ALGOUSD trade ideas
ALGO/USD: When not if...battle lines drawn under the golden pocket...when (not if) ALGO breaks $1.50, it will pump hard and fast.
ALGO alt Crypto BOOM?ALGO has seen exponential growth since last year.
I have plotted a few key indicators that allow you to understand the potential growth on this cryptocurrency. We have seen clear retracement on Fibonacci levels which could be used as BUY points. The key support and resistance levels could be plotted by drawing a Pitchfork , that clearly identifies these levels. Support and Resistance on the Pitchfork could be used as BUY and SELL points for swing traders, while HODLers could find more buying opportunities at any current price due to their hopes of exponential increase. The yellow bold line is used as a 'Schiff' line that is plotted using the pitchfork , breaking through this line could mean a break in the trend, we clearly see it bounce off this line.
Trade this alt coin in hopes of exponential growth, but beware, like other alt coins, it is not so STABLE.
This is published only for educational purposes
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Thierry
Leave a comment that is helpful or encouraging. Let's master the markets together
ALGO looking great.Here are some key resistance and support lines. I'll be looking to see if ALGO will hold the blue increased support levels and if it does not, I'll be looking for buy setups around $1.10 or below.
Note the MACD prior to the last massive swing up in February. We seem to be going through a similar pattern through March coming into April hanging around in the .025 to .05 range.
I'm excited for more ALGO action as we get further into this crypto market bull run.
+ this is my first published chart so I'll hopefully improve
ALGO Breaking Out!ALGO over $1.45 resistance can imply a 18% move back to $170 lvl area. The last 10 days has shown a nice rally from $1 lvl back to $1.45. We formed a nice bull pennant on the daily chart and right now looks to be breaking above. I will look to enter over $1.45 for a swing, SL at 1.38.
ALGO channel top once againAlgorand looks to be testing the top of an ascending channel (red dashed lines) once again similarly to how it did at the end of March.
A break here could be a great sign for ALGO as it could signal a new ATH , but there is also bearish divergence forming both on the 4-hour chart (blue lines) as well as on the daily chart . If resistance holds here, it could send the price sub-$1.20 if the bottom of the channel gets tested next. Additionally if channel support fails, it could send the price sub $1.
Ultimately any price changes in BTC could easily influence the direction over the next day, so there is much uncertainty here, but also much potential for the trend to change in either direction. ALGO looks to be interesting to keep an eye on either way over the next few hours/days.
Algorand flipping long term resistance into support, plus cup.Algorand seems to have formed a beautiful cup and is now flipping resistance into support. Long ago the company projected a $2.50 price target for this summer, and the pattern and project is right on track to reach those targets. Very bullish on this coin. Any vets agree/disagree?
ALGORAND Crypto! Strong GainsAfter checking some alt coins out, I came across ALGORAND ($ALGO). It is a cryptocurrency that has grown over 760% since its release last year. Fluctuations in the price and a fair amount of volatility give access to bigger gains (in terms of %) in a shorter period of time. It has shown great price increase which is why I decided to slowly get into it.
Let me know what you think, and drop some great alt coins in the comments!
Thierry
ALGO long targetting highsI'm long Algo here as it broke above and retested the 1.33 level. Targeting the highs
Possible divergence at ALGO
Algorand has had a good last week of recuperation with +30% boosted by the general recovery of all currencies especially the Altcoins.
2-3 days ago it bounced off the resistance of the bullish channel which it has not been able to break and came close to the $1.20 level where there was strong buying from the people.
Currently it is a bit far from both the EMA and MA 20 last sessions.
To note the clear bearish trend generated by the average volume in the last 5 sessions that could generate a bearish divergence to the price.
With all this I could expect a break towards the bottom of the channel that could coincide with the support of $1.18-1.20 and then bounce again to the top of the channel breaking all the resistances in between.
Algorand lleva una buena ultima semana de recuperación con un +30% impulsado por la recuperación general de todas las monedas especialmente de las Altcoins.
Hace 2-3 días reboto con la resistencia del canal alcista que no ha podido romper y se acercó a buscar los $1.20 donde hubo una fuerte compra por parte de la gente.
Actualmente se encuentra un poco lejos tanto de la EMA como la MA 20 ultimas sesiones.
A destacar la clara tendencia a la baja generada por la media del volumen en las ultimas 5 sesiones que eso podría generar una divergencia bajista al precio.
Con todo esto podría esperar un descanso hacia la parte baja del canal que podría coincidir con el soporte de los $1.18-1.20 para luego rebotar otra vez hacia la parte alta del canal rompiendo todas las resistencias de en medio.
Small downward channel up against fib lineWe're in a small downward channel right now, and we should bounce off the .382 fib line as well as that green line of support. It may re-test the top of the channel, but as it's getting squeezed, we should see a break out testing $1.47 with $1.35 as new low support
ALGOUSD inverse HEAD AND SHOULDERS?Algo looks like it is creating an inverse head and shoulders pattern. Lets see if it will complete the yellow line and break the neck line labeled with the purple arrow. If we can break out of this and the channel we can see us at our local high around $1.84. We can also view it as a cup and handle possibly
I like to keep my ideas short, brief, clean and clear right to the point. Do you own research. Good luck and happy trades this is not trading advice
Algorand small analysis noob learning. There are two different types of people in the world, those who want to know, and those who want to believe.
Friedrich Nietzsche
Algo 1hrMf oversold on support . I dont think it will go below but watch for a wickdown
. Not a rexomebdation.
Poised for a Breakout w/Algo!!!!Chart says it all. We are poised for a breakout on the hourly, all these wicks keep getting filled. ALGO TO LE MOOOOOON KRAKEN:ALGOUSD
TP1 - 2$
SL - None
Leverage - 10x
Broker - FTX
ohhhhhhhhhhhhhhhhhhhh ALGOAlgorand seems to building quite a beautiful structure for take off. Got rejected at the pesky $1.4 resistance- wicked above but didn't close above. If and when we close above the $1.4 level we should be on track to smash past the previous local high.
Just my 2 cents!
ALGO USD pennant, bullish continuationAfter breaking out a couple days ago, ALGO is consolidating for another leg up. If not already long, wait for confirmation of entry.
