ALGUSD trade ideas
ALGO We are currently re-accumulating and holding the 61.8 of the previous swing high/low on the FIB retracement. I expect a 100% as first TP for this trade once ETH starts to slow down.
We must analyze and keep and eye on the higher lows printing. ON lower timeframes we are reaccumulating and are currently holding at the creek level. just showing many are holding their money which is a great sign. Algo announced new NFTs in their ecosystem 4 days ago. I expect this to be a huge move that can end at 10 dollars by the end of next year. Or, it can pull a Solana, lets see what the market blesses us with .
Any lower prices are meant to get bought up to accumulate coins before we get the money coming in from bigger buyers. Holding from 89 cents. 10 dollars TP will be the first sign of looking to start limiting.
I feel I am being generousAlgorands Flag right now.
This ecosystem is good but has a lack of developers right now.
More will be moving over soon and developing wallets. This is still in competition with other layer ones.
ALGO Coiled UpALGO coming to an end of this consolidation above the prior ATHs. Low and decreasing volume on this base signals selling pressure is coming down as sellers are being absorbed in the price range (blue line is 100 day average).
Looking for this to breakout next week.
ALGORAND against USD POS coinstaking, staking and staking!!
the creator
Silvio Micali is a professor of computer science at the Massachusetts Institute of Technology, and the founder of Algorand. He is a recipient of the Turing Award (in 2012) for his fundamental contributions to the theory and practice of secure two-party computation, electronic cash, cryptocurrencies and blockchain protocols. This makes him one of the foremost creators of crypto in the world.
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Algorand Price (ALGO)
$1.86
0.85%
0.00003044 BTC1.29%
0.0004137 ETH0.66%
$ALGO Symmetrical TriangleRSI is showing strength maintaining above the 46 level. The 50-day MA passed up through the 200-day MA signifying a Golden Cross.
MACD doesn't look the greatest but does appear to be moving in the right direction.
Scenario A: break-out of the triangle, zoom towards previous ATH, contend with it momentarily and then make new ATH
Scenario B: breakdown out of the triangle, fall towards 200-day MA or previous support.
Which scenario do you think is more likely?
Imagine when ALGO gets the market cap of ADA or SOL... Algorand would be at about $11 if that were the case based on current market caps at the time of this post.
Weekly Chart:
ALGO to remain in correction phase above $1.75The Algorand price analysis shows that the ALGO/USD is correcting today. A decrease in price has been observed as bears are ruling the charts today. ALGO remained bullish for the last four days, and the price uplifted during that time but to a limited extent. Overall, ALGO has been following a wave pattern for more than a month and has been unable to break above the $2.3 level. Only one high swing was observed during the past weeks when ALGO went as high as $2.05 on 25th October, followed by a reversal of the same even higher magnitude when ALGO stooped down to $1.79 on 27th October. Since then, the price oscillation has been small.
Targetting 3USD- consolidated for 1,5month
- slowly upward sloping price
- flipping 2USD zone as support will open the upward potential
- 1.236 extension of summer run-up
- btc pair rolls/rolled over
ALGO - Critical Times!Hello everyone, if you like the idea, do not forget to support with a like and follow.
After breaking the orange resistance, ALGO has been stuck inside a range in the shape of a symmetrical triangle highlighted in purple.
For the bulls to take over, we need to see a break above the upper bound 2.13 marked in blue.
In this case, a bullish trend continuation would be expected till 3.0
In parallel, for the bears to take over, we need a break below the lower bound 1.55 marked in red.
In this case, a bearish reversal would be expected till around 1.0 where we will be looking for buy setups.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
ALGO - potential double zigzagLikely we will get a complication of the corrective pattern. If price breaks lower it will target fe100 level for the wave Y of a wxy pattern.
That will be a perfect buy zone
ALGOUSDT - Another leg up coming.Algo since breaking above the corrective downtrend has been consolidating in the form of this bullish pennant, the range is tightening and coiling up for a breakout, we are waiting for a entry confirmation on the 4hr timeframe before we can position ourselves for this possible continuation move.
