ALGOUSD.P trade ideas
ALGORAND STOCK UP ZONEALGORAND on a pretty good area for a stock up for the medium - long term.
Red Horizontal ray = Monthly support/resistance.
Blue horizontal ray = weekly suuport/resistance.
Blue square = strong support/resistance zones.
possible breakout from falling wedgeThis is only my analysis. Not financial advice. We have strong RSI above 50. Possible MACD crossover and if the next bar breaks out of the descending triangle we can expect a retesting of $2.
Back in ALGOGot back in ALGO this AM. Same as XTZ.
Unless BTC dumps, ALGO is still in the up trend. I like all Mls and price respecting support and resistance noted on the chart.
Yolo
Algorand ($ALGO) New FIBAlgorand $ALGO New FIB: $ALGO is beginning its come back touching $1.82 resistance
ALGO UPReady for 300-400 % increase before the year ends. Long time support, Nice Flag, Good Volume, MA 200 looks great. We are not done yet.
ALGO/USD - possible repeatYellow line - 200MA
White line - 50MA
Basically similar fractals, and mirror line resistance/support. Add to this 1.618 Fib from global downtrend to find possible next target.
Surprise - same picture.
For now it only depends on BTC.
Algo in a congesting rangeAfter the high above 2.5 from 13 September, AlgoUsd has started to correct lower and now is trading in a congesting range resembling a symmetrical triangle.
Levels to watch are 1.9 zone, with a break here exposing 2.5 high and 1.68 for a bearish move with a target at 1.25 support
Bullish Cypher Pattern (ALGOUSD)I am practicing identifying cypher patterns and noticed the beginning of a bullish pattern on the daily chart. It will be exciting to see if it plays out.
Additional validation will occur at "C" between 1.272 and below 1.414 and buy in level at "D" completion point above .786.
Bullish Stance on ALGO (Algorand)Despite all the China FUD, ALGO or Algorand has held up pretty strong.
Bullish Indicators in favor of ALGO:
Volume Contraction Pattern
MACD Positive (despite the recent crypto sell off)
50 DAY EMA as support
Relative Strength vs the entire crypto market
Stochs at Oversold levels
Strategy:
Buy below $2.00
Cut price $1.40
There might be more upcoming consolidation but ALGO looks really good for the long side
This is my favorite cryptocurrency as of the moment as the market looks to bounce from its recent slump.
Good luck!
Algorand ($ALGO) New FIBAlgorand ($ALGO) in a recent downtrend ended with a HAMMER DOJI today which could signify a bullish reversal candlestick pattern.
ALGO primed for next move-symmetrical triangle forming over the past few weeks, indicates continuation of uptrend
-golden cross
-RSIs in buy territory
-about to print hammer candle after testing lower trendline support
-targeting 45%, size of triangle
Accumulation ZoneWhile we stay below $1.76 I will continue to accumulate. This is an opportunity clear as day, once we break that resistance level towards next fib level we will see a run up to complete the bull market. I believe that this macro cycle for crypto is not over and we will see an explosive next three months to the up side before the start of a long term crypto bear market.
ALGO to $1.59 before breaking out?Give then tokennomics of ALGO and how BTC is doing current, we can expect the sell pressures to remain on ALGO
We will continue down the channel to about $1.59 ... in 24 hrs we should know if we are breaking up or down ... but the trade should hold until ~1.59
In case king BTC bounces back, I have 2 TP,
TP1: 50% - $1.64
TP2: 50% - $1.59
Being Sunday, I will keep a close eye on the overall #crypto market as I might sell TP2 a little before or after.
Here we go againMACD - the lower time frames are about to print red histograms
volume - showing selling pressure
Rsi - still indecisive but showing signs of weakness
kdj - ready to make a big gulp towards the down side
bb - top has been hit and no sign of breakout
Godspeed
ALGO/USD will gain 50% in the next 2 weeksLooking at this chart - you can clearly see that ALGO is poised to go parabolic to the 3.20 range before fizzling. This of course if the triple top can be broken on the next push up the channel.
Algorand Cup and Handle!can go much higher up than what I initially expected. Looks to have completed a cup and handle pattern and can do up to 20x from here!
ALGO Algorand upwards momentum with an Inverse H&SWatch news for governments using this blockchain and technology for their own CBDC. Major governments are testing on Algorand now. Wait for a major announcement and this goes up x10 in a matter of days.
This is not trading advice. Good luck, God speed and watch out for flying telephone poles.
Algorand (breakout!)Algorand has been charting a large bull flag pattern, which recently had a pull back and is not breakout upward.
Price Target: $1.50.
related Algorand published idea linked below:
ALGO Parabolic Rise ComingLayer 1s have shown big relative strength recently as I believe it's that time of the crypto cycle that these large caps go parabolic (SOL gave us that signal).
ATM, ALGO looks to have the best chart looking at the recent volume patterns and consolidation above the recent highs. I believe the past two days is a simple shakeout before this goes on a huge run over the next few weeks 🚀
