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Algorand / TetherUS

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ALGOUSDT trade ideas

ALGO: Resistance BreakoutTrade setup : Following a bullish breakout from a Falling Wedge pattern, price resumed its Uptrend. Now it broke above $0.25 to signal continuation of that uptrend, with +20% upside potential to $0.30 near-term and $0.35 mid-term. Stop Loss (SL) level at $0.225. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55). Support and Resistance : Nearest Support Zone is $0.20 (previous resistance), then $0.17. The nearest Resistance Zone is $0.25, which it broke, then $0.30.
Long
by altFINS
ALGOUSDT Elliott Waves AnalysisHello friends. Please support my work by clicking the LIKE button👍(If you liked). Also i will appreciate for ur activity. Thank you! Everything on the chart. Entry: Find your entry point yourself (im in pos from 0.184) Targets: 0.34 - 0.46 - ~0.7 after first target reached move ur stop to breakeven Stop: (depending of ur risk). ALWAYS follow ur RM . risk is justified Good luck everyone! Follow me on TRADINGView, if you don't want to miss my next analysis or signals. It's not financial advice. DYOR!
Long
by trytofeelpositive
3
ALGO/USDTALGO is currently holding a significant support level following a recent correction, showcasing potential for another upward move. Considering the favorable conditions, exploring a long position in this zone seems promising for a ride towards the next two red zone targets. As always, prioritize effective money management practices and incorporate a strategically placed stop loss. Identify your entry point thoughtfully and set a well-defined stop loss. Consider taking profits at the first target and, in the event of a strong closure above the initial target, reassess for a potential re-entry. Alternatively, adjusting your stop loss to safeguard your gains is a prudent strategy. Stay proactive and stay informed! #ALGO #TradingStrategies #Crypto
Long
by Seahawks_
A closer look at the potential of ALGO.People are jumping with joy today as FLARE has made a more than 300% in gains as of late, but when you see what ALGO is about to do, you won't give a second look at FLARE again. Not to put down FLR, I hold a bag myself, but only to use it as a comparison. Just taking a gander at this chart, even the most rudimentary of assessments come to realize really quickly that there is definitely potential here. Even if the cup & handle formation fails, the chart gives you some really great tips about exit and entry points on long, and short positions. Enjoy traders, and always use a stop.
Long
by MetaShackle
2
ALGO/USDT Downward for retesting phase. Keep on eye the demand!💎 ALGO has been drawing considerable attention in the market lately. Currently, ALGO is on a downward trajectory, heading towards the demand area at 0.1550 for a retesting phase. This move follows a significant breakout and subsequent rejection at the Bearish OB area. 💎 If the retest proves to be valid, ALGO needs to bounce back from this demand level to resume its upward movement, probability reattempting to break out of the Bearish OB area, which is the targeted goal. 💎 However, if ALGO fails to rebound during the retesting phase at the 0.1550 demand level, it could signal a negative trend. A failure to maintain this demand level might indicate a shift back to a bearish trend, with the next potential downward target being the support area. 💎 The support area becomes critical for ALGO's trajectory. A successful bounce and recovery above the 0.1550 demand level are necessary to avoid further declines. If ALGO fails to regain and hold above this level, it could lead to a continued downward movement, possibly reaching lower levels previously seen.
by MyCryptoParadise_Nathan
ALGO ready for breakouthi dear trader this price action for algo withb usdt pair algo ready for breakout downtrend channel there are entry and target and stop loss found in this chart What Is Algorand (ALGO)? Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are secure, scalable and efficient, all critical properties for effective applications in the real world. Algorand will support computations that require reliable performance guarantees to create new forms of trust. The Algorand mainnet became live in June 2019, and was able to handle almost 1 million transactions per day as of December 2020. Algorand transaction metrics can be viewed here. Algorand initial coin offering (ICO) was held in June 2019, with the Algorand price of $2.4 per token. goodluck
Long
by mehdi_kb
ALGO: Resistance BreakoutTrade setup : Price is in an Uptrend. Following a bullish breakout from a Channel Down pattern, price has also broken above $0.20 resistance to signal continuation of uptrend, with + 20% upside potential to $0.24. Stop Loss (SL) at $0.18, just below prior swing low. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55). Support and Resistance : Nearest Support Zone is $0.17 (previous resistance), then $0.15. The nearest Resistance Zone is $0.20, which it broke, then $0.24.
Long
by altFINS
1
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