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ALGUST trade ideas

ALGO BULLS REINSTATES PRESSUREHello Traders, I think Algorand overall Movement is to the 0.220 region. we should watch this bullish movement closely as this is going yo take a while to fulfil. This is the full analysis for this pair, let me know in the comment section below if you have any questions and suggestions. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. Please adhere to good risk management. Also like, follow and cheer, thank you....
Long
by TheLastLuftwaffe
ALGORAND is About to Explode!🚀 ALGO/USDT Potential Breakout Signal: After a careful analysis of ALGO/USDT price action, it appears that a significant move is on the horizon. ALGO has recently broken out of a Falling Wedge pattern, and all signs point to an imminent bullish surge. The key price levels to watch closely are 0.102 and 0.108. 🎯 Mid-term Price Targets: Target 1: 0.116 Target 2: 0.137 Target 3: 0.159 Target 4: 0.181 🛡️ Risk Management: Consider initiating small spot buys as the price action develops. If the price experiences a temporary drop, consider Dollar-Cost Averaging (DCA) to achieve an average buying level. It's advisable to set a stop-loss just below 0.090 to manage risk and protect against potential pullbacks from this support level. Stay tuned for updates as this promising move unfolds! 📈
Long
by ArShevelev
3
ALGO: Approaching ResistanceTrade setup : After getting rejected at $0.15 resistance a few times in November, price has finally broken above it to signal continuation of uptrend with upside potential to $0.24. However, price is now overbought (RSI > 70), hence, near-term, we’re likely to see it pause here on some profit taking. Pullbacks to $0.18 area could be swing trade entry opportunities. Previously, price broke above above 200-day moving average, which confirmed a bullish trend reversal to an Uptrend. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish but inflecting. MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening. Support and Resistance : Nearest Support Zone is $0.18 (previous resistance), then $0.15. The nearest Resistance Zone is $0.20, then $0.24.
Long
by altFINS
ALGO's Parabolic Growth: Cup and Handle Masterpiece! 🚀Algorand (ALGO) emerges as a distinguished performer, crafting a masterpiece in the form of a Cup and Handle pattern. With a breakthrough of a crucial trendline, ALGO is now shaping the handle of this pattern, signaling potential for a resolute continuation of its upward journey. Chart Analysis: Crafting the Cup and Handle Symphony Cup and Handle Formation: ALGO intricately weaves the narrative of a Cup and Handle pattern, a bullish continuation formation. The cup, formed by a gradual rounding bottom, transitions into the handle—a consolidation before the potential surge. Trendline Breakthrough: ALGO marks a significant breakthrough, piercing through a vital trendline. This breakout serves as a precursor to the formation of the handle, setting the stage for a potential strong upward movement. Anticipated Scenarios: A Harmonious Surge Crafting the Handle: ALGO is currently in the process of forming the handle, a consolidation phase within the Cup and Handle pattern. This consolidation is essential for gathering momentum before the next phase of the bullish journey. Bullish Continuation: The completion of the handle sets the scene for a potential bullish continuation. Traders and investors eagerly anticipate the symphony of growth, expecting ALGO to resume its ascent. Strategic Approaches: Navigating ALGO's Crescendo Strategic Entry Points: Traders may strategically position themselves during the handle formation, ensuring entry at optimal points within the consolidation. Timing is crucial, and vigilant entry strategies could enhance the potential for capitalizing on the anticipated surge. Monitoring the Handle Dynamics: Continuous monitoring of ALGO's price action within the handle is imperative. Breakout confirmation from the handle would be a key signal for traders to act on the anticipated bullish continuation. Conclusion: ALGO's Symphony Continues to Unfold As Algorand weaves the harmonious notes of its Cup and Handle symphony, traders and enthusiasts alike await the completion of the handle—a prelude to a potential surge in price. The stage is set for ALGO to continue its journey, composing a resounding melody of growth in the crypto realm. 🚀 Crafting the Cup and Handle Symphony | 🎻 The Crucial Trendline Breakthrough | 🌌 Navigating ALGO's Crescendo ❗See related ideas below❗ Share your insights on ALGO's chart dynamics and join the conversation about the potential breakout and its implications. 💚🚀💚
Long
by Yaroslav_Krasko
ALGO/USDT - Contrarian Signals Suggest Caution AheadIn the intricate dance of market analysis, this ALGO/USDT chart offers a blend of technical indicators and bespoke forecasting methods on the Binance exchange. Each element of the chart tells a part of the story, providing insights into potential future movements. The daily chart showcases a multitude of technical aspects: Linear Regression Channel: Central to the chart is a beautifully constructed linear regression channel, defining the upper and lower bounds of price movement. The precision of this channel reveals the natural ebb and flow of ALGO's price action, offering a clear visual of potential resistance and support zones. MSS (Market Structure Support) Lines: These lines are cleverly plotted to mark historical points of price reversals and consolidation. Their role is crucial in identifying future areas where price may react, giving traders key levels to watch for potential trade entries or exits. SR (Support/Resistance) Lines: These horizontal lines are drawn at significant high and low points, indicating where the price has previously found resistance or support. The levels serve as markers for breakout or breakdown points that may suggest a change in market sentiment. Price Mirroring Technique: This technique paints a contrarian picture. Although the market may appear bullish, the price mirroring anticipates a possible downturn. This method, which flips past price action to project future movements, suggests that the current bullish momentum could be deceptive and might precede a significant price correction. OxEngine RSI Indicator: Far from a simple momentum tracker, this specialized RSI indicator is designed to offer predictive insights into market trends. At present, the indicator hints at a substantial downturn in the near term, followed by a recovery. Investors should heed this warning of volatility, with a predicted 'big dump' potentially clearing the way for subsequent 'pump.' Local Support and Resistance: Short-term traders would find the annotations of local support and resistance particularly valuable, indicating areas of immediate interest for day-to-day trading. Local Resistance with Bullish Label: Despite the aforementioned bearish signals, the local resistance is marked with a bullish label, indicating a potential upward trajectory following the anticipated dump. This suggests that after the predicted decline, there's an expectation of recovery and a push towards higher price levels. Conclusion: This analysis presents a complex, layered interpretation of ALGO's price movements. The immediate forecast is bearish, as suggested by the Price Mirroring Technique and the OxEngine RSI, signaling a potential upcoming sell-off. However, the bullish label at local resistance provides a glimmer of optimism for a future rebound. Traders should approach this market with caution. The chart offers a valuable reminder that in trading, as in geometry, there are multiple angles to consider. Watching closely for a break of local support could be prudent, as it might confirm the bearish forecast and offer strategic entry points for those looking to capitalize on the anticipated volatility. Disclaimer: The content herein is for informational purposes and does not constitute investment advice. Trading involves risk, and it is advised to conduct your own research or consult with a financial advisor before making any investment decisions.
