ALGOUSDT trade ideas
⚡️ALGOUSDT CMC TRADING ⚡️ DESCENDING TRIANGLEALGO is currently confined within a descending triangle pattern. To determine the potential future direction, it is advisable to exercise patience and await confirmation of the breakout. There is a higher likelihood of a bullish scenario, with a potential bull run anticipated to retest the recently established highs, should the breakout confirm as expected.
ALGO: Approaching ResistanceTrade setup : Price is in an Uptrend and approaching $0.24 resistance. If it breaks above that, it could revisit $0.30 next. Previously, price broke above 200-day moving average, which confirmed a bullish trend reversal to an Uptrend.
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 $0.20 (previous resistance), then $0.18. The nearest Resistance Zone is $0.24, then $0.30.
#ALGOUSDT T.F : 1 Hour#ALGOUSDT T: F - 1 HOUR.
#ALGOUSDT formed a distorted Symmetrical Triangle, which is a Trend Continuing Pattern, however the direction of the breakout must be considered before making entry decisions.
Now trading at $0.2327, the price tested the same level during December 22 and the level at $0.2353 - $0.2960 acted as a zone of RESISTANCE.
Time To Wait And Watch!!
DYOR
#ALGOUSDT #crypto #ALGORAND #marketpdates #thesoumyoroyanalysis
$ALGO UPDATED - Resistance Break Inevitable Just a quick update on our previous EURONEXT:ALGO trade, So far, it has performed as expected, hit resistance within the past week, and was rejected slightly back to it, We're currently expecting the current resistance level to break over the next 48 hours.
Levels to focus on and set alerts at
Updated Target level 1(Major Resistance): $0.2398
Updated Target level 2: $0.3610
Updated Target level 3: $0.5077
Targets from last chart remain the same, Expecting us to break UTL1 (Updated Target level 1) within the next 48 hours, after that major resistance I expect a sharp break upwards towards UTL2 before a potential cook off wick and then continuing to next targets, expect the first two targets to be broken within the week.
ALGO: Approaching ResistanceTrade setup: Price is in an Uptrend and approaching $0.24 resistance. If it breaks above that, it could revisit $0.30 next. Previously, price broke above 200-day moving average, which confirmed a bullish trend reversal to an Uptrend.
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 $0.20 (previous resistance), then $0.18. The nearest Resistance Zone is $0.24, then $0.30.
ALGORAND - THE ONLY EPIC CHART YOU NEED TO SEEMost of you are yet to realise that it is the premium service you paid for to those big accounts you get for free and even more. Now wait till I give you another death sure double percentage on this BINANCE:ALGOUSDT like I gave you on OKX:PEPEUSDT and others.
This one will be EPIC! stay tuned as I would be releasing the CLARIFIED gain+ footage soon.
ALGO UPDATEThis is an update to the previous analysis (see previous analysis on page/comment section for context)
Since according the Elliott Wave Alternation Rule if wave two retraces shallow and fast then wave four is expected to be deep and slow, therefore this criteria fits and I expect wave 4-blue to be a bit choppy and slow before heading up for it final round as depicted on the higher timeframe analysis (see previous analysis on page/comment section for context). BINANCE:ALGOUSDT
ALGO: Potential Peak of SOS Between 22 and 24 CentsHi Everyone! ALGOUSDT has been in a Descending Wedge Accumulation Schematic; kind of similar to BTCUSD. However, BTCUSD transitioned into Phase D much sooner. Why? The Composite Groups (who manipulate the market) wanted to accumulate more Bitcoin on the Altcoin/Bitcoin Pairs. "They" also accumulated more USD and USDT on the Altcoin/USD and Altcoin/USDT pairs and used it to assist with pumping up BTCUSD with an SOS in Phase D much sooner; while dumping alt-coin/USD pairs.
I'm leaning more towards the peak of this Sign of Strength in Phase D reaching its peak between $0.2211 and $0.2365. Then that will be followed by a Back-Up/Last Point of Support Period in Phase D.
