Target 0.165Following weekly chart and got a long signal ( actually yesterday) from my screener.
TP1 0.154
TP2 0.165
SL Not a super ratio but close under 0.123 weekly close.
ALGOUSDT trade ideas
ALGO Long Spot Position (Descending Resistance Breakout)Market Context: ALGO has recently broken through the descending resistance line from May and is now at support, presenting a long trade opportunity.
Trade Setup:
Entry: Ladder into a long position in the $0.13 - $0.1380 support area.
Take Profit:
First target: $0.16 - $0.17
Second target: $0.20 - $0.2170
Stop Loss: Just below $0.123
⚡ This setup aims to capitalize on the breakout and current support level.
#ALGO #Crypto
#ALGO/USDT#ALGO
The price is moving in a descending channel on the 1-hour frame and is sticking to it to a large extent and is expected to break it upwards
We have a bounce that was booked from the lower limit of the channel at a price of 0.1200
We have a downtrend on the RSI indicator which supports the rise
We have a trend to stabilize above the moving average 100
Entry price 0.1210
First target 0.1250
Second target 0.1300
Third target 0.1344
ALGOUSDT Another Bearish patternI remember that i bought some of this coin for more than 0.30 cents hopping for a move to $1 bucks in long term, however it was a dream of a naive sucker to hold this shitcoin as lon as it came to nearly 0.10 cents per coin, if i would've bought sheep's dung i would've been profitted much much higher than this abomination
i don't feel sorry for myself duo to i was naive and it was almost 2 years ago and it was only around 100 bucks, but i feel sorry for those who bought a ton hopping for a rise to 1 bucks so, yeah sorry i was an inexperience crying baby to buy n hold that
Alikze »» ALGO | Ascending corner pattern🔍 Technical analysis: Ascending corner pattern
- It is moving in a downward channel in the daily time frame.
- It was mentioned in the analysis presented in the previous post, after the failure of the supply zone, it will have the ability to continue the trend until the next supply zone. But it faced selling pressure in the first supply area, which led to a correction of 0.23 from the previous wave.
-Currently, it is in a corner pattern, which after the break of the channel, a pullback to the roof of the descending channel has been done.
- Also, with the support of dynamic trigger, it can lead to escape from density.
- Therefore, by leaving the density, it will have the ability to reach the specified goals and also the supply area.
💎 Alternative scenario: In addition, if it faces selling pressure in the area of the high dynamic trigger and does not have a correction in the form of a soft landing, it can continue to correct up to the range of 0.097 with the failure of the low dynamic trigger.
💎 Note: If Fibo 0.23 is not maintained and below the stabilization zone, the bullish scenario will be invalidated and should be reviewed and updated.
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BINANCE:ALGOUSDT
ALGO May Rise After Two Weeks of AccumulationALGO May Rise After Two Weeks of Accumulation
Since August 27, 2024, ALGO has been moving down within a descending pattern.
The recent breakout above this pattern suggests a potential bullish movement, which could drive ALGO back to its previous highs, as illustrated in the chart.
A minor correction is anticipated before the price resumes its upward trajectory.
This correction may occur ahead of the US CPI data release, given the current market speculation.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
ALGO/USDT Secondary trend. Wedge is a trend. 11 2023Logarithm. Time frame 3 days. Linear price graph for clarity of this beauty.
The entire secondary trend is a falling wedge , a decline in price from the highs to date for 718 days (24 months, or almost 2 years). Volatility has decreased to a minimum, the price is conditionally squeezed, in the near future there may be an excess of supply/demand and a breakthrough of this long-term formation will occur. A pump impulse for a breakthrough due to super “dead faith” and rather low liquidity (price slippage) can be significant.
Decline from the low (liquidity) -96.66%.
We are in the zone of so-called capitulation (on the cryptocurrency itself).
Also, the chart shows conditionally maximum average (from the average price) potential targets of market phases:
1) “participation” (development of the bullish trend to the reset zone, i.e. distribution).
2) Distribution.
Unfair market competition by large market participants.
Prices now, it is about 0.1$, which is the price of “large capital” that “invested” in this crypto project. But, they sold out long ago on the first listings..... After all, the crowd was “sold” at the ICO at an average of about 2.5$ per coin, or even more expensive by the method of divorce with the Dutch auction. That is roughly speaking it is +25X (+2500%).
