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Algo

Can ALGO Break Free? Bulls Eye $0.531, but First $0.453! Algorand ALGO is tiptoeing around $0.4288, the mid of the range zone with slow and choppy price action. 1 A decisive break above $0.453 could give the bulls a reason to celebrate, clearing the path for a run toward the next resistance at $0.531. If momentum builds, we could see ALGO stretching its legs and aiming even higher (Green Projections). 2. On the flip side, if $0.398 fails to act as a safety net, things could get bearish short-term. Bears might take charge, dragging the price toward the next support at $0.32. That’s where traders may want to look for potential signs of life and opportunity to DCA (Red Projection). To sum it up: $0.453 is the hurdle bulls need to clear for upside excitement, while $0.398 is the line in the sand for buyers. It’s ALGO’s time to decide—will it climb higher or hit the floor? Stay tuned!
by Trade-Lean
Algo:Bullish Momentum Intact for a Potential Upside continuationAlgo/USDT has been one of the standout performers among altcoins over the past month, with the price soaring by over 500%. After peaking just above $0.60, the coin experienced a healthy correction, forming a local low at $0.35, a level slightly above March's high. Following this correction, BINANCE:ALGOUSDT entered a consolidation phase, creating a base around the $0.40 mark. This consolidation suggests the market is gathering strength for another potential upward move. Currently, the price action indicates that Algo/USDT may be preparing for a new leg higher, with a likely target at the significant resistance near $0.70. From a strategic perspective, I remain bullish as long as the $0.32 support level holds firm. The suggested approach is to buy dips, capitalizing on opportunities within this uptrend. Key Levels to Watch: - Support: $0.35 (recent local low), $0.32 (critical support) - Resistance: $0.60 (previous high), $0.70 (major target resistance)
Long
by Mihai_Iacob
ALGOUSD Bull Flag giving a new opportunity to buy.Algorand (ALGOUSD) posted last week its first red 1W candle after an impressive rally of 5 straight green weeks since the U.S. elections. This rally technically stopped on the 1W MA200 (orange trend-line), as although it crossed it, it failed to close the 1W candle above it, which resulted in last week's rejection and red candle. The 1W RSI turned from extremely overbought (+85.00) to about turn just bullish below the 70.00 barrier. The last time we saw a similar price/ 1W RSI behavior was during the November 2020 - February 2021 rally. As you can see, both started on Bull Flag formations that initiated those impressive rallies that were supported by the 1W MA50 (blue trend-line). When the February 08 2021 1W RSI hit 85.00 and got rejected, the price started a new Bull Flag pattern that by June 21 2021 hit the 1W MA50 and after forming a multi-week Support base, it rebounded again aggressively. The whole sequence from the November 2020 rally to the November 2021 Top was a +1200 rise. We expect a similar development and as the dominant historic pattern of Algo seems to be a Channel Down, the next rally can complete a +1200% rally just below the pattern's top (Lower Highs trend-line) at $1.200. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:ALGOUSD
by TradingShot
1
ALGOUSDT 2H: Descending Wedge Breakout - Bullish ContinuationThe ALGO/USDT pair has formed and broken out of a descending wedge pattern, which is typically a bullish continuation pattern. The price action shows a clear upward momentum after breaking the upper trendline resistance, suggesting the potential start of a new upward movement. Key Technical Observations: The primary trend had been bullish before entering the wedge consolidation, with price making higher lows during the broader uptrend. Within the wedge, we saw contracting volatility with lower highs and lower lows, but the breakout occurred with increased momentum. Support has formed around the 0.464 level, which previously acted as resistance, demonstrating a successful support/resistance flip. Price Targets: 1. Initial target: 0.6054 (previous resistance level) 2. Extended target: 0.7398 (projection based on the previous upward movement) Trading Setup: - Entry Conditions: Price has already broken above the descending wedge resistance and shown initial confirmation. Current price at 0.4374 offers an entry opportunity with the trend. - Initial Stop Loss: Place below the recent swing low at 0.4200, providing adequate room for normal market volatility Risk Management: - Stop Loss Placement: Below the wedge pattern's support trend line to invalidate the setup - Position Scaling: Consider entering 50% position now and adding 25% at each retest of broken resistance - Market Conditions to Watch: Overall crypto market sentiment and Bitcoin's price action Additional Considerations: The breakout is occurring with increasing volume, which adds credibility to the move. The prior uptrend's strength suggests this continuation pattern could have significant upside potential. Trade Validation: - Bullish Case: Sustained trading above 0.4400 with increasing volume - Invalidation: Clean break below 0.4200 would negate the bullish setup Market Context: The crypto market has been showing signs of renewed strength, which supports the bullish case for ALGO. The clean break of the wedge pattern aligns with broader market dynamics, suggesting higher probability of success for this setup.
Long
by Achilly
Algorand (algo)Algo usdt Daily analysis Time frame 4hours Risk rewards ratio >1.3 👈 Algorand rank is 40 and market cap 4.21 NYSE:B It's all time high is 3.28 $ and you can see , good growth for this in altseason Algorand is a self sustaining decentralized, blockchain base network that supports a wide range of applications. This system is secure, scalable and efficient All critical properties for effective applications in the world. Algorand will support computation that requires reliable performance guarantees to create a new formes of trust. Technically we have no resistance in the way of my first target. Just a weak resistance in 0.69$ area.
