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Algorand / TetherUS

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ALGOUSDT trade ideas

ALGOUSDT is testing the PennantALGOUSDT is currently testing the dynamic support level within a pennant pattern. A pennant is a technical analysis pattern that forms when there is a period of consolidation following a sharp move up or down in price. It is characterized by two converging trendlines that form a triangular shape, with decreasing volume during the consolidation phase. The pattern indicates a period of uncertainty in the market, and traders will typically look for a breakout above or below the pennant to indicate the direction of the next major price move. In this case, ALGOUSDT has bounced exactly on the daily supply zone at the 0.185$ area, indicating strong support at this level. However, there is a possibility that the market may create a new bearish impulse, potentially leading to a downward trend that could bring the price down to the 0.1650$ level. If the price of ALGOUSDT breaks out above the 0.19$ area, according to Plancton's rules, it may be advisable to take a short position. ––––– 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
10
ALGO/USDT possible ways to moveHey, traders ✌️ Getting slowly back for upcoming week so, let's start with ALGO coin here. Currently forming a nice triangle formation here we see a great possibility for this coin to show some major movement soon, where price will try to move outside that formation. Watching closely this one! If you like ideas provided by our team you can show us your support by liking and commenting. Yours Sincerely, Swallow Team 🔱 Disclamer: We are not financial advisors. The content that we share on this website are for educational purposes and are our own personal opinions.
by SwallowPremium
2
ALGO is in a downtrend and oversoldALGO's current price is 0.2070, below the 0.2938 Fibonacci retracement level, indicating that the asset is a downtrend. Additionally, the RSI is at 30.95, below the 50 level, meaning that the asset is oversold. The upper Bollinger band on the daily timeframe is currently at 0.2950, while the lower Bollinger band is at 0.2063, indicating a wide range for potential price movements. The middle Bollinger band, at 0.2506, represents the 20-day moving average and is currently acting as a resistance level for the asset's price. The volume oscillator is at -6.30%, which indicates a decrease in trading volume. The MACD is currently at -0.0104, below the signal line, showing bearish momentum. The stochastic oscillator, at 2.41, is below the oversold level of 20, indicating that the asset is oversold. It's worth noting that the Algorand Foundation has recently issued an action statement on a security exploit, which could impact the asset's price in the short term. Traders and investors should monitor the situation closely to determine if further action is necessary. Overall, ALGO is in a downtrend and oversold, with a wide range of potential price movements. Traders and investors should exercise caution and closely monitor the situation to determine if further action is necessary.
by MonoCoinSignal
3
ALGO LONGHI traders, I hope that you are all killing the markets and I reassure you that you can absolutely under no circumstances follow my ideas and consider that to be sound financial advice, I am a novice and aggressive trader and I like to have all of my capital at work at any one time, as such the ideal position for me to be in is for my small account to be 100% committed to limit orders at any one time, this morning I closed a position for a close to 2:1 profit at 30x (+ 6% on my account in less than a week). so now since I've took profit I need to reinvest the capital immediately to continue with my aggressive strategy. I'm going in on ALGO Long just before it gets to the phycological number 2. I'm going in aggressive with 3.5% value of my account at 30x, so I can be 3% wrong and get liquidated or 3% right and add a small but significant % to the value of my account. I like to take profits manually when I see an acceptable profit. I want to be in and out of this trade by the end of the week. Let me know what you think Cheers Shaun
Long
by Shaun_Parker
3
$algo - dino coin yet?Sl .2243 if you fancy, longing this bubba has reclaimed the yellow line in confluence with the pink line reclaim which is a short term trend indicator for me i thought this would continue to .34 at the least this run so assuming we reverse from here that would be my next target just stating that so you can calculate your risk reward even if we go to the yellow line above risk is teeny so going to give it a go .. ps: all these prices will be a dream in the near future hopefully not a nightmare:)
Long
by CompoundingGain
ALGO/USDT Double Bottom spottedHey, guys ✌️ Let's take a peek at ALGO coin here. This one formed a nice double bottom formation where we see a good chance for a breakout of that neckline zone. Breaking neckline zone (which is also near 100EMA) we will most likely go towards $0.248 zone with some possibilities of light pullbacks If you like ideas provided by our team you can show us your support by liking and commenting. Yours Sincerely, Swallow Team 🔱 Disclamer: We are not financial advisors. The content that we share on this website are for educational purposes and are our own personal opinions.
Long
by SwallowPremium