by cdw1p
ALGOUSDT upward momentum? 👀 🚀 ALGO Today analysis💎 Paradisers, prepare for a promising opportunity with ALGOUSDT as it showcases an impressive trend, currently positioned in a demand zone, hinting at a heightened likelihood of a bullish trajectory. 💎 In recent developments, we've observed a shift where supply zones have transformed into demand zones. Currently, ALGOUSDT is nestled within such a demand zone, and the prospects of it breaching the .1382 supply zone are quite favorable. 💎 Should this supply zone be successfully surpassed, we could see a move towards challenging higher supply levels, with the increased volume lending credence to a bullish outlook. 💎 On the flip side, should ALGOUSDT falter in its ascent, we might anticipate a bullish resurgence from the .1057 demand level. A dip below this could potentially lead to a notable bearish slide.
Long
by MyCryptoParadise
ALGOUSDT RETRACEAlgo will likely retrace lower, if we close below the previous large bullish candle. Looking at the weekly RSI, we see Algo had pulled back at the same level on the first wave of its last bull cycle a few years ago. We have also not closed any significant bullish candles on the lower time frames as of yet, to reclaim the recent large sell off candle. Despite aggressive buying at the Fibonacci levels, we could see bullish momentum ease off for a short time. If price action is maintained in the current range, I'd consider looking at more bullish signals.
by lukeyhwh
ALGO: Overbought at ResistanceAlgorand (ALGO) technical analysis: Trade setup : After getting rejected at $0.15 resistance a few times in November, price has finally broken above it to signal continuation of uptrend with upside potential to $0.24. However, price is now very overbought (RSI ~ 80!), hence, near-term, we’re likely to see it pause here on some profit taking. Pullbacks to $0.18 area could be swing trade entry opportunities. Previously, price broke above above 200-day moving average, which confirmed a bullish trend reversal to an Uptrend. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish but extremely overbought. (MACD Line is above MACD Signal Line). RSI is bullish (> 55) but extremely overbought (> 80) which could imply that price could briefly pause or pull back if it reaches Resistance. Support and Resistance : Nearest Support Zone is $0.15 (previous resistance), then $0.11. The nearest Resistance Zone is $0.18, which it broke, then $0.24.
Long
by altFINS
ALGO/USDT Break the key supply area. Bullish Momentum for ALGO ?💎 ALGO has been a standout in the market, recently achieving a notable breakthrough in a key supply area. It's now undergoing a retesting phase in the Lower Time Frame (LTF), setting the stage for potential upward movement. If successful post-retest, ALGO probability may move towards our targeted strong resistance area. 💎 However, if ALGO returns to the demand area, which previously acted as a supply zone, it will be crucial for it to demonstrate a strong bounce. This is necessary to mitigate the risk of a false breakout. 💎Failure to rebound and closure below the demand level could signal a false breakout, potentially reversing ALGO's trajectory. In such a scenario, ALGO might shift towards a downward trend, moving towards the next lower target, the support area.
by MyCryptoParadise
ALGO Are You Ready for Expansion? Get past .14c it GAME ON!!Not financial advice. Please also view my attached chart I posted before where I called the crash and said how important it was to hold .14c or we would likely try to come back to .06c That came to pass didn't get to .06c but Uber close now time for reversal. 1st off I'd like to add that we need to get over .14c and create support there before thinking about the .162 level. But we have 3 areas of TP depending on overall market conditions. Long term you can see the line I drew on the STOCH RSI that shows bearish divergence and I highlighted the top of that channel and where we can expect resistance/rejection. Again .14c is key. Stop loss is noted in chart along with Take profit ranges. Remember to always practice patience. #PIK Patience Is Key #TLAW Think Like A Whale
Long
by ThinkLikeaWhaleTLAW
2