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ALGOUSD trade ideas

ALGO - One More Confirmation To Shoot!ALGO is overall bullish from a long-term perspective and it is currently in the corrective phase. Since it approaching a demand/support area, we will be looking for buy setups to catch the next impulse. Before we buy, we want the buyers to prove that they are taking over again. You don't want to buy a bearish market right? ALGO formed a channel in blue and broke it upward, then got stuck inside the red channel. So for the buyers to fully take over, we need to see a break above the previous swing highs. Our upper red 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 and can still test the green demand/support zone before going up. In this case, we will be looking for new buy setups to form. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
COINBASE:ALGOUSDLong
by TheSignalyst
51
ALGO dropping.ALGO finished the Adam and Eve pattern and retested the neck line. Price is now dropping to the .67 then the .52 resistance areas. In the short term I'm bear on ALGO. In the long term, after this cycle completes, I'll be holding until a price in the $5-10 range while collecting an APY. In my opinion the current midterm trend dictates a price of $.50 - .70. My thoughts on ALGO, holding offers a 6.35% on staked coins. Not a bad return on savings in my opinion. The cap on minted ALGO coins is 4billion and the adoption of ALGO looks promising. Transfer rates appear to be very fast compared to competitors like ETH. Amount of transfers per second is higher than ADA and DOT. ALGO Foundation states they want the market place to dictate the price of coins. I'd assume as coins are held to capitalize on the APY the price may increase as the amount of coins in circulation decreases. This could trigger more holders to sell and take some profit which would increase the coins in circulation. I'm curious to see how this model of Supply v. Demand plays out in the real world.
COINBASE:ALGOUSDShort
by etw01
2
Crypto Market & ALGOUSD Technical Analysis & Predictions 3/12/21*DISCLAIMER: I am not a financial advisor and this is not financial advice or a recommendation to buy or sell as these are purely my opinions and speculations. I may also own or trade any of the symbols and cryptocurrencies mentioned in this video so do not make your trading or investing decisions based on this video. I do not guarantee any results nor am I responsible for your actions. You should always do your own due diligence before trading or investing in this market as it is extremely risky. Affiliate links are also included in this same video description section here and if you decide to support me by using any of them, I may receive a referral bonus or commission. *Follow me for the latest cryptocurrency analyses on my watchlist *Thank you to those who donated, I very much appreciate it. *Let me know in the comment section if you agree or disagree, would love to hear your ideas too.
COINBASE:ALGOUSD
by CryptoRush_
2
Interesting outlookLooks like the sellers are running out of stream and buyers are jumping in. look at the TTM, there is a squeeze forming for a pent-up buyers to jump in. ADX indictor is above 20 for aggressive buying. Candlestick is resting on support and it looks like a green morning star daily candlestick that indicators trend reserval for the upside, waiting for some massive buyers to jump in an uptrend channel as you can see in the chart. Even though is March 12, Crypto Darkest Day today because of the pandemic hit a year ago. Use caution. Educational Purposes Only.
COINBASE:ALGOUSDLong
by riestas241
1
Algorand LongAlgorand is a sleeping giant. We have seen Polkadot, Cardano, and Eth explode but we haven't seen Algorand make a huge move? I think it's overdue for it especially when people start to realize its superior to the coins listed above in certain aspects and it has the potential to be used commercially. It could also be used for derivatives and completely revolutionize the monetary system within those ecosystems resulting in cheaper and faster transaction settlement that doesn't require a middleman. This isn't financial advice but I'm balls deep in Algorand. KRAKEN:ALGOUSD
KRAKEN:ALGOUSDLong
by OG-Hunter
11