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Algo

ALGORAND bucking the trend, how long?The crypto asset ALGO or Algorand has been bucking this short term downward trend we are seeing in top cryptos (BTC, ETH et al.) ALGO is #18 coin by market cap which is $10B How long can this continue? Not long I think. Historically "alt coins" or basically anything other than Ethereum or BTC, run up faster when the market is on a bull trend, and they get hit harder on a downtrend. There are many examples but maybe non better than ADA/USD in Jan. 2018 reaching as high as $1.20 and then crashing to $.35 in Feb 2018 followed by $.18 in March 2018. Eventually ADA tried to push up in following months but ended up in a $.02-@.04 for a lengthy period and then traded in a $.04-$0.13 channel until fall 2020 when BTC/crypto bull run started. You can see that I have pointed out long wicks on top of the strong hours of this ALGO rally. Also I have pointed out that the MACD is above the signal line (bullish) and both the MACD line and signal line are above 0 (bullish). To me these "bullish" signals do not mean that ALGO will continue to buck the trend. It means that it's possibly a good time to short the asset. Will continue to watch close and update here if I see any changes. *it also means that ALGO has more room to fall and more profit to be made from short selling vs other assets. Please be cautious and DYOR, this isn't financial advice, just my analysis.
Short
by CryptoSlayerFX
update ALGO BTC pairdidn't go the way I wanted. My stop hit and didn't get a chance to re-enter due to the strong bull momentum. But it will undoubtedly come. I am now going to turn my attention to the BTC pair. The BTC pair looks very bullish on the weekly and daily. That's why I like to be in a long position. If I get the chance to get in 0.00003, then I will go long. otherwise I'll wait and see how the price develops at the first red box. A test of the blue line must happen before the bulls will push further. Better safe than sorry.
Long
by BullzeyeG
Algo going back to 1$ ?BINANCE:ALGOUSDT ✅Before we start to discuss, I would be glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it. Thank you. Possible Targets ➡️Test fundamental price 1$ and global support trend line ➡️ Retest on D1 downtrend fib line ➡️ Retest 0.23 level FIB to make a continuation move UP ➡️ After retest target by end of Bull Run 5.52$ ➡️Pattern since 2019 cup and handle already played. Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! ✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes. Don't forget sub and join my channels under this idea!
by Crypto4light
Algorand (Algo) - Gearing Up for Something Big.Hi everyone, Algorand is a promising project with a great team. The chart also looks fantastic, being in a very pronounced uptrend since around April 2020. This uptrend has involved previous resistance being turned into support, something which I believe is happening now. Due to the promising nature of the project and it's having a very modest market cap of $8 billion (lol), I believe that Algorand will go much higher. How much higher is difficult to say, but assuming a total crypto market cap of between 6-12 trillion $ by the end of this bull market, and assuming that Algorand continues to gain market share relative to its peers in the top 20 (from projects like litecoin, cro, and xrp for example), a market cap above 40 billion seems exceedingly likely, and thus an Algo above $5. Watch this space. Take care everyone and happy holidays! Jason
COINBASE:ALGOUSDLong
by JasonMP91
Consolidarion after the sharp declince...!Major cryptocurrencies experienced a 27-40% decline in the past 3 weeks and now they made a consolidation pattern! Interestingly, they made 2 positive days followed by 2 negative days of small cycles, and they barely move in one direction for 3 days in a row in the past 12 days! This shows weakness and in the decision in the market! Conclusion: Neutral until we see a breakout! You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts! Best, Moshkelgosha DISCLAIMER I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA , an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
BITMEX:XBT
by Moshkelgosha
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