Possible Breakout upwardAlgo is very bullish now with possible breakout to $2.20. Algo is forming a huge rising wedge witch could take it to $2.80-$3.00
ALGUSD trade ideas
ALGOI have ALGO breaking up in a minor W5 as a sub wave of the Intermediate W3 heading towards $3.21. We just took a long leverage trade in my group. GL guys. Big Mike loves all of you.
ALGO/USD - maybe nice spot to buyHere is just my little observation considering ALGO.
The maint point, that this recent high volume has been confirmation of break phase of accumulation out.
If so, than I think history can repeat itself, and next target will be around 2.618.
For now I am looking closely, if price can hold 4-hour support :
ALGO has nice fundamental for a long bull-run. So it's worth looking at.
Algorand is going higher [Signal #1 in Defi Series]Algorand is a decentralized network built to solve the blockchain trilemma of achieving speed, security, and decentralization simultaneously. Launched in June 2019 by computer scientist and MIT professor Silvio Micali, Algorand is a permissionless and open-source blockchain network upon which anyone can build. Algorand is designed to be a payments-focused network with rapid transactions and a strong focus on achieving near-instant finality — that means processing over 1,000 transactions per second and achieving transaction finality in less than five seconds.
Algorand uses a Proof-of-Stake consensus mechanism and distributes validator rewards to all holders of its native ALGO cryptocurrency. Through strong throughput capacity and equitable community incentivization, Algorand is capable of managing the high-throughput requirements of widespread global usage and a variety of use cases.
As a public smart contract blockchain that relies on staking, Algorand is currently capable of hosting decentralized application (dApp) development and providing scalability. Rising gas fees on Ethereum have led many dApp developers and decentralized finance (DeFi) traders to look for alternative blockchain solutions, with some turning to Algorand as an Ethereum-alternative for dApp development and DeFi applications.
Algorand also allows developers to use the Algorand Standard Asset (ASA) protocol to create new tokens or to transfer existing tokens to the Algorand ecosystem. For example, stablecoins like USDT and USDC also exist as ASAs on the Algorand blockchain and enjoy much higher throughput and much lower transaction fees than what is typical on Ethereum. Further, as central banks continue to research networks to host their central bank digital currencies (CBDCs), Algorand has become a viable option and has been chosen to host the Marshall Islands CBDC. Learn more about it at www.algorand.com
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ALGO potentially can reach $8 - $12Maybe it can reach some where close to $4 then come down to low $2 and toward the end of the cycle it can reach somewhere between $8 to $12
BIG. MASSIVE. FLAGS...BIGLYDo I see a motherfudgin' bull flag???
Never take this as advice. I am a moron.
ALGO to new ATHBought ALGO at $2, this is now stop loss, losing this would see a dump. I've already taken profit 1 (and renamed the other 4 for the convenience of this chart) at the high but I'm trying to journal more on tradingview as I abandoned it a while ago and want to resurrect it a bit.
TP's are fib pulls. I think we'll probably stay above R2 on a pullback, unless bitcoin dumps. Either way stop loss will allow me a small profit on this trade.
20% targetEntered into another buy at this level with a target of the previous high and a stop below $2
Algo turning point8 percent pump from here is possibl e.. target 2.222usdt
it depends if it leaves a wick from here and turns green coming in 4 hour candle that only way of 5 minutes.
support at 1.95usdt
investment carreis high risk, play wisely.
thank you!
Been slowed down
Stop in action at the touch of 2.5580
Expecting a retracement to 1.6, and more testing of 2.5580 still.
Demand has been strong, so I do keep a buying bias on the long-term, but some reaccumulating could happen first to make a break 2.5588 Having it consolidate under between it and 1.60 needing to build a cause to keep unfolding.
Could also regain strength and only dance on the 1.92 area before going up again. But on the 4 hours as well the selling interest have been showing more it's nose in the last 8 hours
Move back down under 1.92 would give more confirmation retracing movement started happening.
Monthly
Weekly
Daily
Yesterday close ended on increasing maintained demand with a weak candle, which is signs of important selling interest at the resistance.
Bearish ABCD Pattern Is Nearing CompletionWe are Near a 1.618 Retrace which will be the PCZ of our ABCD Harmonic here and i'm actually not sure if it will be strong enough to actually hit it but if it does that will be a very nice place to catch the reversal.
ALGO/USD WYCKOFF REACCUMULATION!Hello my beautiful traders.
I think ALGO might be very close to exploding beyond its range.
I will take a long position once it has broken above the range evidenced in red and retested it. The desired area is the one in green.
If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair.
Consider supporting me on PayPal if you think I am providing you with value.
Peace.
Luca, TrickleDownFX
Algorand ($ALGO) FIBAlgorand ($ALGO) is one of the coins of the month. Incredible BULL action as they buy up yesterday's dip. Feeding fire with more fire🔥🔥🔥
Trading above $2.35 support
ALGO/USD short term Elliott Wave analysisALGO/USDT short term price action prediction. Next impulse wave could start around $1.80 mark. Planning to set my limit buy around $1.65-$1.80 for a nice swing trade. Comment below your thoughts.
Up we go possibly This is just my best guess. Looks like Alogrand will retest $2.50 - if it breaks resistance then we could see 3.46 a new ATH. If not, then a retracement back to $2.23 and will probably rally to ATH.
short term bearish a 2hr close below the super trend and a candle below the flag will indicate short term bearish trend. no volume is indicating a move to the down side as-well.
Can ALGO make a new high by October?RSI currently at 73.16, compared to feb 08 high of 87.17.
Support around .97
Resistance around 2.5
$Algo/USD Wave AnalysisThe biggest risk to this chart is labeling the leading diagonal as ABC of Wave of 1 instead of Wave 1. If the ABC is in fact Wave 1, then Wave 3 peaked at $1.50 and Wave 5 at $2.50 and the local top has been reached.
Not financial or trading advice. Let me know what you think.
ALGO - The Beast Is Awakened!Algorand, or what I called " the sleeping giant " is finally awakened.
As per my previous analysis (attached below), we have been waiting for a confirmation to buy ALGO around the support 0.700
ALGO activated the buy and traded higher aggressively . This movement reminded me of FTM and how its parabolic movement started.
NOW WHAT?
ALGO broke above the 1.8 - 2.0 resistance zone so it is now acting as support and we will be looking for buy setups on its retest.
Our next rejection / resistance area would be 2.8 - 3.0.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
ALGO USDT New HighsALGO made a new high even after a BTC sell off
Made a triple bottom as well
Showing great relative strength
Retest of previous highs can be a decent entry
ALGO enough It’s was game for Algo . I will be no surprise if we go down . Algo should definitely calm down .
JUST AN OBSERVATION Long term bullish.
2020 full fib extension was hit, set from earlier this year.
big retrace.
then a full fib extension (4.236) was hit today.
Big retrace, next?
Next price target is 5.8$ maybe in the next 4-8 months?
