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ALGUST trade ideas

ALGO/USDT Weekly Chart UpdateHello everyone, I’m Cryptorphic. For the past seven years, I’ve been sharing insightful charts and analysis. Follow me for: ~ Unbiased analyses on trending altcoins. ~ Identifying altcoins with 10x-50x potential. ~ Futures trade setups. ~ Daily updates on Bitcoin and Ethereum. ~ High time frame (HTF) market bottom and top calls. ~ Short-term market movements. ~ Charts supported by critical fundamentals. Now, let’s dive into this chart analysis: ALGO on this weekly timeframe has been in a downtrend since March 2024. The price is already down by 60%, and if the market goes bearish, ALGO is likely to drop a further 48% to 50%. The only bullish scenario for ALGO is to break above the 50 EMA and the resistance trendline. Key Observations: ~ Support/Entry: $0.076 to $0.0909 ~ Resistance: $0.1905 ~ Higher Rallies: $0.2817, $0.4679, $0.8280, $1.5124, $2.3825, $3.44. DYOR. NFA. Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see! Thank you! #PEACE
by Cryptorphic
1
ALGO Price Analysis: Key Supply and Demand Zones (2024-2026)BINANCE:ALGOUSDT The chart shows the price movements of Algorand (ALGO) against Tether (USDT) on a 3-day time frame. Here are some key points and features of the chart: 1. **Supply and Demand Zones**: - There are marked supply zones around the $1.00 to $1.50 range, indicating areas where selling pressure may increase. - A demand zone is highlighted around the $0.0820 to $0.1838 range, suggesting buying interest in this region. 2. **Key Price Levels**: - Significant levels are marked at $0.3728, $0.1838, and $0.0820, with the current price at $0.1431. - The highest marked level on the chart is $2.9900, indicating a potential upper resistance level. 3. **Volume Profile**: - A volume profile on the right side of the chart shows the traded volume at different price levels. Higher volumes at certain price points suggest those levels may act as support or resistance. 4. **Breaks of Structure (BOS)** and **Change of Character (ChoCH)**: - The chart indicates areas where the market structure has shifted, potentially signaling changes in trend. 5. **Price Action Analysis**: - The historical price action shows peaks and troughs with specific points of interest (POI) marked. 6. **Current Trend**: - The price appears to be in a downward trend, reaching a low around the $0.0820 mark before bouncing back to the current price of $0.1431.
Long
by Motivation_Voice
ALGO/USDT MAY 2024It's been a while since our last chart update, but now is a great time to analyze some long-term patterns in altcoins. We still have a few spot trades open, and ALGO looks particularly promising with its potential for significant profits. Currently, ALGO is showing an accumulation phase, which could lead to massive gains if it maintains the inverse head and shoulders pattern it's forming. The right shoulder is still in progress, indicating potential upward momentum. Exit Targets: First Target: $0.29 area Second Target: $0.45 area Keep an eye on the low of the right shoulder at $0.15, as this level would invalidate the pattern. As always, ensure your money management strategies are in place. Happy trading!
Long
by Seahawks_
1
ALGORAND SETS TO JOIN THE BULLRUN BUT AFTER 20% NUKE BINANCE:ALGOUSDT shows a classical Head & Shoulder Pattern but as an Elliott Wave Trader I see it as a potential Truncated Head & Shoulder and wave 2 about to end. When this wave 2 ends I am expecting ALGORAND to begin it bullish run for the ALT SEASON. At least a x2-5 200 - 500% is guaranteed. Entry is anywhere in between the box and the 618 to 786% Fibonacci level while the invalidation level is at the ALL TIME LOW and the first target is $0.456 presenting us with a 6 Risk Reward Ratio. Remember the PSYCHOLOGY behind this incoming bull run as I have explained before. now many traders are frustrated as much as the bulls and the bears are confused but as price keeps going down the bears will affirm their bias and the bulls hope will begin to shift to being bears just like when BINANCE:BTCUSDT was at 16k and then boom. PREVIOUS ANALYSIS OTHER ANALYSIS BINANCE:ADAUSDT BINANCE:PIXELUSDT BINANCE:APEUSDT BINANCE:NOTUSDT BINANCE:PEPEUSDT
by DewyCandles
8
Long signal for ALGO/USDTThis technical analysis is based on the daily chart of ALGO/USDT on the Binance exchange. This analysis draws two price channels and evaluates support and resistance levels. Price Channel Analysis: The previous bearish channel is broken out, and a bullish channel is formed. The suggested entry point is around 0.1803 USDT. Entry and Exit Points: Entry: 0.1803 USDT Take Profit: 0.2532 USDT (40.43%) Stop Loss: 0.1659 USDT (8.00%) R/R Ratio: 5.05 Conclusion: This analysis suggests that by adhering to the specified take profit and stop loss levels, a successful trade can be achieved. The Reward/Risk Ratio for this trade is approximately 5.05, indicating a highly favorable risk-to-reward scenario. To manage risk effectively, it is recommended to strictly follow the stop loss level.
Long
by QuantCT
1
Algousdt Buy opportunityAlgousdt is currently exhibiting a potential cup and handle reversal pattern following a significant drop. This pattern suggests a forthcoming bullish trend for the coin. The designated buyback zone presents an attractive opportunity for purchasing, with expected targets highlighted on the chart. It is advisable to set the stop loss below the handle area to mitigate risks. We invite you to share your thoughts and comments on this analysis. Your input is valued.
Long
by weslad
5