ALGO ready for breakouthi dear trader
this price action for algo withb usdt pair
algo ready for breakout downtrend channel
there are entry and target and stop loss found in this chart
What Is Algorand (ALGO)?
Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are secure, scalable and efficient, all critical properties for effective applications in the real world. Algorand will support computations that require reliable performance guarantees to create new forms of trust.
The Algorand mainnet became live in June 2019, and was able to handle almost 1 million transactions per day as of December 2020. Algorand transaction metrics can be viewed here. Algorand initial coin offering (ICO) was held in June 2019, with the Algorand price of $2.4 per token.
goodluck
ALGOUSDT trade ideas
ALGO: Resistance BreakoutTrade setup : Price is in an Uptrend. Following a bullish breakout from a Channel Down pattern, price has also broken above $0.20 resistance to signal continuation of uptrend, with + 20% upside potential to $0.24. Stop Loss (SL) at $0.18, just below prior swing low.
Trend : Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance : Nearest Support Zone is $0.17 (previous resistance), then $0.15. The nearest Resistance Zone is $0.20, which it broke, then $0.24.
ALGOUSDT Long-term and Short-term ViewI think ALGO is a great project but I know it has been a frustrating investment journey. I believe we have completed an ABC correction off the launch price and now we are in the first wave of a new impulse to new highs. The target of this wave is the 0.382 retracement (around $1.19) from the B wave, which was a zigzag correction. I think we have completed wave 1 of this first impulse and are entering wave 3, for which the target is around $0.83. It is possible it might not be on the way up yet; price is currently at resistance and there could be more corrective price action before we head higher.
AlgoUsdt is bullish and prices are looking to go upwardsHI everyone,
The old coins are finally shifting trends.
Algorand is one of them
The charts are looking positive
Inverse head and shoulders formation underway
12/26 Ema are bullish and pointing upwards
Price crossed 100 ema and will act as support
I am expecting .65 Cents to .70 cents target
On rsi indicator, the rsi line successfully retested previous trend line as support and momentum will take rsi to overbought level if momentum keep coming
Please like and subscribe as more charts are coming and more opportunities are presenting itself
ALGO // Bearish Momentum on 1h // Possible SHORT Technical Analysis Summary:
My technical analysis of ALGOUSDT on the 1-hour timeframe reveals bearish signals with the potential for price decreases. Here are my downside targets:
Target 1: 0.20297
Target 2: 0.20164
Target 3: 0.19857
Supporting Indicators
Relative Strength Index (RSI): Sell signal (42.932)
Stochastic Oscillator (STOCH): Neutral (52.707), but could turn bearish
Stochastic RSI (STOCHRSI): Oversold (0), suggesting a potential bounce before downtrend resumes
Moving Average Convergence Divergence (MACD): Despite a 'Buy' signal (0), the overall trend leans bearish.
Average Directional Index (ADX): Moderate trend (34.361).
Williams %R: Deep in oversold territory (-95.181), potential for a short-term bounce.
Commodity Channel Index (CCI): Strongly negative (-191.269), a bearish sign.
Average True Range (ATR): Low volatility (0.0024) could mean limited price swings.
Contrarian Viewpoint
Potential factors that could challenge the bearish trend include:
Unexpected positive news or a market-wide upward movement
Short covering leading to a temporary price bounce
Important Reminders
Timeframe: Consider longer timeframes for a broader perspective.
Volatility: Be mindful of cryptocurrency market volatility. Utilize stop-loss strategies, especially with short positions.
Fundamentals: Monitor news and events influencing ALGO and the crypto market.
Disclaimer: This analysis is for educational purposes. Trading carries risks. Conduct your own thorough research before making any decisions.
Let's Discuss
Do you see this bearish trend continuing?
What are your thoughts on the potential downside targets?
ALGOUSDTALGOUSDT is in strong bullish trend.
As the market is consistently printing new HHs and HLs.
currently the market is retracing a bit after last HH, which is 50% Fib retracement level and local support as well. if the market successfully sustain this bullish confluence the next leg high could go for new HH.
What you guys think of this idea?
Will Algo/Usdt do a correction?Hello,
We see that Algo/Usdt has made appropriate movements according to the Fibonacci Retracement Levels in the channel it has been in since the beginning of the year. Even though I am on the bulls side in the macro view, it is possible that it will do a correction at least to 0.786 and maybe even 0.618 levels from here.
