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Algorand / TetherUS

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ALGOUSDT trade ideas

Algo relief rally and drop in JanuaryBINANCE:ALGOUSDT Just a local picture for January Possible Targets and explanation idea ➡️After hype around World Cup championship we dropped down and found the main support zone. ➡️I think this is the potential bottom for now for $ALGO ➡️Local trade can be looks like this on 12H timeframe ➡️According Crypto4light Direction indicator whales accumulated Algo all December. Now we see clear signal to pump on both indicators ➡️Local stop losses now over 0.23 cents so we have a little bit range to grab this tiny stop losses and go back test 0.17 like support ➡️ In February we will see price over 0.30 and maybe 0.50 for ALGO. More clear higher timeframe global chart ill post in another idea ➡️With path I showed potential direction for January local time period trades Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! ✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes. * Look at my ideas about interesting altcoins in the related section down below ↓ * For more ideas please hit "Like" and "Follow"!
Long
by Crypto4light
3
Algorand (ALGO) Fibonacci Retracement AnalysisThe chart you've shared is a technical analysis of the cryptocurrency Algorand BINANCE:ALGOUSDT (ALGO) against Tether (USDT) on a daily timeframe (1D). Here’s a breakdown of what the chart and the provided details represent: **1. Overview:** - **Price Movement:** The chart shows the price movement of ALGO/USDT over time, with a clear downward trend visible from the early part of 2023 to the present. - **Indicators:** - **Heikin Ashi:** The candlestick type used is Heikin Ashi, which is a variant of candlestick charts used to better visualize trends. - **Fibonacci Retracement Levels:** These are horizontal lines indicating areas of support or resistance at key Fibonacci levels before the price continues in the original direction. **2. Fibonacci Retracement Levels:** The Fibonacci retracement levels are calculated based on the swing high (Top: 0.3299) and swing low (Bottom: 0.0938) observed in the chart. These levels help in predicting possible future price reversals or extensions. - **0.786 Fibonacci Level:** This is marked at 0.2794. - **0.618 Fibonacci Level:** This is marked at 0.2397. - **0.50 Fibonacci Level:** This is marked at 0.2119. - **0.382 Fibonacci Level:** This is marked at 0.184. **3. Target Prices (TP):** The potential target prices (TPs) are based on these Fibonacci retracement levels: - **TP 1:** 0.184, corresponding to the 0.382 Fibonacci level. - **TP 2:** 0.2119, corresponding to the 0.50 Fibonacci level. - **TP 3:** 0.2397, corresponding to the 0.618 Fibonacci level. - **TP 4:** 0.2794, corresponding to the 0.786 Fibonacci level. - **TP 5:** 0.3299, which is the top Fibonacci level and represents the highest price point used in the retracement. **4. Technical Indicators:** At the top right of the chart, there are several technical indicators: - **Open Price:** 0.1128601055 USDT. - **Close Price:** 0.113575 USDT. - **Change Percent:** The price has increased by 1.3836% from open to close. - **RSI (Relative Strength Index):** 29.1377, indicating the current momentum of the price. - **ATR (Average True Range):** 0.0116, showing the volatility of the price. - **Volume:** 3,004,730 USDT. **5. Moving Averages:** The chart also shows the values of various moving averages (SMA and EMA), though specific lines may not be visible on the chart itself: - **SMA50, SMA100, SMA200:** These represent the 50-day, 100-day, and 200-day Simple Moving Averages. - **EMA50, EMA100, EMA200:** These represent the 50-day, 100-day, and 200-day Exponential Moving Averages. **Summary:** The chart suggests that after a significant decline, the price of ALGO is currently at a support level (0.1178 USDT). If it begins to rise, the Fibonacci retracement levels provide potential target prices, with the first target at 0.184 USDT (TP 1) and the highest target at 0.3299 USDT (TP 5). The indicators suggest a slightly bullish sentiment with a recent small gain in price, but the overall momentum (RSI) remains relatively low.
