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ALGOUSD trade ideas

Algorand (ALGO) - June 15Hello? Welcome, traders. By "following", 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) We need to see if we can move higher from the 0.92350974-1.18903235 zone and move above the downtrend line. If it finds support by moving up to the 1.18903235-1.32179365 section, it is expected to lead to further upside. However, if it declines, it is expected that the downward trend will continue, so careful trading is required. ------------------------------------- (ALGOBTC 1W chart) To create a new wave, it must rise above the 4309 Satoshi point. It remains to be seen if support at the 2452 Satoshi point can be found and continue the uptrend along the uptrend line. If it falls below the 1970 Satoshi point, it may take a long time to rise as it enters the mid- to long-term investment area. Therefore, careful trading is required. (1D chart) It remains to be seen if we can climb to the 2792 satoshi-3000 satoshi section. If it falls from the 2374 Satoshi point, Stop Loss is required to preserve profit and loss. If it does not fall below the downtrend line, it is likely to rise, so careful trading is required. ------------------------------------------ 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 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 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 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
$4.77 Target for AlgoLike all of crypto... Algo has had a massive wave 4 pullback as the market was over extended, but as we look at the charts we can see that the STOCH RSI on the weekly is as low as it can go and basically on the floor. If BTC can start to recover in the coming weeks and get above $42k then we should see an ALT rally in July and Aug and this should lead us through wave 5 and Fib 2.618 target around $4.77 for Algo. The key is BTC continuation and ALT rally and we should be golden for Algo. Not financial advice.
KRAKEN:ALGOUSDLong
by EMA34TRADER
ALGORAND - Buy Setup Forming!As per one of my ideas, we were waiting for ALGO to approach the green support to look for buy setups. (attached below) Then we looked for a buy setup on H1 (also attached below) NOW WHAT? ALGO is still sitting around the green support and getting stuck in a range in the shape of a big ascending triangle as you can see in red. Before we buy, we want the buyers to prove that they are taking over again. on H4: we will be waiting for ALGO to break (candle close) the ascending triangle upward (projection in purple) preferably after forming a new swing high around it. Meanwhile, until the buy is activated, ALGO can still test the green support before upward. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BINANCE:ALGOUSD
by TheSignalyst
19
Are 'staking altcoins' a safe play right now?FWIW, this is not financial advice - it is a dubious idea at best. I'm looking to 'chew back' some lost profit by very small simple trading on the larger altcoins that pose a second opportunity for traders than just price alone. I have drawn out some simple upward trendlines and an area of resistance that will be difficult to cross. Algorand bounced off an upward trendline and I bought in at that price. I sold Algorand profit at the top trendline. I am using the crossing below the 21-period EMA as the point that I am selling off the remainder. That is currently 1.02. Again FWIW and not at all a recommendation. Don't let this market or the doom-and-gloom get you down. Yes it may very well come crashing down. But that doesn't prevent us from making money in the meantime. We're in it to win it!
COINBASE:ALGOUSD
by chillcrypto
ALGO - Big Resistance Ahead, Looking For a BreakoutAs illustrated ALGO needs to break out of the strong resistance formed on top of the triangle, whose formation indicates sellers loosing steam for the moment. This resistance is both a local resistance in the triangle formation and the bottom of the trendline established last month and possible retracement point (the red line). So long as the price remains above its current ascending support I would say that ALGO is in range for a breakout. Let's see what happens!
COINBASE:ALGOUSD
by benjo93
ALGO - Wait for the BreakoutMany are expecting another crypto flash crash soon and there has been a lot of selling pressure. However, I believe a strong support has been established as buyers continue to accumulate at the $0.80-$0.85 range. Both the range and standard deviation have narrowed which typically precedes a breakout. This tug-of-war between buyers and sellers has created a triangle pattern in which the final breakout will cause a large swing in the market. If we see a breakout above the local descending resistance, we will likely see a retest of around $0.94 If so, I will look for buy setups on the retest. Let's see what happens!
COINBASE:ALGOUSD
by benjo93