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Algorand

ALGOUSDT Technical Analysis ⏳ Spot 💎 ALGOUSDT has been moving in the ranging channel. It has also formed a descending triangle. I expect that the price soon will break above the triangle and continues to go higher. 🏁 Short Term 💵 Invest Only 5% of your Portfolio 🎳 Entry at market or 2.0000 ☕️ TP1 2.4000 🍺 TP2 3.4000 🍻 TP3 ______ 🍾 TP4 ______ 🍷 TP5 ______ 🍸 TP6 ______ 🍹 TP7 ______ 🎁 TP8 ______ 🚫 SL 1.8000 Good Luck 🎲 Check the Links in Description and If you LIKE this analysis, Please support our page and Ideas by hitting the LIKE 👍 button. ❤️ Your Support is really appreciated! ❤️ Traders, if you have your own opinion about it, please write your own in the comment box. We will be glad for this. Feel free to request any pair/instrument analysis or ask any questions in the comment section below. We will have more FREE forecasts in TradingView soon Have a Profitable Day
Long
by Fibonacci-Signals
2
🔥 ALGO Consolidation Before Break OutWe've all seen the huge bullish move that ALGO made last week. Since hitting the $2.50 resistance area, ALGO has failed to break it and is trading sideways, lower bound at $1.90. I'm expecting ALGO to resume the horizontal price movement in the near future. Huge moves like this usually need some time to cool off. Hopefully we can resume the trend later this month and get to $3. I'm looking at the $1.90 area for a potential reversal. Happy trading!
Long
by FieryTrading
15
ALGORAND - 🤔Has Not Exploded as We expected But.... 🙏🙏But a bullish flag on the chart might change things for us. I had posted about Algorand a lot but nothing much has happened since Thursday... Maybe time for volatility to arouse and Algorand to fly? Well i certainly hope so because i have high expectations from ALGOI and funds tied up with it. Let's go ALGO! ps. Checj this great news : SPORTS Drone Racing League lands $100 million deal with crypto platform Algorand
Long
by FX_Professor
7
ALGO Forms Ascending Triangle Near ATH-ALGO has risen 64% over the last week -Price has now formed an ascending triangle -ALGO has been held up by the 30MA 

Algorand just had one of its best weeks in terms of percentage growth since many months ago. Back on the 7th of September, the entire cryptocurrency market experienced a massive pullback that brought many coins down -20% or more. Since then, ALGO has revived over 140% to a new all time high of $2.49. Algorand offers a highly efficient proof of stake blockchain that can outperform many of the other top blockchain platforms. Just now people seem to be realizing the value in these highly efficient blockchain technologies. 

 Ever since ALGO broke over the $1.95 level, it has successfully held it as support. Over the past few days, bulls have been having trouble breaking over the major resistance zone found from $2.22-$2.40. Each time price has touched this level, it has failed to hold it & has gotten rejected back down to the next support. This price action over the last few days has formed what’s known as an ascending triangle. This is a generally bullish pattern as it is activated once the top trend breaks. If bulls manage to hold within the zone ALGO is currently in, expect prices to rise to $2.69 fairly soon. 

 Since the beginning of September, price has been holding above the 30MA besides on September 7th when prices had a flash crash & rebounded right back above it. We can use this MA as a good gauge as to whether or not ALGO is in a bullish trend. At the time of writing, this MA is directly in line with the bottom trend line of the ascending triangle ALGO has formed. In the case that bears assert more control & pull ALGO below its ascending triangle, expect prices to land between $1.77-$1.94. 

 While looking at the Stochastic RSI, we can see strength has just entered the overbought territory. If strength continues within this zone, ALGO may be in position to break towards another ATH. If strength breaks below the 80 value, expect prices to fall back to the support trend of the triangle. While looking at the MACD, we can see the MA’s have been floating well above the 0 value within bullish territory. As long as the histogram continues ticking green, price is in a bullish state. ALGO Intraday Analysis Spot rate: $2.34 Trend: Bullish Volatility: Medium Support: $2.22 Resistance: $2.40
by CoinGape
1