Long
by CryptoFiboTrends
ALGOUSDT.1DExamining the ALGO/USDT chart, there are several crucial points to consider from a technical perspective: Technical Analysis Resistance and Support Levels (R1, R2, S1): The ALGO/USDT trading pair is currently navigating through a challenging phase, having experienced significant pullbacks from its recent highs near the R2 level at $0.2336. The price is oscillating around the R1 level at $0.1672, which now serves as a key resistance level. A decisive break above this level could signal a shift towards a bullish sentiment. The chart indicates a critical support level at S1 ($0.0834). This support has been tested multiple times, suggesting it is a significant level for the pair. MACD Indicator: The Moving Average Convergence Divergence (MACD) is below the signal line, reflecting ongoing bearish momentum. The widening gap between the MACD line and the signal line underpins this bearish outlook. The histogram remains in the negative territory, which corroborates the strength of the prevailing bearish trend. RSI: The Relative Strength Index (RSI) is hovering just above the oversold territory, indicating that while there is bearish pressure, the market could be nearing a point of reversal if it enters and rebounds from oversold conditions. Conclusion The ALGO/USDT chart depicts a market currently under bearish control as evidenced by the resistance levels and MACD readings. The proximity of the price to the critical support at S1 suggests that this area could be pivotal. If the price sustains above S1, there might be potential for consolidation or a mild recovery, especially if the RSI shows signs of a turnaround from oversold conditions. On the other hand, a break below S1 could intensify selling pressures, potentially leading to new lows. Given this analysis, my approach would involve closely monitoring the S1 level for any signs of a breach which would necessitate reassessing any long positions. Conversely, a rebound from this level could offer a strategic entry point for a short-term bullish trade, particularly if accompanied by positive divergences in MACD and RSI, signaling weakening downward momentum.
by MarsSignals
ALGO Analysis: Identifying Key Levels✨ Welcome to my channel. Here, we analyze a new crypto project or Forex pair every day. 📅 Let's dive into today's analysis, focusing on the ALGO coin in the crypto market. 🗂 About the Project: ALGO is a blockchain-based project with its own ecosystem and blockchain. It is one of the popular networks for DeFi enthusiasts, and if you're interested in this space, you're probably familiar with this blockchain. ⌛️ Weekly Timeframe In this timeframe, ALGO experienced a significant downward movement, currently stabilizing around $0.1572. The price has tested the $0.1547 support level multiple times. The volume has been fluctuating, showing signs of both accumulation and distribution phases. 📈 If the price is supported and candles stabilize above the $0.1547 area, we can confirm that the price trend has potential for a bullish reversal. The main resistance for confirming an upward trend is at $0.2808. For ALGO to have a significant pump, the price must stabilize above this area, allowing you to enter a buying position according to your trading strategy after confirmation. 📉 If the price returns below $0.1547, the next significant support is at $0.0992, indicating a continuation of the bearish trend. 📊 In both scenarios, candle volume must confirm the price movement, and there should be no volume divergence; otherwise, the trend will not be healthy. ⌛️ Daily Timeframe In this timeframe, you can see more details of the price movement. As indicated, the price ranged for a long period on the $0.1502 support and, after a breakout and pullback, initiated another downward wave to the $0.1297 area. Currently, there is significant bearish momentum in this timeframe, and the volume aligns perfectly with the downward trend. Given the strong support at $0.1502, we can expect another bearish wave if candles stabilize below this area. ⌛️ 4-Hour Timeframe In this timeframe, the price has pulled back to the $0.1605 resistance. Volume is gradually decreasing, indicating that the long-term downward trend impacts the 4-hour timeframe. This upward movement offers a potential entry point for a short position. 🔑 Key Levels: For a long position, the key levels are $0.1716, $0.1989. For a short position, $0.1502, and $0.1297 are critical areas where the price may react in the future. 💥 RSI Oscillator: The RSI is ranging between 45.73 and 51.84, and breaking either of these levels can provide confirmation for opening positions. However, be sure to use these levels only for confirmation and rely on candles to find the trigger. 🎲 My Strategy: Given the bearish market in the 4-hour and daily timeframes and the potential trend change in the weekly timeframe, I prefer to open a short position on this coin as I always trade in the direction of the momentum. However, there's no necessity for you to do the same; everyone should trade based on their strategy and plan. This is a personal decision, and each trader must find their strategy. ⚠️ Please note that this is not financial advice. I'm simply introducing this project to you, and remember always to do your own research. 🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
by itsparham96
ALGORAND SETS TO JOIN THE BULLRUN BUT AFTER 20% NUKEThe Other Elliott Wave Count 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. OTHER ANALYSIS BINANCE:ALGOUSDT BINANCE:ADAUSDT BINANCE:PIXELUSDT BINANCE:APEUSDT BINANCE:NOTUSDT
by DewyCandles
2
ALGO Confirmed a Bullish Wedge PatternALGO Confirmed a Bullish Wedge Pattern During these days ALGO confirmed a bullish wedge pattern signaling the beginning of a bigger bullish wave. The breakout from the pattern looks solid and it keeps printing green candles so far. Any small correction is expected before the price resumes the bullish move again. Expected resistance zones 0.1900; 0.2400 and 0.3000 You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Long
by KlejdiCuni
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