Happy Trading and Stay Awesome!
David
ALGO Rally Mode: Your Chance to Buy and Prosper!"**Fundamental Analysis**
Algorand is a decentralized blockchain platform that aims to solve the scalability, security, and decentralization trilemma. It uses a unique consensus mechanism called Pure Proof of Stake (PPoS), which is designed to be more efficient and environmentally friendly than traditional Proof of Work (PoW) consensus mechanisms.
Algorand has a number of advantages over other cryptocurrencies, including:
* **Scalability:** Algorand can process thousands of transactions per second, making it more suitable for high-throughput applications.
* **Security:** Algorand uses a cryptographically secure consensus mechanism that is resistant to attack.
* **Decentralization:** Algorand is a permissionless blockchain, which means that anyone can participate in the network.
**Recent News**
* **Algorand Foundation Launches AlgoMint, a Permissioned Sidechain Framework:** The Algorand Foundation has launched AlgoMint, a permissioned sidechain framework that allows organizations to build private blockchains on top of the Algorand network. This could be a valuable tool for enterprises that want to use the benefits of blockchain technology without sacrificing privacy or control.
* **Algorand Integrates with Chainlink Price Feeds:** Algorand has integrated with Chainlink price feeds, which will allow developers to build decentralized applications that rely on reliable and tamper-proof price data. This is a major step forward for the Algorand ecosystem.
* **Algorand Partners with Google Cloud for Blockchain Research and Development:** Algorand has partnered with Google Cloud to research and develop new blockchain technologies. This partnership will help to advance the capabilities of the Algorand platform and make it more accessible to businesses and developers.
**Disclaimer**
Please note that I am not a financial advisor and this is not financial advice. The cryptocurrency market is volatile and the value of any cryptocurrency can go up or down at any time. You should always do your own research before investing in any cryptocurrency.
I hope this information is helpful.
Algorand ($ALGO) Recent Upward Trend and Momentum
Since mid-October, ALGO has been trading in an active upward trend, appreciating by 140%. However, the positive momentum in Algorand has recently slowed down, and the asset has been trading sideways for the past two weeks.
The current resistance zone for EURONEXT:ALGO lies between $0.210 and $0.223. If buyers manage to break through this range, the next target will be the $0.23 level, which could pave the way to new highs. However, this is contingent upon avoiding a deeper correction in BTC, as the correlation between these assets remains significant.
In the event of continued retracement, ALGO might retest support zones between $0.173-$0.184 and $0.150-$0.640. In case of a deeper correction, it could reach down to $0.133.
ALGO: Approaching ResistanceTrade setup : Price got overbought (RSI > 70) after breaking above $0.20 and pulled back on some profit taking. Pullbacks to $0.18 area could be swing trade entry opportunities with upside potential to $0.24 near-term. Previously, price broke above 200-day moving average, which confirmed a bullish trend reversal to an Uptrend.
Trend : Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish but inflecting. MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening.
Support and Resistance : Nearest Support Zone is $0.18 (previous resistance), then $0.15. The nearest Resistance Zone is $0.20, then $0.24.
ALGOUSDT EXCELLENT ACCUMULATION ON BUSD PAIR#ALGOUSDT EXCELLENT ACCUMULATION ON $BUSD PAIR
1-Apply your own risk management.
2-Daily and Weekly Targets
3-Hunt the profits at any level you see convenient for you.
4-Raise Often Your SL to protect your profits.
5-Use 11 % Spot
6-Long it With 7 % LEV5
EURONEXT:ALGO Is excellent for long Investment
Entry Range : 0.176 / 0.158 SL Weekly Close under 0.1480
ALGO BULLS REINSTATES PRESSUREHello Traders, I think Algorand overall Movement is to the 0.220 region. we should watch this bullish movement closely as this is going yo take a while to fulfil.
This is the full analysis for this pair, let me know in the comment section below if you have any questions and suggestions. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. Please adhere to good risk management. Also like, follow and cheer, thank you....
