-Term Perspective
Above 0.76754798 point: uptrend expected to continue
(1D chart)
First resistance section: 2.11836146-2.25112275
Second resistance section: near 2.51664536
First support section: near point 1.72007755
Second support section: 1.18903235-1.32179365
If the price is maintained in the range of 1.72007755-2.11836146, the uptrend is expected to continue.
However, it is recommended to maintain the price beyond the psychological support and resistance zone formed in the 1.90329264-1.97455023 zone.
The first resistance section is an important section that determines the trend.
So, if it rises to the first resistance zone, you need to check whether the price holds.
If you fall from the first support, you can touch the second support, so you need a short stop loss.
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(ALGOBTC 1W Chart) - Mid/long-term perspective
Bottom sideways section: 1970 Satoshi-4309 Satoshi section
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
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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.
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** 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 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 can be made through split trading. It is a short-term investment perspective.)
ALGOUSD 1Wtest
Algorand is an inclusive and transparent system in which anyone can build prosperity through decentralized applications and projects, no matter where they are. The platform gives developers, enterprises, universities, and investors opportunities to participate in trusted, credible blockchain development.
Algorand uses a Proof-of-Stake (PoS) consensus mechanism, and distributes validator rewards to all holders of its native ALGO cryptocurrency.
Algo in a good buy zone, but still under down TLPrice looks nice and bullish on larger time frames. Currently in pullback.
Im buying 2% of account as it sits in 1hr 38.2 .5 fib zone. Will buy more at down trend line break.
Big buy level at about 1.10, is 618 trend based fib zone and demand zone. Notice the previous wick there.
Also great looking team for position holds long term.
Happy Trading!
