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AlgorandAA
#52#52#52

Algorand

0.1866USDR
+0.0003+0.16%
As of today at 06:25 GMT
USD
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ALGOUSD trade ideas

Algorand / USD | Chart & Forecast SummaryKey Indicators On Trade Set Up In General 1. Push Set Up 2. Range Set up 3. Break & Retest Set Up Notes On Session # Algorand / USD - Double Formation * 0.1650 USD Support Area | Break Out | Subdivision 1 * 012345 | Wave 3)) Ongoing - Triple Formation * Pennant Structure At 0.3110 USD | Subdivision 2 * Neckline | Bottom Structure At 0.5000 USD | Subdivision 3 * Trend, Behaviour & Entry Active Sessions On Relevant Range & Elemented Probabilities; London(Upwards) - NYC(Downwards) Conclusion | Trade Plan Execution & Risk Management On Demand; Overall Consensus | Buy
CAPITALCOM:ALGOUSDLong
by TradePolitics
ALGO Update Lower Time FrameThis is just a zoomed in version of my previous chart to show the lower time frame analysis that I am tracking at the moment. Wave counts are always difficult I think when price is moving so impulsively. However, the most obvious move in all of it is this recent downside flush, which has created a perfect ABC correction. These almost always mark the end of a wave 1 and this is why I have concluded we are in wave 2 of 3 of this impulsive move. My upside target for the end of this run up (which I think is a wave 3 of 5) is somewhere between $5 and $10, with some bumps along the way. My wave count beyond existing price action is purely speculative at present and will likely change...
CLong
by cultureofwoods
2
Is ALGO finished consolidating?Yes, with ALGO we can expect it to feel like it suddenly moons, as this is typical. Historically, ALGO's prices have fluctuated heavily as it climbs so if you are a holder theres nothing to worry about on those dips that we just went through. You'll see well continue climbing this linreg channel on the 4 hour. It will continue its steady incline to $1 and then $2. No TA needed there just look at the previous bull runs For now I'm heading to another traders house for beers and I expect to see at least $0.52 ALGO while sipping them.
CLong
by spencertradez
3
ALGO UpdateThere are many ways to interpret this chart but I am viewing it as a high time frame ABC from the launch price, which is extremely bullish long-term. Given that Algorand is currently a key part of the planned quantum financial system, together with XLM, XRP, IOTA and XDC (all the biggest gainers in this recent run up), I think this is the most likely interpretation. Price has just broken above the B wave of the larger C wave and this is the first sign of reversal. The purple box is the expected consolidation zone before a move up to all time highs, with $1.844 being a likely minor resistance along the way. Looking at the recent move from a Wyckoff perspective, we have had the spring, retest and now price is probably at the last point of supply. The sell off has priced in an ABC from the all time lows, reaching the 1.236 extension of a possible A wave but I think this is likely a shakeout to cast doubt on the bullish hypothesis.
CLong
by cultureofwoods
1
Algorand (ALGO) Market AnalysisCurrent Market Conditions As of December 2, 2024, Algorand (ALGO) is trading at approximately $0.48 USD, with a 24-hour trading volume of $1.96 billion USD. The cryptocurrency market is experiencing a period of moderate volatility. Technical Analysis: The ALGO/USDT chart is showing a potential breakout scenario. The price is currently consolidating below the 0.236 Fibonacci retracement level, which is acting as a resistance. A successful break above this level could trigger a significant price increase. Key Levels to Watch: - Resistance: 0.236 Fibonacci retracement level (approximately $0.53 USD) - Support: 0.382 Fibonacci retracement level (approximately $0.38 USD) - ATH: $3.28 USD (reached on June 21, 2019) Market Sentiment: The overall market sentiment for ALGO is bullish, with many traders and investors expecting a breakout above the 0.236 Fibonacci retracement level. A successful break could lead to a significant price increase, potentially reaching the ATH. Trading Strategy: - Long-term investors: Consider accumulating ALGO on dips, with a target price of $3.28 USD (ATH). - Short-term traders: Watch for a breakout above the 0.236 Fibonacci retracement level (approximately $0.53 USD). If successful, consider entering a long position with a target price of $1.50 USD. Risk Management - Set stop-loss orders below the 0.382 Fibonacci retracement level (approximately $0.38 USD) to limit potential losses. - Consider scaling into positions to manage risk and maximize potential gains. By closely monitoring the ALGO/USDT chart and watching for a breakout above the 0.236 Fibonacci retracement level, traders and investors can potentially capitalize on a significant price increase and reach the ATH.
