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ALGOUSD trade ideas

Next Local Top AnalysisBased on the last 5 months, measuring from the local bottom to the local top, I've drawn the purple box as a target area for the next three weeks. All 5 of the last month's lines are there in white, to see historically what has happened. The month of July had to smallest and slowest increase, which really addded a lot of body to the target box. The yellow circle is where I expect the next local bottom to be, after a great increase in price, and the inevitable correction afterward. Algorand is the blockchain that will propel the world into web3, FutureFi, DeFi, or whatever else they're calling it these days. It has been in operation for 2 full years with zero downtime, the only blockchain that can say that (so far).
COINBASE:ALGOUSDLong
by FOMORON
Algorand (ALGO) - July 18Hello? Welcome, traders. If you "follow", you can always get new information quickly. Please also click "Like". Have a good day. ------------------------------------- (ALGOUSD 1W Chart) If the price holds above the 0.76754798 point, we expect the uptrend to continue. (1D chart) If the price is maintained in the 0.65798713-0.92350974 range, it is expected to turn into an upward trend. If it falls in the range of 0.52522584-0.65798713, there is a possibility of entering the mid- to long-term investment area, so careful trading is required. A move above the 0.92350974 point would suggest a move to break above the downtrend line. ------------------------------------- (ALGOBTC 1W chart) If it rises in the sideways section of 1075 Satoshi-4309 Satoshi, it is expected to create a new wave. (1D chart) If the price is maintained in the 2374 Satoshi-2792 Satoshi section, it is expected that the upward trend will continue. If it falls from the 2374 satoshi point, it can touch the 1747 satoshi-1956 satoshi section, so Stop Loss is necessary to preserve profit and loss. However, since it will be located within the section that previously showed the volatility of the 716 Satoshi-3888 Satoshi section, you need to think about how to set up a buying opportunity. ------------------------------------------ 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 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.) ** See support, resistance, and abbreviation points. ** 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. Explanation of abbreviations displayed in the chart R: A point or section of resistance that requires a response to preserve profits. S-L : Stop Loss point or section S: A point or section where you can buy to make a profit as a support point or section (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.) GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they are not traded 24 hours a day. G1 : Closing price when closed G2: Opening price (Example) Gap (G1-G2)
BINANCE:ALGOUSD
by readCrypto
Algorand looking for a Green FridayThis is the 1 hr chart & as you see here we are coming off a nice Bull run since the 22nd. Using the Fib Retracement tool, it indicates we may see some big movement coming. Typically what happens once you hit the .618 line it's followed by a nice Bullish push in this case upwards of .90+ as we move through Friday morning. We are also in a wedge pattern as we have already completed 4 out of the 5 Elliott wave points, so the next time we cross over a resistance it should indicate which direction we are headed. We very well could hit a bearish reversal & be on our way back down to .79 & see a bit of consolidation.
KRAKEN:ALGOUSDLong
by Kyle_Kinnaird
ALGOUSD H8: BEST Level to SHORT IT 25/35% gains(SL/TP)(NEW)Why get subbed to me on Tradingview? -TOP author on TradingView -15+ years experience in markets -Professional chart break downs -Supply/Demand Zones -TD9 counts / combo review -Key S/R levels -No junk on my charts -Frequent updates -Covering FX/crypto/US stocks -24/7 uptime so constant updates ALGOUSD H8: BEST Level to SHORT IT 25/35% gains(SL/TP)(NEW) IMPORTANT NOTE: speculative setup. do your own due dill. use STOP LOSS. don't overleverage. Tagged as SHORT as I expect more losses short and mid term. 🔸 Summary and potential trade setup ::: ALGOUSD 8hour chart review/outlook ::: compression into wedge now ::: breakdown pending ::: expecting 25%/35% correction ::: shorting from here is a nice trade ::: BEARS will target recent cycle lows ::: TP Bears is +25%/+35% gains ::: no valid setups for bulls now ::: later after pullback/correction ::: bulls may look at buying low ::: recommended strategy: SHORT IT ::: short at market / short rallies/rips ::: SWING TRADE: SHORT/HOLD IT ::: correction not over yet ::: good luck traders! ::: SHORT and get paid. period. 🔸 Supply/Demand Zones ::: N/A ::: N/A 🔸 Other noteworthy technicals/fundies ::: TD9 /Combo update: N/A ::: Sentiment mid-term: BEARS ::: Sentiment outlook short-term: BEARS RISK DISCLAIMER: Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
COINBASE:ALGOUSDShort
by ProjectSyndicate
3
ALGO's ascending triangle is ready for a breakout!Algorand (ALGO) has formed an ascending triangle pattern on the 4-hour chart. ALGO has been following a higher rising trendline but found repeated resistance around the $0.924 level. We’re currently at a point where the price can soon break on either side as the price congestion is becoming tighter and tighter. Ascending Triangle Price Target In technical analysis, the ascending triangle is a bullish chart pattern, but since the long term trend is bearish, we can’t rule out the possibility of a downside breakout either. Generally, the profit target for the ascending triangle is the measured triangle depth which is added to the flat resistance line projected to the upside. In our case, the price target is the $1.180 level. But first, we need the breakout to the upside to hold above the resistance level of $0.924. Money Flow Index The Money Flow Index (MFI) signals a positive buying pressure as the MFI readings have been constantly above the mid-level 50 while we were developing this ascending triangle. The MFI can also be used to gauge any downside breakout. If we break below the upward sloping trendline, but the MFI remains above the 50 level, it might be a false breakout signal. In this case, we would need to readjust the trendline to fit in the new price developments. Looking Ahead: The next big hurdle that the bulls need to overcome besides the triangle flat resistance level is the vital psychological number $1.0.
COINBASE:ALGOUSD
by cryptohopper
Algorand on its way too .95+ for next weekWe're currently in a Uptrend, approaching the lower resistance of this trend & the Fib resistance which is a great opportunity for a Touch & Go. Also if you take a look at the RSI we touched the Oversold indicator which usually leads to a nice bull run, this would send us towards the upper trend resistance. If we end up breaking the lower resistance we may consolidate in the mid to low .80's as we move through the weekend. *Not Financial Advice
KRAKEN:ALGOUSDLong
by Kyle_Kinnaird