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ALGO Perpetual Futures Contract

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ALGOUSD.P trade ideas

Putting my crayons to good use with ALGOHave been monitoring ALGO for some time now. Have put my crayons to good use because it seems it is moving in a channel upward. It has left the channel only during the time the whole market dropped to quickly return to the predicted channel. Can’t say anything about all the fancy Fibonacci stuff. Still learning so bear with me. Have been able to successfully swing trade this until yesterday. It dropped more than I expected, but it is still in the channel. During this altcoin season ALGO has been very attractive for swing trading. Lots of Opportunities for 10% profit at least with a 2-1 rewards ratio. Any feedback is welcome. Cheers
COINBASE:ALGOUSDLong
by buenamierda
1
One my favourite coins to swing trade! ALGOAs the title says it all. The fluctuation in the price can be frustrating, but we must capitalize on this presented opportunity. Long term I am Bullish but boy this is a sweet coin to swing trade. MACD 4HR Chart looks like ALGO could do with a break perhaps, so I have opened a small short position to benefit from this temporary vacation. Shorting is dangerous but works in short term movements hence "short". Though I don't currently own any 'short shorts' from Elon if you get me ;) A lot of profit-taking at 1.40$ so it's gonna be hard to break resistance. However, once we do break resistance the pump will be fast and 2$ will seem inevitable. I will aim to TP around 1.35-1.3$ considering this plays out. Re-entry for a long around the same mark or lower. Good luck Bulls and Bears (pretty much no bears here but have to be gender inclusive these days) (disclaimer not financial advice just opinion) KRAKEN:ALGOUSD
COINBASE:ALGOUSD
by jackohgorman
3
Possible 10-30% Gains on ALGOOverview - Overall has been making a nice rising structure which has the potential to take off towards the current last high. I spend the hours getting free trade set-ups for USD pairs so you don't have too. Don't miss out and Follow! Let's start from the top! Price Chart - 4hr chart with 20/50/200MA's to help indicate future supports and resistances - Currently, ALGO is respecting the 50MA so this yellow line can be used as a support - Is possible ALGO is in the last stage of the inverse H&S where it does a small accumulation, and once complete, it could be breaking the green trendline indicating the neckline to send it to higher prices - If you wanted to be really low-risk you could wait until the price touches the red trendline or if price retouches the 50MA to reduce your risk RSI - RSI value looks great as the value is not overbought or oversold so has plenty of room to grow - Could be forming a symmetrical triangle and once the green resistance line is clearly broken, could indicate that it's breakout time Stoch - Stoch value is high but last ATH this value maintained high values so this could be the case here BTC NOW - Text explains chart Extra Info - Learn about ALGO here: algorand.foundation - ALGO VOLUME: coinmarketcap.com If you enjoyed this analysis or learned something new, please LIKE this idea 👍 FOLLOW for free trade set-ups and helpful trading strategies 🏆 Would also like to know your thoughts! Remember this is not financial advice , however, it is an overview of what I am seeing in this coin's price action. -Happy Trading MoneyGrind
COINBASE:ALGOUSDLong
by MoneyGrind
2
Will Algo Price Jump Above The $2 BarrierThe weekly technical chart for Algorand showcases a bullish momentum.ALGO price is showing signs of consolidated momentum on coming to the daily chart.Its price is trading above 50 and 100 Moving Average.The 50MA price is at $1.18, making it temporary support for the coin. The coin's resistance on the upside will be at $2.03, and on the downside, it will see a bounce back from $1.02.Algo price is currently inside the accumulation zone on the daily chart.If the price breaks 10% above the parallel channel then a strong bullish momentum upto the point of $2 can be seen. Kindly comment your thoughts here
KRAKEN:ALGOUSDLong
by tcr_thecoinrepublic
4
ALGO alt Crypto BOOM?ALGO has seen exponential growth since last year. I have plotted a few key indicators that allow you to understand the potential growth on this cryptocurrency. We have seen clear retracement on Fibonacci levels which could be used as BUY points. The key support and resistance levels could be plotted by drawing a Pitchfork , that clearly identifies these levels. Support and Resistance on the Pitchfork could be used as BUY and SELL points for swing traders, while HODLers could find more buying opportunities at any current price due to their hopes of exponential increase. The yellow bold line is used as a 'Schiff' line that is plotted using the pitchfork , breaking through this line could mean a break in the trend, we clearly see it bounce off this line. Trade this alt coin in hopes of exponential growth, but beware, like other alt coins, it is not so STABLE. This is published only for educational purposes LIKE for more! Thierry Leave a comment that is helpful or encouraging. Let's master the markets together
COINBASE:ALGOUSDLong
by TraderThierry
ALGO looking great.Here are some key resistance and support lines. I'll be looking to see if ALGO will hold the blue increased support levels and if it does not, I'll be looking for buy setups around $1.10 or below. Note the MACD prior to the last massive swing up in February. We seem to be going through a similar pattern through March coming into April hanging around in the .025 to .05 range. I'm excited for more ALGO action as we get further into this crypto market bull run. + this is my first published chart so I'll hopefully improve
KRAKEN:ALGOUSDLong
by mascher7675
2
ALGO channel top once againAlgorand looks to be testing the top of an ascending channel (red dashed lines) once again similarly to how it did at the end of March. A break here could be a great sign for ALGO as it could signal a new ATH , but there is also bearish divergence forming both on the 4-hour chart (blue lines) as well as on the daily chart . If resistance holds here, it could send the price sub-$1.20 if the bottom of the channel gets tested next. Additionally if channel support fails, it could send the price sub $1. Ultimately any price changes in BTC could easily influence the direction over the next day, so there is much uncertainty here, but also much potential for the trend to change in either direction. ALGO looks to be interesting to keep an eye on either way over the next few hours/days.
BITTREX:ALGOUSD
by crypto_trends
2