Dutch auction (in the classical sense) is a type of bidding, at the beginning of which the highest price for the lot is announced, which gradually decreases; the participant who was the first to stop the price decrease becomes the winner.
Bullish cycle 2020-2021.
Then after a dump to the 2020-2021 set zone (0.25$ average) in the bull cycle managed to pump and form a distribution (reset) zone of more than +1000%. From that reset zone and formed this truly huge downward wedge, just like on EOS.
So, this cryptocurrency "changed speculative hands" many times (huge dump/dump volatility). Anyone could make money, but not the “hamster” level. Perhaps there will be one last run of significant price pumping towards the end of 2024 -2025.
Candlestick chart of the wedge zone for comparison.
Local trend.
ALGO/USDT Local trend. Wedge breakout zone . 5 11 2023
The main trend. The entire trading history. Accumulation/distribution zones. Time frame 1 week.
ALGO/USDT Major trend. Cycles. 07 2023
ALGOUSDT 1D DOUBLE BOTTOMALGOUSDT 1D DOUBLE BOTTOM
ALGO has just built a DOUBLE BOTTOM. This is a good buy signal as long as it respects the SL.
It is clear where the ALTS are at. In a couple of months we will look back and think about the opportunities we had to buy really cheap.
SL 0.09
TP 0.23
TP1 0.33
TP2 0.45
ALGOUSDT SHORTALGOUSDT
SHORT
PLEASE DON’T BE GREEDY
ENTRY POINT : yellow point
TP : blue lines
SL :
below red line for LONG POSITION
above red Line for SHORT POSITION
INSTRUCTIONS:
FOR risk and money management:
5% of your wallet for LEV X ≤20
And
3% of your wallet for LEV X ≥ 20
like, boost, be followers and above all, comment on the assets on which you would like to have ideas
PLEASE DON’T BE GREEDY
Strong demand zoneALGO is in an uptrend and is currently approaching a strong demand zone. This area can act as significant support, potentially driving the price upwards. The price is moving slowly within this demand zone, which may indicate the market’s attempt to attract new buyers.
One possible scenario is that the price finds support in the demand zone and, after observing sufficient confirmations, moves upwards. This movement could indicate the continuation of the uptrend and the potential for further price growth.
Another scenario is that the price stabilizes after reaching the demand zone, and after observing strong confirmations, it moves upwards. This scenario suggests that demand is being absorbed in this area, leading to a new upward move.
Weekly Watchlist Analysis : ALGOWeekly Watchlist Analysis 📊
#Algo
#4h
In the first trigger of my strategy, the price has dropped by nearly 13% 📉. The previous uptrend exhibited clear signs of weakness:
Reduced Momentum: After each breakout, the price moved less each time ⬇️.
Increased Red Candles: More red candles appeared toward the end of the trend, indicating selling pressure 🟥.
Declining Buying Volume: The final wave saw reduced buying volume while selling volume spiked significantly 📈.
As the cycle high formed, the market entered a range after the drop, reinforcing the potential for an earlier short position 📉.
Entry Points:
First Entry:
After the Head and Shoulders pattern broke on the 1-hour timeframe, we got our first entry at the top of the move 🎯.
Second Entry:
As the price reached the next major support, we went for a correction. The green candles that followed lacked volume and size 📉. After the support was broken and a pullback occurred, the second entry was executed (another entry was made during the support break as well).
Third Entry:
Upon reaching the next key support level at 0.1258, a sell-off candle appeared, signaling the end of the trend or at least the start of a correction on the 4-hour timeframe 🕒. After ranging and forming a box, a false break to the downside occurred, which lacked the strength to break the previous high or even the box's high, indicating buyer weakness 📉. This was a signal to enter on the next break.
Currently, the ongoing downtrend lacks the strength seen in the previous trend. If selling volume doesn’t increase within the next 48 hours, there’s a possibility of a deep correction to the upside in higher timeframes 🔄.