Short around $0.210 to
TP1: $0.1978
TP2: $0.1887
Cheers,
ALGOUSDT QUICK TRADE - LONG - 15 MIN TFEmissary over here. Short time. Quick trade.
Yellow line entry limit order - 0.2011
Green line take profit - 0.1905
Red line stop loss - 0.2035
Setup will resolve in 2-3 days, maybe 5. No leverage needed.
DYOR, greettings
Leave your support, comment, boost, follow and thank you beforehand.
ALGO/USDT Main trend. Cycles. 07 2023Logarithm. Time frame 1 week. Main trend.
Linear for clarity. .
Previous closed learning/work idea on this asset. Published 09 2022
ALGO/USD Major trend. Accumulation/distribution
Local trend and this reversal zone is shown in the main trend now.
Price recovery from the recent squeeze. Consolidation and formation of triangle formation. High probability of reversal. First local targets shown.
ALGO - Don't Sleep on THIS ALTCOIN 💎Hi Traders, Investors and Speculators of Charts📈📉
Welcome to 2024🥂🥳
And with the new year, we've been focusing on altcoins that have great fundamentals AND great upside potential.
Algorand is a decentralized network built to solve the Blockchain Trilemma of achieving speed, security, and decentralization simultaneously. Launched in June 2019 by computer scientist and MIT professor Silvio Micali, Algorand is a permission less, open-source blockchain network upon which anyone can build. Algorand is designed to be a payments-focused network with rapid transactions and a strong focus on achieving near-instant finality — that means processing over 1,000 transactions per second (TPS) and achieving transaction finality in less than five seconds.
Algorand uses a Proof-of-Stake (PoS) consensus mechanism, and distributes validator rewards to all holders of its native ALGO cryptocurrency. Through strong throughput capacity and equitable community incentivization, Algorand is capable of managing the high-throughput requirements of widespread global usage and a variety of use cases.
As a public smart contract blockchain that relies on staking, Algorand is currently capable of hosting decentralized application (dApp) development and providing scalability. Rising gas fees on Ethereum have led many dApp developers and decentralized finance (DeFi) traders to look for alternative blockchain solutions. Some have turned to Algorand as an Ethereum-alternative for dApp development and DeFi applications.
Algorand is still "in prison", but holding the 50d Moving Averages is the first step towards a new bullish cycle. Look at all of this upside potential:
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CryptoCheck
✴️ Algorand Early Reversal Signals (Name Your Altcoin)We are going to look up close because our goal is to see if there is reversal potential, as the correction has been going long enough and the market is turning all around us.
Algorand hit bottom in August.
We have a higher low in September and a higher low in October (yesterday).
Yesterday's session ended as a Doji which is a reversal signal.
This session also has above-average rising volume.
Summed up:
- Higher lows that lead to a reversal signal supported with rising volume.
These signals are early and weak but still valid.
From this point on a reversal can develop if the bulls follow up.
Additional confirmation comes when prices move above EMA10, EMA21, EMA50, etc.
When the RSI and MACD turn bullish.
When high volume shows up...
This might be a bottom catch.
Thanks a lot for your support.
Namaste.
ALGO Cup & Handle FormationMany alts still trading near the lows looking very bullish in preparation to breakout to the upside. Theyve been consolidating at the lows for very long time and ready to rock & roll.
Entry here is a bit high in terms of risk:reward with the stop loss at the last low ~$0.15.
I suspect a liquidity grad could take place first (retest the breakout) but that may not happen.
You can also look for entry after move up along the top of the c&h line where resistance will be looking to turn into support, thats where bulls will be setting up their next move higher to take out shorts.
Min target is $0.83 which is approx 4x from this 19c range. I would love to get a liquidity dip down to $0.10 before moving higher but that is unlikely to happen, possible but unlikely.
ALGO has taken a very long time with price action so I dont mind entering higher than cycle low ~8c. *c to 25c was a sweet 3x for those of you who bought n took profits, so now lets focus on the move higher to retest that $0.80 to $1 zone
The measured move (cup height) takes us to this zone. EW fib extension calculates to same zone, and we realign with the 0.236 fib retracement all surrounding a major support level that was broken on move down. If bull can reclaim that and turn it back into support, AGLO can continue much higher to complete the EW 5 wave sequence
