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ALGOBTC

ALGOUSDT (ALGORAND) - UPTREND CONTINUATION ANALYSIS 🔎 - ALGOUSDT brokeout above the inverse head and shoulders neckline resistance as expected from my previous analysis. - Price hit a swing high (1.84 USDT) and retraced. - Price is retesting the neckline resistance (flip horizontal support) and key fibonacci retracement levels (0.5 - 0.618 - 0.786). - There's a relatively high concentration of buyers at this retest zone (High buying pressure). - The retracement is resisted by the descending trendline resistance. - Breakout above the descending trendline resistance could be an uptrend continuation signal. BUY ENTRY ⬆️ - Conservative entry : breakout above the descending trendline resistance. - Aggressive entry (risky) : market price (now). TARGETS 🎯 - Horizontal resistance level (R1). - Horizontal resistance level (R2). - Fibonacci extension levels. SETUP INVALIDATION ❌ - Breakdown below the 0.786 fibonacci retracement level.
Long
by Chibuike_Odoh
ALGOUSDT (ALGORAND) - UPTREND CONTINUATION ANALYSIS 🔎 - ALGOUSDT is consolidating in a pennant chart pattern. - A pennant chart pattern is a trend continuation pattern, a bullish one in this case. - There's a breakout potential. BUY ENTRY ⬆️ - Aggressive entry (risky) : market price (now). - Conservative entry : breakout above the pennant pattern's inclined resistance. TARGETS 🎯 - Horizontal resistance level (R1). - Horizontal resistance level (R2). - Horizontal resistance level (R3). - Projected ascending channel resistance. - Fibonacci extension levels. SETUP INVALIDATION ❌ - Breakdown below the pennant pattern's inclined support.
Long
by Chibuike_Odoh
Algorand has been amazing... But there is more to come !We are monitoring ALGO since the beginning of it's bullish trend at 0.40 cents ... (first analysis of Algo below) On today’s analysis, we saw that Last week we successfully reached our target 2 (written on the chart) and we closed above the weekly resistance (Blue line on the chart) that has been built since September 2019. Now we are actually flipping this resistance in to support ... A weekly closure above would be very bullish for the next few weeks. As there is very little volume on this retest, i am very confident about what will come ! Time will speak! Patience is a key in this market The content covered in this publication is NOT to be considered as investment advice. Thank you all, If you enjoyed this analysis please mark a thumbs up and do not hesitate to share your point of view in the comment section. Have a Good day and Safe trade Butterfly .D /Metamorphose your portfolio/
Long
by Taidotrading
2
ALGO - Bouncing off SupportWe are creeping towards medium term support on ALGO's ascending channel, as well as a significant fib level acting as support right where we expect a bounce around 2,130 sats. I'm setting a stop loss below the local dips the past few days, incase there is a flash crash. Looks good on the 4H, I can see a bullish crossover forming and flipping from bearish to bullish movement. Entry: 2,100 - 2,200 sats Stop Loss: 2,030 sats Targets: 2,400 - 2,600 - 3,000 sats
Long
by mablack15
3
ALGORAND / USDT Gaining momentumRemember when i told you that ALGO just came out of accumulation phase on the weekly time frame? Today we successfully passed our first target! ALGORAND is gaining momentum and strong volume are supporting this bullish trend. I believe it's a question of days before we smash our Target 2! Patience is a key in this market ! The content covered in this publication is NOT to be considered as investment advice. Thank you all, If you enjoyed this analysis please mark a thumbs up and do not hesitate to share your point of view in the comment section. Have a Good day and Safe trade Butterfly .D /Metamorphose your portfolio/
Long
by Taidotrading
1