Categories: Trend Analysis, Support and Resistance, Volume Analysis
Hashtags: #Algo #CryptoAnalysis #TradingStrategy #Tradecitypro #TCP 🚀
#ALGO/USDT#ALGO
The price is moving in a descending channel on the 12-hour frame and is sticking to it very well and is expected to break it upwards
We have a bounce from a major support area in green at 0.1140
We have a downtrend on the RSI indicator that was broken upwards which supports the rise
We have a trend to stabilize above the 100 moving average which supports the rise
Entry price 0.1300
First target 0.1413
Second target 0.1541
Third target 0.1673
ALGO (Algorand): Falling Wedge BreakoutTrade setup : Price is in a Downtrend, however, it had a bullish breakout from Falling Wedge pattern, which could signal at least a temporary bullish trend reversal with +22% upside potential to $.17 resistance. Stop Loss at $0.12. This is a riskier trade setup because it’s a trend reversal not a trend continuation setup. It’s against the overall downtrend. Learn to trade breakouts in Lesson 7 and Risk Management in Lesson 9.
Patterns : Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order. Learn to trade chart patterns in Lesson 8.
Trend : Short-term trend is Up, Medium-term trend is Strong Down and Long-term trend is Strong Down.
Momentum : Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).
Support and Resistance : Nearest Support Zone is $0.11, then $0.087. Nearest Resistance Zone is $0.15, then $0.20.
ALGO Price AnalysisAlgorand (ALGO) Analysis
Algorand (ALGO) has shown signs of recovery after a significant decline that saw its price drop from the $0.3199 level down to a low of $0.0938. Recently, ALGO has been trading within a narrow range, indicating some consolidation as it attempts to regain bullish momentum.
Currently, ALGO is hovering around the $0.1353 mark, just above the critical support zone (Yellow) at $0.1218 - $0.1270. Despite this recovery, ALGO faces strong resistance by the descending trendline seen in the recent price action.
If ALGO fails to break above the descending trendline, it may re-enter a bearish phase, pushing the price back toward the lower support levels that could determine its medium-term direction.
ALGO is currently at a crucial juncture, with the potential for further downside if it fails to break key resistance levels. Traders should watch for a break above the resistance zone (Green) at $0.1595 - $0.1661 for a potential bullish continuation or a rejection that could lead to a retest of the lower support levels.
ALGOUSDT: A Crucial Moment Approaching Are You Prepared?Yello, Paradisers! Are you ready for what could be a pivotal moment for #ALGOUSDT? Let’s dive into the latest analysis and uncover what might be coming our way.
💎We’ve been tracking #ALGOUSDT closely, and the signs suggest a potentially explosive move. If the price breaks above the descending resistance, we could see a bullish surge.
💎However, given the repeated patterns we've observed, there's a possibility that the price of #algorand may retrace back to a strong support level at $0.1226. If momentum holds, we might witness a bullish ride up to the probable resistance.
💎But we’re prepared for all scenarios. If the price loses momentum at the strong support and breaks below, we're eyeing a potential bullish rebound from the lower demand zone at $0.1085
💎This is a critical juncture, Paradisers. Keep a sharp eye on the price movements around this demand area. A daily close below this zone could invalidate the bullish outlook and signal further declines.
Staying disciplined and patient is key here. The market is full of opportunities, but only those who wait for the highest probability setups will come out ahead.
MyCryptoParadise
iFeel the success🌴
ALGOUSDTALGOUSDT has given a clean breakout of falling wedge. Will this breakout sustains and will bulls push the price even higher ?
ALGOUSDT 1WALGO ~ 1W
#ALGO This is the lowest support for $ALGO. If you have Conviction on this Coin, this is the time for you to start buying again. at least for a profit of at least 20%+.
But you need to know, you have to place a tight SL when this support block is broken.
Algo relief rally and drop in JanuaryBINANCE:ALGOUSDT
Just a local picture for January
Possible Targets and explanation idea
➡️After hype around World Cup championship we dropped down and found the main support zone.
