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ALGUST trade ideas

Algo Bulls Need FuelLooking at Algorand/USDT 4H on Binance, it seems like there is a long road ahead for ALGO bulls. We see two recent rejects at the .5 FIB / $.24. The retracement found support on the 200MA but the subsequent bounce was unable to fully recapture the .382 FIB at $.225. I'd expect some chop between the 200MA & .382 then a drop down towards $.21. With the two rejections in place at $.24 and little volume supporting the 200MA bounce, I'm generally bearish in the short & long term on Algo. The volume spike that drove it from $.19 to $.24 seems anomalous and without any real momentum. Should bulls get the fuel they need from somewhere in the ecosystem, its a tough road towards the long time resistance at $.26 (white line). I'd expect multiple attempts & failures at recapturing that level, especially with the .618 so close to it. With so many other charts & cryptos showing bullish indicators, Algo is a tough technical sell in current form.
Short
by ChartswithChip
7
$ALGO - rise up .. long time no see my friend. algo bulls would be hoping the longer the accumalation the bigger the pump innit ?? anyways bid as close to blue line or .2050 and stop tad under it tbh looked at algo cause i figured the risk would be the least if you're an algo hodler id say try doing a 3x on your spot bags defo get more than staking it or hodling lets see how this goes not getting a bag just recon its time this started doing something ... wide stop .2016 or 8% from here tighter .2048 target blue line or 144% opening on this a separate account so either i get stopped or target hits ( patience needed )
Long
by CompoundingGain
ALGOUSDT needs to create a new breakout!BINANCE:ALGOUSDT is currently testing the weekly resistance level at the 0.23 USD area, which is an important level to watch as it has acted as resistance in the past. A breakout above this level could signal a bullish trend continuation, as it would indicate that buyers are willing to push the price higher despite the resistance. Traders may want to wait for a breakout above this level and a retest of this area as new support before considering a long position. According to Plancton's rules, if there is a breakout above the 0.23 USD area, it would suggest a new long position as it indicates a potential trend reversal to the upside. This rule suggests that traders may want to consider entering a long position in anticipation of a potential price increase. Overall, the market sentiment for ALGOUSDT appears to be bullish, with the potential for a breakout above the weekly resistance level at the 0.23 USD area. ––––– 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
14
ALGO plan for 2023✅Before we start to discuss, I would be glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it. Thank you. We don't need to draw a lot of lines on a charts. Here is weekly timeframe and everything what you should know about Algorand price action for 2023 Possible Targets and explanation idea ➡️Weekly chart. Based on Take profit indicator we traded long time period under fundamental price. ➡️Its a Fib trend extension not a retracement. By this fib from the top we came in exactly to 0.618 lvl ➡️First block its a Monthly gap. Second block its a weekly gap which we most likely come to trade ➡️Take profit line now at 1.13 and exit line over than 0 level 1.27 ➡️Most likely we can see at least move to 0.23 level by fib then retest buy line and take profit line before 2024/2025 bull run Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! ✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes. --- • Look at my ideas about interesting altcoins in the related section down below ↓ • For more ideas please hit "Like" and "Follow"!
Long
by Crypto4light
ALGO/USDT - Algorand: Resistance_Breakout_Confirmation◳◱ A Resistance Breakout and Confirmation has been detected on the SIX:ALGO / CRYPTOCAP:USDT chart. The price has broken above a key resistance level and has been confirmed by a strong candle, indicating a potential bullish trend. The next resistance key levels are located at 0.2247 | 0.2329 | 0.2501, and the major support zones can be found at 0.2075 | 0.1985 | 0.1813. Consider entering a trade at the current price zone of 0.2313 and targeting higher levels. ◰◲ General info : ▣ Name: Algorand ▣ Rank: 40 ▣ Exchanges: Binance, Kucoin, Bybit, Huobipro, Gateio, Mexc ▣ Category/Sector: Infrastructure - Smart Contract Platforms ▣ Overview: Algorand is a scalable, secure, and decentralized digital currency and smart contract platform. Its protocol uses a variation of Proof-of-Stake (PoS) called Pure PoS (PPoS) to secure the network and reach consensus on block production. Unlike other PoS models, PPoS does not reward, nor does it put validator or user funds at risk of being slashed (a loss of funds used to promote honest node and user behavior). Algorand intends to eventually leverage its PPoS design to form the foundation for an on-chain governance system. ◰◲ Technical Metrics : ▣ Mrkt Price: 0.2313 ₮ ▣ 24HVol: 12,134,262.215 ₮ ▣ 24H Chng: 5.858% ▣ 7-Days Chng: 4.60% ▣ 1-Month Chng: 11.99% ▣ 3-Months Chng: 0.01% ◲◰ Pivot Points - Levels : ◥ Resistance: 0.2247 | 0.2329 | 0.2501 ◢ Support: 0.2075 | 0.1985 | 0.1813 ◱◳ Indicators recommendation : ▣ Oscillators: BUY ▣ Moving Averages: STRONG_BUY ◰◲ Technical Indicators Summary : STRONG_BUY ◲◰ Sharpe Ratios : ▣ Last 30D: 0.76 ▣ Last 90D: 0.54 ▣ Last 1-Y: -0.78 ▣ Last 3-Y: 0.63 ◲◰ Volatility : ▣ Last 30D: 0.90 ▣ Last 90D: 0.86 ▣ Last 1-Y: 0.95 ▣ Last 3-Y: 1.20 ◳◰ Market Sentiment Index : ▣ News sentiment score is N/A ▣ Twitter sentiment score is 0.60 - Bullish ▣ Reddit sentiment score is 0.46 - Bearish ▣ In-depth ALGOUSDT technical analysis on Tradingview TA page ▣ What do you think of this analysis? Share your insights and let's discuss in the comments below. Your like, follow and support would be greatly appreciated! ◲ Disclaimer Please note that the information and publications provided are for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. We encourage you to conduct your own research and consult with a qualified professional before making any financial decisions. The use of the information provided is solely at your own risk. ▣ Welcome to the home of charting big: TradingView Benefit from a ton of financial analysis features, instruments and data. Have a look around, and if you do choose to go with an upgraded plan, you'll get up to $30. Discover it here - affiliate link -
by Crypto2AF