CLong
by KeleabetsweMaseko
Algo possibly to 1$Algorand has finally caught an upward spike after being rather stable at its lowest value for close to 2 years. In the current Alt market, people are looking for: - Relatively small market cap - Previous ATH to be much higher than current value - A long stable bottom, but a good sign of upwards potential Algo was tricky for a long time, skipping most of the upwards trend so far until now, exploding with a big move. This can also be worrisome as a correction usually follows big moves like this. Here is why I dont think a correction will actually follow: - Trading volumes are mostly for buys above the 0.30$ mark - Most volume was between 0.37-0.47, with a lot of selling happening there It does seem like most people are just getting on the ride. Things to be careful about: - Algorand does not have the same amount of currency in circulation now as it did back in 2022 2022: 6.95B 2024: 8.3B Which does mean that its nearing its full amount of market cap/currencies in circulation, but people have been staking Algo for a few years now and receiving Algo according to the release schedule. I expect people to partially sell as Algo hits the 0.70$ and the 1$ marks. If you plan to hold Algo long term, careful not to buy too much above those numbers for now, as a large correction will be very likely. Its not at all unlikely that Algo can print an ATH during this run, lets see what December brings us. Good luck trading, and don't forget to place targets and stop losses. And remember, this is not a financial advise, trade at your own risk.
CLong
by eldeoy
4
Algorand mark up phase (Part 2)This is an addition to the ongoing macro trade idea from the spring phase low. This whole structure here, looks to me like one long wyckoff accumulation campaign and Adam / Eve double bottom. This is your sign of strength, and the expectation is to return to the range high, and likely see a partial decline or consolidation once achieved. If i am correct here, we could expect eventual targets at the 100% measured move of the range, confluent with both the 1.618 extension of the spring correction, and a 4.236 of wave 1 coming up. This is a weekly chart, this will take time and itll probably be a difficult hold, but if it continues to play out in this fashion, that will be my expectation until proven otherwise.
BLong
by TradingNomadic
Algorand Current Market StructureGood Day Fellow Traders The ALGO chart is currently exhibiting a short-term ABCD pattern, indicating a potential reversal or continuation. Throughout the last week, ALGO has demonstrated impressive gains, suggesting a robust bullish momentum. Support and Double Bottom Confirmation ALGO has found significant support at the $0.25 level, which is confirmed by a double bottom pattern. This support level serves as a crucial foundation for the potential bullish continuation. ABCD Pattern and Point D Projection The ABCD pattern suggests that ALGO might be cooling off temporarily before resuming its upward trajectory. If the pattern plays out, we can expect ALGO to reach Point D, which could mark the beginning of another bullish leg. Bullish Continuation and Potential ATH Upon reaching Point D, ALGO may experience a bullish resurgence, potentially leading to new all-time highs (ATH). The double bottom confirmation and the ABCD pattern suggest that ALGO is poised for a continuation of its uptrend. Conclusion In conclusion, the Algorand chart is exhibiting a short-term ABCD pattern, indicating a potential bullish continuation. The double bottom confirmation at $0.25 provides a solid support level, and reaching Point D could mark the beginning of another upward leg. As ALGO cools off temporarily, it may be preparing for a more significant bullish move, potentially leading to new all-time highs.
CLong
by KeleabetsweMaseko
1