➡️I think this is the potential bottom for now for $ALGO
➡️Local trade can be looks like this on 12H timeframe
➡️According Crypto4light Direction indicator whales accumulated Algo all December. Now we see clear signal to pump on both indicators
➡️Local stop losses now over 0.23 cents so we have a little bit range to grab this tiny stop losses and go back test 0.17 like support
➡️ In February we will see price over 0.30 and maybe 0.50 for ALGO. More clear higher timeframe global chart ill post in another idea
➡️With path I showed potential direction for January local time period trades
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Algorand (ALGO) Fibonacci Retracement AnalysisThe chart you've shared is a technical analysis of the cryptocurrency Algorand BINANCE:ALGOUSDT (ALGO) against Tether (USDT) on a daily timeframe (1D). Here’s a breakdown of what the chart and the provided details represent:
**1. Overview:**
- **Price Movement:** The chart shows the price movement of ALGO/USDT over time, with a clear downward trend visible from the early part of 2023 to the present.
- **Indicators:**
- **Heikin Ashi:** The candlestick type used is Heikin Ashi, which is a variant of candlestick charts used to better visualize trends.
- **Fibonacci Retracement Levels:** These are horizontal lines indicating areas of support or resistance at key Fibonacci levels before the price continues in the original direction.
**2. Fibonacci Retracement Levels:**
The Fibonacci retracement levels are calculated based on the swing high (Top: 0.3299) and swing low (Bottom: 0.0938) observed in the chart. These levels help in predicting possible future price reversals or extensions.
- **0.786 Fibonacci Level:** This is marked at 0.2794.
- **0.618 Fibonacci Level:** This is marked at 0.2397.
- **0.50 Fibonacci Level:** This is marked at 0.2119.
- **0.382 Fibonacci Level:** This is marked at 0.184.
**3. Target Prices (TP):**
The potential target prices (TPs) are based on these Fibonacci retracement levels:
- **TP 1:** 0.184, corresponding to the 0.382 Fibonacci level.
- **TP 2:** 0.2119, corresponding to the 0.50 Fibonacci level.
- **TP 3:** 0.2397, corresponding to the 0.618 Fibonacci level.
- **TP 4:** 0.2794, corresponding to the 0.786 Fibonacci level.
- **TP 5:** 0.3299, which is the top Fibonacci level and represents the highest price point used in the retracement.
**4. Technical Indicators:**
At the top right of the chart, there are several technical indicators:
- **Open Price:** 0.1128601055 USDT.
- **Close Price:** 0.113575 USDT.
- **Change Percent:** The price has increased by 1.3836% from open to close.
- **RSI (Relative Strength Index):** 29.1377, indicating the current momentum of the price.
- **ATR (Average True Range):** 0.0116, showing the volatility of the price.
- **Volume:** 3,004,730 USDT.
**5. Moving Averages:**
The chart also shows the values of various moving averages (SMA and EMA), though specific lines may not be visible on the chart itself:
- **SMA50, SMA100, SMA200:** These represent the 50-day, 100-day, and 200-day Simple Moving Averages.
- **EMA50, EMA100, EMA200:** These represent the 50-day, 100-day, and 200-day Exponential Moving Averages.
**Summary:**
The chart suggests that after a significant decline, the price of ALGO is currently at a support level (0.1178 USDT). If it begins to rise, the Fibonacci retracement levels provide potential target prices, with the first target at 0.184 USDT (TP 1) and the highest target at 0.3299 USDT (TP 5). The indicators suggest a slightly bullish sentiment with a recent small gain in price, but the overall momentum (RSI) remains relatively low.
ALGOUSDT.1DExamining the ALGO/USDT chart, there are several crucial points to consider from a technical perspective:
Technical Analysis
Resistance and Support Levels (R1, R2, S1):
The ALGO/USDT trading pair is currently navigating through a challenging phase, having experienced significant pullbacks from its recent highs near the R2 level at $0.2336.
The price is oscillating around the R1 level at $0.1672, which now serves as a key resistance level. A decisive break above this level could signal a shift towards a bullish sentiment.
The chart indicates a critical support level at S1 ($0.0834). This support has been tested multiple times, suggesting it is a significant level for the pair.
MACD Indicator:
The Moving Average Convergence Divergence (MACD) is below the signal line, reflecting ongoing bearish momentum. The widening gap between the MACD line and the signal line underpins this bearish outlook.
The histogram remains in the negative territory, which corroborates the strength of the prevailing bearish trend.
