ALGO/USDT Ready to Upward Movement?? Algorand Today Analysis Ladies and Gentlemen of ParadiseClub, gear up for the forthcoming gems!
💎ALGO has broken its prior pattern and is now retesting the resistance trendline.
💎We're keenly observing its approach to the demand zone. Should ALGO exhibit a bounce or face rejection within this area, we can anticipate a bullish trajectory,
💎 targeting the next supply point at 0.1265 and a formidable resistance at 0.1387.
💎However, be cautious: if ALGO closes below 0.1046 on a daily scale, our bullish outlook would be invalidated. Stay alert and trade safe! 🌴
Algorand
ALGO Yearly RangeBINANCE:ALGOUSDT
Possible Targets and explanation idea
➡️If we take a look on yearly chart we just got a simple range
➡️Top. Bottom at 0.0958. 2 test of equilibrium End of hype
➡️Crashed and formed historical lower low and deviation of range 0.0901
➡️Bullish road to 2 main monthly gaps and euphoria to deviation at the top 3.45$
➡️That time or we will break deviation and going higher or come back in a range again
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Algorand ALGO price is far behind the cryptomarket. When growth?We are often asked to publish an idea for ALGOUSDT, you asked - we did.
We look at the chart and see that the ALGO price is still in a downward trend.
The only good news is that as of right now, ALGOUSD hasn't updated its lows in a month.
Now the ALGOUSDT price has moved into consolidation, so we can hope that the stage of accumulating long positions has begun, and this stage can last for many weeks.
As of now, we would definitely not risk buying ALGO with our own funds, as we do not see the strength of buyers and the "desire" for prices to rise.
The first ray of hope for ALGO holders may be a breakout of the trend line and a price fix above $0.15. In this case, there will be a chance for continued growth to $0.20 and $0.26
In the long term, we would like to see the ALGOUSDT price reach a strong mirror zone of $0.70-0.80, but we do not know when this will happen and what should provoke such a price increase.
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ALGOUSD Ahead of the first major bullish break-out in 4 months.Algorand (ALGOUSD) has hit today the 1D MA50 (blue trend-line) for the first time since April 17. That is also the top of the 4-month Channel Down pattern. If broken, it may turn out into the first such major bullish break-out move this year as not only is the price rebounding off a Double Bottom but the RSI is on a huge Higher Lows line (Bullish Divergence).
As a result, we will go long if the 1D candle closes above the top of the Channel Down and target 0.15000, which is not just near Resistance 1 but more importantly the Lower Highs trend-line since the February 21 High.
On the longer-term if a 1D candle closes above that Lower Highs trend-line as well as Resistance 1, we will buy again targeting 0.18000 (within Resistance 2 and the 0.382 Fibonacci).
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Algorand (ALGO) formed bullish Shark for another price reversalHi dear friends, hope you are well and welcome to the new trade setup of Algorand (ALGO).
Our last successful trade of ALGO was as below:
Now on a 4-hr time frame with Bitcoin pair, ALGO has formed a bullish Shark move, at the moment after the completion of final leg the priceline is slightly moved up, therefore, we can wait for some correction.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
Algorand - A long term opportunity? Algorand - A long term opportunity?
- Oversold RSI on both BTC and USD pair
- Clear bounces off lower channels
- 96%+ correction to date on USD pair and 93%
correction on BTC pair
A long term 18 - 24 month position could be considered here, I'm not recommending it but the chart looks like its getting exhaustive. I'm stacking sats but might try for a small 1% trade bounce here or a re-bounce off channel lows.
Please ensure you review my Total 2 and Total 3 Altcoins outlook charts in prior tweets and posts which project that a secular shift to a bull market will be more probable between Dec 2023 - March 2024. A much improved outcome would be probable around this date forward.
ALGOUSDT 💥 ALL TIME LOW coming through soonIt's been on a strong downtrend even after the BTC mini bullish trend, it didn't reverse a flick. Per Ichimoku analysis this is going to the all time low at about 0.11 - 0.09 So brace yourselves!!
Then we can think of buying if there's any demand at all.
Happy Trading!
Kina 💥
Algorand Whale Analysis Markets have not been to colorful but this is all part of there plan to trigger MAXIMUM FEAR on Retail Investors, we are also longing the time to have retail investors take there money out, making them wait very long to cause stress & panic or due to being in need of that capital. Sec attempting to sue exchanges & block U.S BINANCE users so they can stop buying & avoid retails getting riches...
Now on the technical side we see Algo is heading to the floor of capital, 0.10 has to be retested, it has not been retested, Right Shoulder is projected to be form around 1.40, Broken level unretested 0.80
Oh & years before the SEC labeled it a security, Gaysler sorry I mean Gensler called Algorand “great technology” and “brilliant work.”
Not bad.
ALGOUSDT at weekly support and likley to move up from hereThis one is approaching towards the its lows. There is a monthly and weekly level almost close to the current price. It may breach that for a while but I expect it to hold that level on weekly time frame and bounce from there. If it does bounce, I see it aiming towards daily and then probably weekly resistance.
The price has finally hit the weekly support which is also monthly support level. I believe this is going up from here but as said before, it may dip briefly on intra week basis.
Is a Reversal Brewing for #ALGOUSDT?💎After breaking below the ascending channel, the downtrend in #ALGO has been consistently strong. But today, on the 4H chart, we are witnessing a Hummer Candlestick Pattern, a potential sign of a reversal.
💎 Additionally, there's a clean bounce off the 461.8% Fibonacci support, which could indicate a potential bullish reversal. We need to confirm this on the Daily chart. If the current low holds until the daily close, it could be seen as the first bullish reversal signal.
💎 But let's not jump to conclusions just yet, Paradisers. We must remain cautious and acknowledge that discussing an uptrend at this moment would be premature. To establish a solid bullish outlook for #ALGO, it must break and sustain above the supply zone and the downtrend trendline.
💎 The MCP team is closely monitoring the current support level, and we'll keep you updated on any further price developments. Stay tuned, stay informed, and stay ahead of the game!
Algorand (ALGO) - Scam or Gem?Hello, everyone!
There is an increased interest to atlcoin BINANCE:ALGOUSDT last couple of days because it has broken the bottom again. Some traders think that it's scam and we should forget about this token, others think that it's perfect buy level. I have another one opinion.
As you know I expect $10k on Bitcoin, and first of all we should wait for this price to see which altcoins will be alive. Anyway looking at the Elliott waves formation, I can see that ALGO is forming the ending diagonal inside the wave 5. Bear market for this coin is about to end, but I can demonstrate the decrease up to -50% from current prices. To sum up, current price is not a good entry point, but this asset is not obligatory scam, but this probability is higher than pump from current.
Best regards, Ivan
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ALGO dropped a key supportHi, Friends hope you are well and welcome to the new update on ALGO.
Big wedge and a long-term support:
Algo has formed a big falling wedge on a weekly time frame, however, at the moment ALGO has dropped at a very long-term support of $0.16 and this level is working as a support since Sep 2019.
Oversold on weekly time frame:
Weekly Stochastic is also extremely oversold therefore, if Bitcoin starts small correction move, then ALGO can begin a massive reversal from this support.
Conclusion:
If some one wanna buy ALGO here then be very careful and keep an eye on $0.16 support, if it will be broken down then ALGO can drop at the support of wedge. More chances are in favor of a massive rally from this support soon.
Algorand at an important junctureMoment of truth for Algorand. Will it close above its recently re-gained trend line this week and this month? Above .30 with some sideways action would be ideal. Because if it does, it will have quite the bull run. If not, it may need to re-visit 14c and that would delay the structure. But so far so good!
Cheers!