Get started

Algorand / TetherUS

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Seasonals Markets

ALGOUSDT trade ideas

Support Breakdown and Potential ReboundOver the past few weeks, ALGO has experienced a notable decline, with its value falling below the crucial support level of $0.10. This downward movement can be attributed to a combination of substantial selling pressure and a noticeable absence of strong demand. Even the previously established floor for this cryptocurrency, which was situated at the $0.090 price point, was breached during this period. Consequently, we find ourselves in a situation where there is a scarcity of historical price data at this particular level, and a new All-Time Low (ATL) has been formed. Given this circumstance, it is prudent to exercise caution and adopt a wait-and-see approach until clear indications of a potential trend reversal emerge. Looking ahead, the next support level for ALGO is estimated to be around $0.0750. This level holds the potential to elicit a positive market response, potentially sparking a rebound in the currency's value. Nevertheless, it remains advisable to exercise patience and monitor the market closely for any discernible signs of a forthcoming change in the prevailing trend. This cautious approach will allow investors to make more informed decisions in this uncertain market environment.
by MonoCoinSignal
4
ALGOUSDT capitulationDownside is continuing. I have not seen any strength or signs of bullishness in ALGOUSDT as of yet, and have not been trading at all. I am expecting more down side as the recent trading ranges have collected all liquidity and there is now a lack of liquidity to move price higher. Capitulating to the downside will allow new buyers to enter the market and allow those who have taken profit to re-buy into the market. Many retail traders are trying to get in at the "bottom" of the market, but it is still too soon.
Short
by lukeyhwh
2
ALGOUSDT wants the breakout?ALGOUSDT is currently exhibiting a falling wedge pattern. This pattern is characterized by converging trendlines that slope downward. In this context, the falling wedge suggests a period of consolidation and uncertainty in the market. According to Plancton's trading rules, which are followed by many traders in the cryptocurrency market, a potential long trade could be considered if the following conditions are met: Breakout from Weekly Resistance: The first condition is a breakout from the weekly resistance level. A breakout above this level would indicate a significant upward movement in the price and could be interpreted as a bullish signal. Retest as New Support: Following the breakout, it's important to see a retest of the previously strong resistance level, which should now act as new support. This retest helps confirm that the breakout is legitimate and not a false signal. In this scenario, if the price of ALGOUSDT manages to break out convincingly above the weekly resistance level and subsequently retests it as new support, it aligns with the principles outlined by Plancton. Traders who follow this strategy would consider opening a new long position, anticipating that the price may continue to rise. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <= 1h structure. Follow the Shrimp 🦐
by InkyGrip
18
Algo Possible Playout ChartThe Algorand movement is predicted to undergo a weakening of its price, from a technical perspective. Algo has indeed confirmed a flawless breakdown from its bearish flag pattern. The breakdown has been accompanied by a significant surge in trading volume, indicating an impending decline in Algo's value. This scenario suggests that Algo might experience a downturn in the near future. Algorand is a blockchain project that aims to provide a scalable and secure platform for decentralized applications and smart contracts. It employs a consensus mechanism called Pure Proof of Stake (PPoS) to enhance security and efficiency in transaction processing and validation.
by Cozybanana78
ALGO /USDT bullish scenario? 👀 🚀 Algo today analysisParadisers! Buckle up for an exciting opportunity with ALGOUSDT. Currently, it's in a demand zone and looks set to make a bullish move👀 💎Right now, ALGO holding a crucial support level and moving within a specific range. It has faced some resistance from a bearish order block within this range. 💎 Momentum is picking up, and it's likely that the price Algorand of will break through the order block and aim for higher levels. However, if selling pressure kicks in and the price breaks below the support level, it could be a prime shorting opportunity. 💎In the dynamic world of crypto, staying informed and adaptable is key. Stay tuned for more updates and enjoy your trading journey.
Long
by MyCryptoParadise_Simon
ALGOusdtALGO buy set up. Disclaimer: The trading signals provided are for informational purposes only and should not be considered as financial advice. Trading in financial markets involves substantial risk and is not suitable for all investors. Past performance is not indicative of future results. The sender of these signals is not responsible for any losses incurred due to trading decisions based on the provided signals. Traders are advised to conduct their own research and seek advice from qualified financial professionals before making any trading decisions.
Long
by Kentaruchan
My Algorand Bull ThesisBullish RSI Divergence: since June 23rd, about 70 days the RSI has been gaining strength since a mayor sell off, while the price continues to decline. Divergence also showing up on 4hr, 1hr. In my humble analysis I would argue Algorand is severely oversold at this point. New All Time Low: Price is currently 0.0971 Major Falling Wedge! Down about -45% in last 100 days. Down roughly -96% since start of bear market 200-Day Moving Average 0.17 Before The bear market started Algo was trading around 2 dollars, respectively. If crypto currency markets reach previous all time highs which is likely to happen one day, that's about 2,200% gain.
by FantomHoldings