ALGUSD trade ideas
ALGO - Wait For The Trigger!Hello everyone, if you like the idea, do not forget to support with a like and follow.
As per my last video analysis, we were waiting for the bulls to take over from a medium-term perspective by breaking above the inverse head and shoulders neckline.
ALGO broke above the neckline and traded higher. Now for the bulls to take over from a long-term perspective, we need a daily candle close above the last high in gray and above 1.0 round number.
Meanwhile, until the bulls take over from Daily, the bears can still kick in to form another low.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
algo to $1I think Algo will go to one dollar because of fundamentals and it broke out of a down trend and the market conditions are good thanks
Don't forget about Algorand! 🪐🪐Greetings,
Today we're looking at ALGO/USD - Algorand is a decentralized blockchain-based network that supports a wide range of applications. Algorand purpose is to speed up transactions and improve efficiency, in response to the slow transaction times of Bitcoin and other blocks. It's design focus is lower transaction fees, as well as no mining (like Bitcoin's energy-intensive process), as it is based on a permissionless pure proof-of-stake (PoS) blockchain protocol.
If you have a look at the chart, our Long Term Bottom line is drawn in (orange) around 70c region. If we look at this price on the daily or weekly time frame we can see that 70c was once resistance, which has now become support. I look at this price as being a value buy, for Algo to fall below 70c again there would have to be a large crash across the market, which is always possible!
Current Price:
$0.84
Buy Zone:
#1 - $0.70 - $0.76
#2 - $0.76 - $0.84
Targets:
#1 - $1.38
#2 - $1.61
#3 - $1.82
#4 - $2.1
#5 - $2.53
On the smaller time frames 1-2 Hrs - we may also have an inverse head and shoulders playing out, which is a bullish pattern!
As you can see i've set targets quite high on this one - We won't be trading Algo with any leverage as the market can be volatile in both directions. Cryptocurrency market can be extremely violent, so keep in mind that we're always using our tools and indicators to decide the structure of the market to try and predict the future.
Remember, nothing is guaranteed, control the controllables.
Mogues
$ALGO Confirmed Long Term SupportTechnicals look healthy
- long term support at $0.67 has been confirmed
- RSI crossover followed by 7 week EMA turning up will confirm resumption of long-term uptrend
Fundamentals are far stronger since the start of the correction
- Algorand Governance TVL to be unlocked by AlgoFi and AlgoGard for DeFi
- Flurry of DeFi projects launching launching
- Algorand liquidity incentive reward programs
- AVM-EVM compatibility initiative spear headed by Staci Warden
- bridges coming online to connect to liquidity on other chains - AlgoMint, GlitterFinance, C3Protocol, Applied Blockchain's London Bridge with Ethereum
- Staci Warden as new Algorand Foundation CEO brings her expertise and network with new focus on Algorand branding
- hiring one of the world's leading PR firms to market Algorand
- Algorand Ledger issues are being resolved
- AVM upgrades throughout the year - state proofs, cross contract calls, TPS boosts
- ... and much more, but too much to list all here ... but you get the idea
inverse head and shoulder in this crypto like algonow we watching this coin broke the neckline of that inverse head and shoulder
ALGO, being pump I will look to hold some at 0.79ALGO, being pump I will look to hold some at 0.79
This is not a financial advise or recommendation.
ALGO/USDT - Potential 123% SetupHello Traders!
After finishing the downward movement, the price of ALGO returned to the zone of interest of buyers $0.695 - $0.890.
It is possible to consider medium-term purchases in the range of $0.695 - $0.800. Price movement under $0.58 will be a trigger for closing the position.
For a short-term trade it is better to wait for a breakdown of the downtrend, the price exit beyond the price level of $1.07 and MA100 on a daily timeframe.
Targets will be price levels of $1.46 and $1.79
Good luck and watch out for the market
P.S. This is an educational analysis that shall not be considered financial advice
ALGOalways loved this one ever since i heard the feds were in on it, hughly bullish, government wants controle theyre going to get it, govt blockchains to the moon!
ALGO - Video Top-Down Analysis!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
Here is a detailed update top-down analysis for ALGO.
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!
All Strategies Are Good; If Managed Properly!
~Rich
Algo bouncing on a critical support $0.67Algorand bouncing on a critical support and respecting the .786 fib (from all-time bottom to all time high).
Hopefully algo will decouple from bitcoin trend and go for the shooting start.
algo/usdTesting/tracking elliot wave theory. Please do not trade off idea without S/L. Not financial advice.
