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ALGUST trade ideas

ALGO/USDT looking for a breakdown! Hey traders 👋 Let's start this day with ALGO coin with a nice potential for some bearish movement here! Wit h multiple rejections near crossover of EMA we see that price has been weakening ever since but at the same time small bullish trend line has been respected as well! We are looking for bearish movement here where BB indicator is ready for a turnover here and EMAs are holding strong. Currently we want to see that breakdown of trend which will give us another confirmation of short-term bearish movement! P.S Remember that weekends are not the best times for trading so do keep your risk management in order! 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.
Short
by SwallowPremium
ALGOUSDT breakout soon?ALGOUSDT is currently in the process of testing the $0.11 area, and it is contained within a Falling Wedge pattern. The Falling Wedge is a bullish chart pattern that often suggests a potential trend reversal from a downtrend to an uptrend. It is formed by connecting lower highs and lower lows with two converging trendlines, creating a wedge-like shape. Additionally, the price has recently retested the weekly support level at the $0.1 area. A retest of support occurs when the price briefly moves back to a previous support level after a breakdown, and this level is once again tested to check if it now acts as resistance. According to Plancton's rules, traders will closely monitor the price action around the $0.11 area and the Falling Wedge pattern. A decisive breakout above the upper trendline of the Falling Wedge, accompanied by significant trading volume, would be considered a breakout signal. If the price successfully breaks out above $0.11, Plancton's rules would suggest a "new long" trade. This means that traders would consider opening a long position on ALGOUSDT, expecting the price to continue its upward movement. Regarding profit targets, traders can use various technical analysis tools to identify potential upside price targets. Fibonacci extensions, previous resistance levels, or the height of the Falling Wedge pattern itself can be utilized to estimate possible price objectives. ––––– 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
22
ALGOUSDT FRACTAL WARNING!In this idea, I have spotted a fractal occuring that is identical to the ADAUSDT daily chart. This fractal indicates we have a large incoming crash in the short term for ALGOUSDT. I will not be entering any trade until after the incoming crash. The markets are weak at the moment and with many retail traders thinking the market has turned bullish, many buyers will be getting wrecked as they are sold into. We are seeing many cryptos being artificially pumped by market makers to bring in and sell to new buyers. This should be no surprise as the market dumps heavily as soon as the early money starts flooding in. Patience pays off.
Short
by lukeyhwh
1
Range Trend, Twin Bottom Pattern, and Resistance LevelsThe ALGO cryptocurrency has followed an expected range trend by consistently finding support at the $0.10 level. This trend is likely to continue for some time. Additionally, a twin bottom pattern has formed on this support. If the pattern's neck line is broken, we anticipate that the price will increase further, reaching the resistance range between $0.185 and $0.19. There is a minor resistance at around $0.122, and the price has shown multiple reactions at this level in the past. If buyers have enough strength to break through this resistance, the next target would be the resistance range at the top of the descending channel, specifically around $0.141. However, in a bearish scenario where there is a negative reaction to this resistance, the support range at $0.092 is significant. We can expect a positive reaction from the price in this range.
by MonoCoinSignal
4
ALGOUSDT → Bottom retest. False breakdown before the impulse BINANCE:ALGOUSDT is testing the bottom at 0.0958 in a false breakout format, which could trigger a rather strong rebound as it took more than 3 years for the second retest. Such long retests form a voluminous pool of liquidity that can hold the onslaught. Price is forming a bearish wedge within the downtrend and after a bottom false breakout , price recovers and breaks resistance. The key support level at the moment is 0.1070. Consolidation above the level is forming, forming an entry point. On the background of altcoin market revival, our coin may show good potential in the near and medium term. Support levels: 0.1070, 0.0958 Resistance levels: 0.1225, 0.139 I expect consolidation above the above support with further upward impulse. medium-term target is 0.1607 and 0.2376. Regards R. Linda!