Long
by Habib-Tafazoli
Algorand (ALGO/USD) 4-Hour Chart: Price Action Analysis Title: Algorand (ALGO/USD) 4-Hour Chart: Price Action Analysis and Key Structural Shifts Post: A thorough analysis of Algorand's 4-hour chart reveals a significant transformation in market sentiment, marked by key structural changes at pivotal price levels. Here's an in-depth exploration of the price action structure theory about this chart: Trend Transition: Initially, Algorand was on an upward trajectory, as evidenced by a series of ascending highs and lows. However, a critical level of around 0.4670 USD emerged as a decisive point, where the sentiment shifted from bullish to bearish. This level's repeated testing highlights its role as a crucial psychological and technical barrier. Change of Character (CHoCH): The chart highlights a significant "Change of Character" moment, labeled as "CHoCH". This event signifies when the price forcefully broke below-established support levels, marking a clear transition of control from buyers to sellers. Formation of a Downward Channel: After experiencing the CHoCH, Algorand's price action subsequently formed a descending channel, marked by two parallel trendlines. This structure represents a bearish phase, characterized by the consistent formation of lower highs and lows, reflecting ongoing selling pressure. Retesting Key Levels: The price has recently retested the level around 0.4667 USD, which it had broken through previously. Now serving as resistance, this level reminds the market of its former role as support. The inability to surpass this point, followed by a decline, solidifies the current bearish sentiment within the channel. Current Market Dynamics: Post-test, the price has resumed its downward path, sticking closely to the upper boundary of the channel. This behavior indicates that sellers are still dominant, potentially guiding the price towards or even beyond the channel's lower boundary, depending on broader market dynamics. Key Level Insight: An essential level to watch is approximately 0.4703 USD, the 4-hour RSI high, acting as a significant resistance during recent price actions. Additionally, the 4-hour "closed" low at 0.3858 USD and the "low" at 0.35 USD, which was a 50% retracement from the local top, along with some support around 0.4230 USD. Future Market Outlook: Traders should stay alert for signs of either a continuation of the current downtrend or a potential breakout. A break above the channel's upper boundary could signal a shift back to bullish conditions, while a move below the lower boundary might indicate a deepening of the bearish trend. Notably, the RSI has reset and confirmed a new low, suggesting watching for a break from the established lower high or low structure.
COINBASE:ALGOUSD
by RSI_Trading_Concepts
1
Algorand (ALGO) Surges 1650% at 10x Leverage!Algorand (ALGO) Trade Overview: Algorand (ALGOUSDT) delivers an explosive performance, achieving a phenomenal 1650% gain at 10x leverage using the Risological Trading Indicators . The 4-hour timeframe captured this breathtaking rally as ALGO hit all targets and surpassed expectations. Key Levels: TP1: 0.1247 ✅ TP2: 0.1364 ✅ TP3: 0.1482 ✅ TP4: 0.1555 ✅ Technical Analysis: The trade was initiated as ALGO broke past the Risological Green Lines, confirming a strong bullish momentum. The gradual upward curve of these lines provided early indications of sustained buying pressure. The price surged consistently, clearing all the predefined targets with ease. This move reflects a textbook breakout scenario, powered by volume spikes and an aligned bullish sentiment in the market. Traders leveraging Risological tools were well-positioned to capture this remarkable upside, securing massive profits.
Long
by ProfitsNinja
Inverse head and shoulders and golden cross on algorandMuch like litecoin’s current setup, algorand is also in the midst of completing the right shoulder of its inverse head and shoulders pattern as a golden cross is set to occur in the next 2 -4 daily candles. Hopefully the golden cross on both algorand and litecoin provide the same bullish momentum we’ve seen it already provide xlm, solana, and the total chart, if so we should see the price action break above the enckline of this inverse head ad shoulders pattern not long after. I’ll link the litecoin chart down below for easy access to compare the similarities between these two charts. *not financial advice*
COINBASE:ALGOUSD
by DrDovetail
Alikze »» ALGO | Scenario 3 or C bullish - 1W🔍 Technical analysis: Scenario of the first cycle bullish wave 3 or C - 1W BINANCE:ALGOUSDT In the daily time frame, the ascending channel is moving. - In the analysis presented in the previous post , after reaching the dynamic trigger, it faced selling pressure and, after a correction of 0.23 Fibo of the previous wave, it was able to continue the upward movement to the supply area. - Considering the previous movement structure, which had an upward cycle to the 33 cent range, after which it made a three-wave downward correction cycle. 💎After that, by forming a Double Bottom, it was able to touch the middle of the channel and the neckline by creating demand. 💎Considering the momentum, this movement cycle can continue to the ceiling area of ​​the ascending channel and the supply area, and then with a temporary correction in the middle of the channel, it can continue the upward path to the second supply area. ⚠️In addition, if the price enters the Invalidation LVL range during this upward phase, the bullish scenario is invalidated and must be re-examined and updated.⚠️ »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Best Regards,❤️ Alikze. »»»«««»»»«««»»»«««
Long
by alikze