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Algorand / TetherUS

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ALGOUSDT trade ideas

ALGOUSDT Long-term and Short-term ViewI think ALGO is a great project but I know it has been a frustrating investment journey. I believe we have completed an ABC correction off the launch price and now we are in the first wave of a new impulse to new highs. The target of this wave is the 0.382 retracement (around $1.19) from the B wave, which was a zigzag correction. I think we have completed wave 1 of this first impulse and are entering wave 3, for which the target is around $0.83. It is possible it might not be on the way up yet; price is currently at resistance and there could be more corrective price action before we head higher.
Long
by cultureofwoods
2
ALGO // Bearish Momentum on 1h // Possible SHORT Technical Analysis Summary: My technical analysis of ALGOUSDT on the 1-hour timeframe reveals bearish signals with the potential for price decreases. Here are my downside targets: Target 1: 0.20297 Target 2: 0.20164 Target 3: 0.19857 Supporting Indicators Relative Strength Index (RSI): Sell signal (42.932) Stochastic Oscillator (STOCH): Neutral (52.707), but could turn bearish Stochastic RSI (STOCHRSI): Oversold (0), suggesting a potential bounce before downtrend resumes Moving Average Convergence Divergence (MACD): Despite a 'Buy' signal (0), the overall trend leans bearish. Average Directional Index (ADX): Moderate trend (34.361). Williams %R: Deep in oversold territory (-95.181), potential for a short-term bounce. Commodity Channel Index (CCI): Strongly negative (-191.269), a bearish sign. Average True Range (ATR): Low volatility (0.0024) could mean limited price swings. Contrarian Viewpoint Potential factors that could challenge the bearish trend include: Unexpected positive news or a market-wide upward movement Short covering leading to a temporary price bounce Important Reminders Timeframe: Consider longer timeframes for a broader perspective. Volatility: Be mindful of cryptocurrency market volatility. Utilize stop-loss strategies, especially with short positions. Fundamentals: Monitor news and events influencing ALGO and the crypto market. Disclaimer: This analysis is for educational purposes. Trading carries risks. Conduct your own thorough research before making any decisions. Let's Discuss Do you see this bearish trend continuing? What are your thoughts on the potential downside targets?
Short
by AlgoBotTrading
ALGO - Don't Sleep on THIS ALTCOIN 💎Hi Traders, Investors and Speculators of Charts📈📉 Welcome to 2024🥂🥳 And with the new year, we've been focusing on altcoins that have great fundamentals AND great upside potential. Algorand is a decentralized network built to solve the Blockchain Trilemma of achieving speed, security, and decentralization simultaneously. Launched in June 2019 by computer scientist and MIT professor Silvio Micali, Algorand is a permission less, open-source blockchain network upon which anyone can build. Algorand is designed to be a payments-focused network with rapid transactions and a strong focus on achieving near-instant finality — that means processing over 1,000 transactions per second (TPS) and achieving transaction finality in less than five seconds. Algorand uses a Proof-of-Stake (PoS) consensus mechanism, and distributes validator rewards to all holders of its native ALGO cryptocurrency. Through strong throughput capacity and equitable community incentivization, Algorand is capable of managing the high-throughput requirements of widespread global usage and a variety of use cases. As a public smart contract blockchain that relies on staking, Algorand is currently capable of hosting decentralized application (dApp) development and providing scalability. Rising gas fees on Ethereum have led many dApp developers and decentralized finance (DeFi) traders to look for alternative blockchain solutions. Some have turned to Algorand as an Ethereum-alternative for dApp development and DeFi applications. Algorand is still "in prison", but holding the 50d Moving Averages is the first step towards a new bullish cycle. Look at all of this upside potential: If you found this content helpful, please remember to hit like and subscribe and never miss a moment in the markets. _______________________ 📢Follow us here on TradingView for daily updates📢 👍Hit like & Follow 👍 CryptoCheck
Long
by CryptoCheck-
✴️ Algorand Early Reversal Signals (Name Your Altcoin)We are going to look up close because our goal is to see if there is reversal potential, as the correction has been going long enough and the market is turning all around us. Algorand hit bottom in August. We have a higher low in September and a higher low in October (yesterday). Yesterday's session ended as a Doji which is a reversal signal. This session also has above-average rising volume. Summed up: - Higher lows that lead to a reversal signal supported with rising volume. These signals are early and weak but still valid. From this point on a reversal can develop if the bulls follow up. Additional confirmation comes when prices move above EMA10, EMA21, EMA50, etc. When the RSI and MACD turn bullish. When high volume shows up... This might be a bottom catch. Thanks a lot for your support. Namaste.
Long
by AlanSantana
1
ALGO Cup & Handle FormationMany alts still trading near the lows looking very bullish in preparation to breakout to the upside. Theyve been consolidating at the lows for very long time and ready to rock & roll. Entry here is a bit high in terms of risk:reward with the stop loss at the last low ~$0.15. I suspect a liquidity grad could take place first (retest the breakout) but that may not happen. You can also look for entry after move up along the top of the c&h line where resistance will be looking to turn into support, thats where bulls will be setting up their next move higher to take out shorts. Min target is $0.83 which is approx 4x from this 19c range. I would love to get a liquidity dip down to $0.10 before moving higher but that is unlikely to happen, possible but unlikely. ALGO has taken a very long time with price action so I dont mind entering higher than cycle low ~8c. *c to 25c was a sweet 3x for those of you who bought n took profits, so now lets focus on the move higher to retest that $0.80 to $1 zone The measured move (cup height) takes us to this zone. EW fib extension calculates to same zone, and we realign with the 0.236 fib retracement all surrounding a major support level that was broken on move down. If bull can reclaim that and turn it back into support, AGLO can continue much higher to complete the EW 5 wave sequence
Long
by CryptoHolix
AlgoUsdt is bullish and prices are looking to go upwardsHI everyone, The old coins are finally shifting trends. Algorand is one of them The charts are looking positive Inverse head and shoulders formation underway 12/26 Ema are bullish and pointing upwards Price crossed 100 ema and will act as support I am expecting .65 Cents to .70 cents target On rsi indicator, the rsi line successfully retested previous trend line as support and momentum will take rsi to overbought level if momentum keep coming Please like and subscribe as more charts are coming and more opportunities are presenting itself
Long
by Yazirazlamtrader