Long
by RLinda
14
Algorand ALGO price is far behind the cryptomarket. When growth?We are often asked to publish an idea for ALGOUSDT, you asked - we did. We look at the chart and see that the ALGO price is still in a downward trend. The only good news is that as of right now, ALGOUSD hasn't updated its lows in a month. Now the ALGOUSDT price has moved into consolidation, so we can hope that the stage of accumulating long positions has begun, and this stage can last for many weeks. As of now, we would definitely not risk buying ALGO with our own funds, as we do not see the strength of buyers and the "desire" for prices to rise. The first ray of hope for ALGO holders may be a breakout of the trend line and a price fix above $0.15. In this case, there will be a chance for continued growth to $0.20 and $0.26 In the long term, we would like to see the ALGOUSDT price reach a strong mirror zone of $0.70-0.80, but we do not know when this will happen and what should provoke such a price increase. _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
21
ALGOUSDT is going to retest the Golden RatioALGOUSDT indicates an interesting development based on Plancton's Rules. After a breakout from a massive falling wedge pattern, ALGOUSDT has displayed a bullish move. The falling wedge pattern is characterized by converging trendlines with a downward slope, often indicating a period of consolidation and decreasing selling pressure. A breakout from this pattern suggests a potential shift in market sentiment towards a bullish bias. Based on Plancton's Rules, there is a possibility that the price may retest the 0.618 Fibonacci level to grab new liquidity. The 0.618 Fibonacci level is a significant level based on Fibonacci retracement, which traders often use as a potential retracement level during an upward move. This retracement can create an opportunity for new market participants to enter long positions and provide additional liquidity to the market. Traders following Plancton's Rules would be monitoring the price action around the 0.618 Fibonacci level and look for signs of a potential bounce or consolidation. This could serve as confirmation to initiate a new long position, anticipating a resumption of the bullish trend. ––––– 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
6
Algo Buy SetupHere Is My Study On Algo Welcome to my channel! Here you'll find daily technical analysis ofthe latest trends in the crypto market. From Bitcoin to altcoins, I'lIl be sharing my insights and predictions to help you make informed decisions about your investments. Follow me for the latest updates and join the conversation in the comments! Crypto technical analysis uses past price history to predict future price. It's not a guarantee and shouldn't be relied on solely for investment decisions. Consider other factors such as market trends, economic strength and information dissemination. Use with caution. This Is Not A Finacial Advise
Long
by MoonTradingForecast
ALGO: Navigating the Ups and Downs of the Algorand JourneyALGO (Algorand) is a blockchain platform that aims to provide a secure and scalable infrastructure for decentralized applications and financial systems. It utilizes a Proof-of-Stake consensus mechanism, ensuring fast transaction processing and high throughput. From a technical analysis perspective, ALGO has been in a solid downtrend since February 7, 2022. The price has encountered major resistance levels as the token continues to experience downward price pressure. Notably, the resistance at 29 cents marked the start of a significant sell-off, resulting in a 69% decrease over a span of 105 days. However, a strong support level has formed around 10.55 cents, and the next expected resistance is projected to be around 12.35 cents. If the resistance is broken and support is established, there is potential for a 10% rally towards 13.70 cents. Taking into account the ROBO advisor sentiment, the daily timeframe is currently bearish, indicating a prevailing downward price action. The sentiment on the 3-hour timeframe is unconfirmed and mixed, while the 45-minute timeframe suggests a bullish bias. Overall, the sentiment surrounding ALGO is currently mixed, with a slight inclination towards bearish price action. However, it is important to note that a potential reversal could be on the horizon, given the mixed signals and the possibility of breaking resistance levels. Please be aware that technical analysis provides insights based on historical price data and indicators, but it does not guarantee future price movements. It is important to conduct thorough research, consider fundamental factors, and employ proper risk management strategies before making any investment decisions. Disclaimer: Cryptocurrency investments carry inherent risks, and it is crucial to exercise caution, seek professional advice, and make informed decisions based on your risk tolerance and financial goals.
by AXiVenture