The bottom is pretty much in. We have the first wave (1) completed and wave (2) is just about done. We should be working on wave (3). If you compare this chart to the previous, the price targets are relatively the same. I've added a new wave (5) target to make this chart more accurate.
Wave (1) - 2.5: done
Wave (2) - 0.60 : done or one more leg down 0.25 is lowest.
Wave (3) - 6.3-6.9
We are living in crazy times at the moment. We have a lot of crazy things going on such as pandemic and war etc so anything goes really. Your best bet is to dollar cost average down and stake. This is not financial advice.
Link to previous chart:
Expanding Diagonal for ALGOUSDLeading Expanding Diagonal (3-3-3-3-3)
Rules:
Wave 1 shorter than Wave 3
Wave 3 shorter than Wave 5 (sets 7$+ target for Wave 5)
Wave 4 must overlap into Wave 1 territory
Can overshoot or undershoot the top trendline
Additional comments:
Local bottoms seem to be equally spaced according to time cycles;
Stochastic RSI is deeply oversold on all major timeframes (Daily, 3D, Weekly and Monthly)
It might go lower than current price but a major move to the upside should be starting soon
There's also a lot of fundamental bullish news for Algorand in 2022
This chart is for educational purposes only, it's not financial advice
Bullish $ALGO Technicals Supported by Super Bullish Fundamentals$ALGO is in a clear long-term uptrend.
It is now retesting the bottom of the rising channel.
MACD has bullish divergence. MACD is starting to reverse while price continued to slide down on lower volume.
Stochastic in extreme oversold territory.
Algorand's super bullish fundamentals will propel $ALGO to all new time highs.
Once escape velocity is achieved to all new time highs, $ALGO will then enter price discovery mode and break out of the rising channel for a parabolic move.
Major fundamental catalysts to provide the rocket fuel are:
1. Multitude of DeFi projects launching in coming months with no end in sight - amplified by incentive reward programs to bootstrap the DeFi ecosystem - TVL boom
2. Staci Warden as new Algorand Foundation CEO with aggressive marketing and PR strategy
3. Algorand protocol upgrades and TPS boost
4. Multi-chain bridges - Glitter, Applied Blockchain Ethereum London Bridge, C3 Protocol
5. Institutional and enterprise implementations - SkyBridge, NAX, UNLOX, real estate (Vesta Equity, Homium, Lofty AI, QuantmRE, etc)
6. Government national initiatives
ALGOUSD CLOSE TO BREAKOUTALGOUSD is finishing bullish wedge pattern, we already bounced two times and closing in on breaking it upwards. We should look for a retracement back to 50% fib.
Aroon: On a daily timeframe it is already giving us an entry for a bullish trade.
Macd: is showing bullish momentum gain but we need to wait for a signal line to cross.
Bollinger band: We already bounced off of a bottom of a Bollinger band which indicates we should go long.
Entry: 0.77
Invalidation: 0.600
Target: 1.66
Ratio: 1:5
Falling WedgeALGO building a falling wedge right on big support w/ slight bullish RSI divergence. ALGO held up better yesterday than most, which is a change in character. May be time for a relief rally towards $1 barring any crazy headlines
1 Hour Bullish Shark Entry on ALGOWe have some Bullish Divergence on the RSI and will likely Develop some on the MACD i already entered at lower prices from the bigger more MACRO setup i posted for ALGO but this looks to be a good secondary entry that could perhaps even take us above the hourly targets and into the weekly targets.
ALGO Retracement from 2/28 on the Daily 15 min After Pump 88+I am publishing this chart with the current idea that I may wait for a buy in until this retraces back into the .84 range.
My overall consensus is Bullish with a healthy pullback before the next target, .92+
ALGOThinking ALGO ran The Fib extension gambit here all the way to $3 back in Aug 2021. (luckily some of our members took part in this move as I alerted the buy around $1 I think back in July 1 month prior) since then Algo stays inside 1 brutal correction and I'D say .53c gets tested B4 we can resume the run. But the wick to .67c bottom channel TL does show massive support.
So kinda hard to call here, but if my BTC analysis is correct in projecting BTC double bottom after we finish this B wave then ALGO will likely hit my lower bearish targets. If my BTC analysis is incorrect then likely ALGO has bottomed. Let's keep an eye on this.
4 hr. also Weekly Close ALGOUncertain here, the Weekly is coming to a close, green Doji however in light of certain events in our geo political environment, I am going to wait for this next candle and take another peak assessing volume as well.
