AlgorandShort
Trapped In A Wedge, Is ALGO Price Going under $0.10?
ALGO price struggling to maintain near resistance trendline forms a falling wedge pattern in the daily chart.
ALGO price may fall under $0.10 with an intraday drop of 1.37%, potentially setting a new low at $0.050.
A continuous downtrend has led to ALGO coin prices decreasing by 45% in the last four months.
Despite near-resistance trading, the recent 1.37% downfall forms a bearish candle, indicating a potential fall.
Increased trading volume supports the drop in ALGO price, implying significant supply pressure.
If prices close below $0.1084, the XLM trend may test the support trendline of the falling wedge.
Bearish rally indicated by sideways Stochastic indicator trend and falling RSI line.
If XLM prices fall below $0.10, a new low of $0.055 could be established, a 45% drop.
However, lower price rejection could drive ALGO prices above the resistance trendline, potentially triggering a breakout rally with prices reaching as high as $0.15.
ALGO price may fall under $0.10 with an intraday drop of 1.37%, potentially setting a new low at $0.050.
A continuous downtrend has led to ALGO coin prices decreasing by 45% in the last four months.
Despite near-resistance trading, the recent 1.37% downfall forms a bearish candle, indicating a potential fall.
Increased trading volume supports the drop in ALGO price, implying significant supply pressure.
If prices close below $0.1084, the XLM trend may test the support trendline of the falling wedge.
Bearish rally indicated by sideways Stochastic indicator trend and falling RSI line.
If XLM prices fall below $0.10, a new low of $0.055 could be established, a 45% drop.
However, lower price rejection could drive ALGO prices above the resistance trendline, potentially triggering a breakout rally with prices reaching as high as $0.15.
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