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ALGUST trade ideas

ALGOUSDT - Bearish below 0.2025Here's a quick take on ALGOUSDT - Not a whole lot to discuss here other than ALGO has fallen below a major support level at 0.2025 which was established in late 2019 and early 2020 during the covid dump. A 5 wave structure can be seen on the way down with wave 4 retracing internally only roughly 23.6% of the way to another key level around 45 cents. I would expect a significant bottom to be found if it goes to 14 cents. Otherwise, if it can close a daily candle above 0.2025, then I belive it'll go to the next resistance level within a couple days.
by bitdoctor
ALGO/USDT waiting for breakdownHey colleagues Another one we are going to look at is ALGO token. We see a good possibility for this coin to go or lower levels once breaking the level of $0.188. Breaking that level will result the bearish movement towards lower levels. We also see that BB indicator path is getting tighter so some sort of movement should happen sooner or later. 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
10
ALGO / USDT technical analysis and price prediction (Binance)Hello,  Today I will take a look at the ALGO / USDT pair on Binance in 4h timeframe. Algorand (ALGO) is today trading at $0.21, and we can see that it is in a downtrend (bearish momentum). According to historic price levels, the expected demand zone is at approximately $0.20. The supply zone is sitting around the price of $0.25. I can see that we are inside a descending trading channel and that we are moving in the direction of a historically very strong demand zone around $0.20. If we hit the price of $0.20, then this is an excellent, almost perfect position for opening a BUY/LONG position (still be careful because of the market conditions, we are still in a bear market). If you will enter trade at the price of $0.20, then you can expect the next targets to be for the short term at $0.25 and later at $0.30. In the case of the Cup and Handle trading pattern, I recommend entering at $0.25 after confirmation, otherwise not. I am expecting a bullish movement for ALGO at the price of $0.20, but just for the short term. Don't forget that we are still in a bear market and there are no signs of a major reversal of the trend. Trend is your friend :) If we break the expected demand zone, we can expect the price to continue falling, and the lowest level for ALGO is around $0.14 from March 2020, but I don't believe this scenario will occur. Have a fantastic day and make the most of it. Greetings, BF
Long
by elfabiiani
2
ALGOUSDT | "Power Of 3"Quick analysis on a textbook bullish "Power of 3" setup on ALGOUSDT What is "Power of 3" - Power of 3 setups occur when "smart/big" money is building a position and creating liquidity. Setups can be seen with bullish / bearish scenarios, today we will be digging into a bullish setup. - While retail can enter positions as orderbook allows, smart money must use more complex methods to build a position. In a bullish scenario we can observe an accumulation zone, price will typically chop in a short range causing traders' bias/positions to flip flop, this is where smart money is building the bulk of their position. In the manipulation zone, price consolidates below a key broken point which will provoke seller/short interest, the added pressure allows smart money to further build the rest of their long position. Once smart money is positioned they want to provoke buyer/long interest (a reclaim of the broken S/R), this is where the expansion phase can begin. There is little to no resistance during the expansion phase because the bulk of short/sell pressure has already been absorbed, because of this, expansion can be quick and harsh. This is just a very quick summary, I urge you to DYOR on "Power of 3" setups and come to your own conclusions/plan My Plan for this scenario - Enter long on a sweep of the manipulation/consolidation lows (i.e. 0.22 - 0.2180), or reclaim of the broken swing S/R - T/P at 0.2750, however, a reclaim of the the monthly open will be key for confirmation of continuation. Reclaim 0.2750 and I will be eyeing further T/P toward liquidity at the broader range highs (marked on chart) - Invalidation = clean break/close below range lows, or a breakdown on BTC
Long
by TraderImagine
2
ALGOUSDT is testing the rangeThe price is testing the resistance inside the range after a new lower low How to approach it? IF the price is going to have a breakout, According to Plancton's strategy , we can set a nice order ––––– 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
26
ALGO - let's make a pumpEverything move price is done on small volumes. So as not to spoiler the buyer. I wonder if the project will have any updates soon or if it's the time of the pump) Accumulation on this trendline(red collor) will open the way to the level of 0.2494. And there and to the impulse of 5% will be able to do it on easy. If you like the idea, please "Like" it. This is the best "Thanks!" for the author 😊 P.S. Always do your own analysis before a trade. Put a stop loss. Fix profits in installments. Withdraw profits in fiat and please yourself and your
Long
by Artem_Dishel
2