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Algorand

Algorand (ALGO) - June 15Hello? Welcome, traders. By "following", you can always get new information quickly. Please also click "Like". Have a good day. ------------------------------------- (ALGOUSD 1W Chart) If the price holds above the 0.76754798 point, we expect the uptrend to continue. (1D chart) We need to see if we can move higher from the 0.92350974-1.18903235 zone and move above the downtrend line. If it finds support by moving up to the 1.18903235-1.32179365 section, it is expected to lead to further upside. However, if it declines, it is expected that the downward trend will continue, so careful trading is required. ------------------------------------- (ALGOBTC 1W chart) To create a new wave, it must rise above the 4309 Satoshi point. It remains to be seen if support at the 2452 Satoshi point can be found and continue the uptrend along the uptrend line. If it falls below the 1970 Satoshi point, it may take a long time to rise as it enters the mid- to long-term investment area. Therefore, careful trading is required. (1D chart) It remains to be seen if we can climb to the 2792 satoshi-3000 satoshi section. If it falls from the 2374 Satoshi point, Stop Loss is required to preserve profit and loss. If it does not fall below the downtrend line, it is likely to rise, so careful trading is required. ------------------------------------------ We recommend that you trade with your average unit price. This is because, if the price is below your average unit price, whether it is in an uptrend or in a downtrend, there is a high possibility that you will not be able to get a big profit due to psychological burden. The center of all trading starts with the average unit price at which you start trading. If you ignore this, you may be trading in the wrong direction. Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, ultimately allowing the funds corresponding to the profits to regenerate themselves. ------------------------------------------------------------ ----------------------------------------------------- ** All indicators are lagging indicators. Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume. However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator. ** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator. Therefore, the interpretation is the same as the traditional Stochastic RSI indicator. (K, D line -> R, S line) ** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.) ** See support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All descriptions are for reference only and do not guarantee a profit or loss in investment. Explanation of abbreviations displayed in the chart R: A point or section of resistance that requires a response to preserve profits. S-L: Stop Loss point or section S: A point or section where you can buy to make a profit as a support point or section. (Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.) GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they are not traded 24 hours a day. G1 : Closing price when closed G2: Opening price (Example) Gap (G1-G2)
BINANCE:ALGOUSD
by readCrypto
Possible Master Candle On Weekly Chart Significance of Master Candle Master candle signifies a point in time where the price falls into a tight range and both bulls and bears are struggling to move out of this range. The 4 child candles following the master candles represent the state of dilemma between bulls and bears. You may also choose to look at only 3 child candles and ignore the 4th one. As the market is largely driven by crowd psychology, master candle truly symbolizes this crowd behavior and their struggle to move prices up and down. The accuracy of master candle breakout generally ranges between 30-50% Not Financial Advice.
Long
by Nutty_Trader
ALGORAND - Buy Setup Forming!As per one of my ideas, we were waiting for ALGO to approach the green support to look for buy setups. (attached below) Then we looked for a buy setup on H1 (also attached below) NOW WHAT? ALGO is still sitting around the green support and getting stuck in a range in the shape of a big ascending triangle as you can see in red. Before we buy, we want the buyers to prove that they are taking over again. on H4: we will be waiting for ALGO to break (candle close) the ascending triangle upward (projection in purple) preferably after forming a new swing high around it. Meanwhile, until the buy is activated, ALGO can still test the green support before upward. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BINANCE:ALGOUSD
by TheSignalyst
19
ALGO - Big Resistance Ahead, Looking For a BreakoutAs illustrated ALGO needs to break out of the strong resistance formed on top of the triangle, whose formation indicates sellers loosing steam for the moment. This resistance is both a local resistance in the triangle formation and the bottom of the trendline established last month and possible retracement point (the red line). So long as the price remains above its current ascending support I would say that ALGO is in range for a breakout. Let's see what happens!
COINBASE:ALGOUSD
by benjo93
Algorand (ALGOUSDT) - Coin of the WeekSilvio Micali is the founder of Algorand and a professor of computer science at the Massachusetts Institute of Technology. For his important contributions to the theory and practice of secure two-party computation, electronic payments, cryptocurrencies, and blockchain protocols, he received the Turing Award in 2012. As a result, he is considered one of the world's leading cryptographic innovators. In response to the long transaction speeds of Bitcoin and other blockchains, Algorand was created to speed up transactions and enhance efficiency. Because Algorand is built on a permissionless pure proof-of-stake blockchain system, it has very cheap transaction fees and no mining (unlike Bitcoin's energy-intensive operation). From a technical perspective, Algorand was in an uptrend until it hit 1.84 USDT in February of 2021. From that top it’s in a weekly consolidation that will prepare the next up wave. If we look on the smaller timeframes, on the 4h, we see a low created at 0.67 USDT and afterwards an ascending channel marked with blue on the chart. We expect that the price action will continue to make new “low and highs” in this channel until it will break out in one direction. The higher probability now is a down move and then up again, in the channel. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
by financialflagship
15
ALGO - Wait for the BreakoutMany are expecting another crypto flash crash soon and there has been a lot of selling pressure. However, I believe a strong support has been established as buyers continue to accumulate at the $0.80-$0.85 range. Both the range and standard deviation have narrowed which typically precedes a breakout. This tug-of-war between buyers and sellers has created a triangle pattern in which the final breakout will cause a large swing in the market. If we see a breakout above the local descending resistance, we will likely see a retest of around $0.94 If so, I will look for buy setups on the retest. Let's see what happens!
COINBASE:ALGOUSD
by benjo93
ALGO - The One Dollar HillAn inverse Head & Shoulders nearing completion, signaling a likely reversal into a bull run. Wait for a candle to close above the neckline to confirm. $1.00 is a significant psychological position for ALGO and I believe it is important to stay above the One Dollar Hill to see some big gains soon. If the support fails then I imagine ALGO will drop back down to around $0.75 for a retest. Buy: $1.10 Target: $1.35- $1.38 Stop Loss: $1.00 Reward/Risk Ratio: 2.5 Let me know what you think!
COINBASE:ALGOUSD
by benjo93
1