ALGO long$ALGO seems to have formed a nice ascending channel in the last month. Looks like a great buy with a nice 20% upside potential! Good luck :-)
Algorand to 3.5 before over 20! Cup and handle formation . technology is solid. Could see 3.5 and than 20 in months. Good luck!
ALGO SOOOON!Looking for a potential breakout trade here! Stop nestled around the 1.49 area. You don't want to set stop too high.. Nothing worse then getting stopped out
Algorand Cup & Handle (Monthly Chart)Check out the 5 Minute Chart for a more detailed view. But the Handle on the Monthly chart is looking extremely bullish overall which make this a good area to load up and scalp a profit on the anticipated breakout to the upside of the Handle. Question is will the ceiling become the floor or will it rally and then retrace the breakout level...?
Sharp RetestThe price spiked down to my previously drawn ascending triangle. Immediate bounce from the exact line. This means we are retesting previous resistance as significant support. I believe things get highly volatile (as they are now) before significant moves. Being that we are in a bull trend I am betting Algo is going much higher from these levels. A close of a 4 hr candle below this support will cause me to revisit my conviction.
10% decline looks imminent ..!It looks like the Crypto market has run out of steam and a Flash crash is about to happen..!
It is already 10% below the 2.743 Trillion, but another 10%-15% decline is closer than what you think!
Best,
Moshkelgosha
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ALGO fake breakoutALGO has given a fake break out signal over the last days, as stated in my previous idea this was a possibility, since markets never gives you what you want straight away.
Plan doesn't change, I'm adjusting the possible timeline for ALGO to remain in it's triangle while BTC will be consolidating.
I would see anything at or under 1.65$ to be a big buy opportunity going into the end of the year.
No panic, let the market do what he wants.
Algorand (ALGO) - October 27Hello?
Welcome, traders.
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Have a nice day.
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(ALGOUSD 1W Chart) - Mid-Long-Term Perspective
Above 0.76754798 point: uptrend expected to continue
(1D chart)
First resistance section: near point 2.30117362
Second resistance section: 2.84473154-3.02591751
Support section: 1.57642973-1.75761570
If the price holds above the 1.97455023 point, I would expect a move to break above the first resistance level.
If the price declines from the 1.65442767 point, it may touch the support zone, so trade cautiously.
A move from the support area could lead to a move near the 1.21405778 point, requiring a short-term Stop Loss.
However, if support is found near the 1.35658321 point, it is expected to rise to the support section, so countermeasures should be considered.
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(ALGOBTC 1W Chart) - Mid- to long-term perspective
6469 Satoshi point or higher: Expected to create a new wave.
(1D chart)
First resistance section: near the 4309 Satoshi point
Second resistance section: near the 6469 Satoshi point
Support section: 2452 Satoshi-2886 Satoshi section
We need to see if we can find support in the support zone and move up to the first resistance zone.
In the medium to long term and in the short term, the 2886 Satoshi point or higher is considered to be a jumping-off section for rising.
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We recommend that you trade with your average unit price.
This is because, if the price is below your average unit price, whether it is in an uptrend or in a downtrend, there is a high possibility that you will not be able to get a big profit due to the psychological burden.
The center of all trading starts with the average unit price at which you start trading.
If you ignore this, you may be trading in the wrong direction.
Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, ultimately allowing the funds corresponding to the profits to regenerate themselves.
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** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator moves accordingly as price and volume move.
However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator.
** The MRHAB-O and MRHAB-B indicators used in the chart are indicators of our channel that have not yet been released.
(Because it is not public, you can use this chart without any restrictions by sharing this chart and copying and pasting the indicators.)
** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator.
Therefore, the interpretation is the same as the traditional Stochastic RSI indicator. (K, D line -> R, S line)
** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)
** Support or resistance is based on the closing price of the 1D chart.
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry through split trading. It is a short-term investment perspective.)