RSI:
The Relative Strength Index (RSI) is hovering just above the oversold territory, indicating that while there is bearish pressure, the market could be nearing a point of reversal if it enters and rebounds from oversold conditions.
Conclusion
The ALGO/USDT chart depicts a market currently under bearish control as evidenced by the resistance levels and MACD readings. The proximity of the price to the critical support at S1 suggests that this area could be pivotal. If the price sustains above S1, there might be potential for consolidation or a mild recovery, especially if the RSI shows signs of a turnaround from oversold conditions. On the other hand, a break below S1 could intensify selling pressures, potentially leading to new lows.
Given this analysis, my approach would involve closely monitoring the S1 level for any signs of a breach which would necessitate reassessing any long positions. Conversely, a rebound from this level could offer a strategic entry point for a short-term bullish trade, particularly if accompanied by positive divergences in MACD and RSI, signaling weakening downward momentum.
ALGOUSDT Elliott Waves AnalysisHello friends.
Please support my work by clicking the LIKE button👍(If you liked). Also i will appreciate for ur activity.
Everything on the chart.
Entry: market and lower
Targets: 0.3 - 0.5 - 0.7 - 1
after first target reached move ur stop to breakeven
Stop: (depending of ur risk).
ALWAYS follow ur RM
RR: 1 to 20
risk is justified
It's not financial advice.
DYOR!
ALGO LONGAlgorand currency has formed an inverted head and shoulder pattern and will grow by 300% from this range BINANCE:ALGOUSDT BINANCE:ALGOUSDT COINBASE:ALGOUSD
ALGO Analysis: Identifying Key Levels✨ Welcome to my channel. Here, we analyze a new crypto project or Forex pair every day.
📅 Let's dive into today's analysis, focusing on the ALGO coin in the crypto market.
🗂 About the Project: ALGO is a blockchain-based project with its own ecosystem and blockchain. It is one of the popular networks for DeFi enthusiasts, and if you're interested in this space, you're probably familiar with this blockchain.
⌛️ Weekly Timeframe
In this timeframe, ALGO experienced a significant downward movement, currently stabilizing around $0.1572. The price has tested the $0.1547 support level multiple times. The volume has been fluctuating, showing signs of both accumulation and distribution phases.
📈 If the price is supported and candles stabilize above the $0.1547 area, we can confirm that the price trend has potential for a bullish reversal. The main resistance for confirming an upward trend is at $0.2808. For ALGO to have a significant pump, the price must stabilize above this area, allowing you to enter a buying position according to your trading strategy after confirmation.
📉 If the price returns below $0.1547, the next significant support is at $0.0992, indicating a continuation of the bearish trend.
📊 In both scenarios, candle volume must confirm the price movement, and there should be no volume divergence; otherwise, the trend will not be healthy.
⌛️ Daily Timeframe
In this timeframe, you can see more details of the price movement. As indicated, the price ranged for a long period on the $0.1502 support and, after a breakout and pullback, initiated another downward wave to the $0.1297 area. Currently, there is significant bearish momentum in this timeframe, and the volume aligns perfectly with the downward trend.
Given the strong support at $0.1502, we can expect another bearish wave if candles stabilize below this area.
⌛️ 4-Hour Timeframe
In this timeframe, the price has pulled back to the $0.1605 resistance. Volume is gradually decreasing, indicating that the long-term downward trend impacts the 4-hour timeframe. This upward movement offers a potential entry point for a short position.
🔑 Key Levels: For a long position, the key levels are $0.1716, $0.1989. For a short position, $0.1502, and $0.1297 are critical areas where the price may react in the future.
💥 RSI Oscillator: The RSI is ranging between 45.73 and 51.84, and breaking either of these levels can provide confirmation for opening positions. However, be sure to use these levels only for confirmation and rely on candles to find the trigger.
🎲 My Strategy: Given the bearish market in the 4-hour and daily timeframes and the potential trend change in the weekly timeframe, I prefer to open a short position on this coin as I always trade in the direction of the momentum. However, there's no necessity for you to do the same; everyone should trade based on their strategy and plan. This is a personal decision, and each trader must find their strategy.
⚠️ Please note that this is not financial advice. I'm simply introducing this project to you, and remember always to do your own research.
🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
