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Algorand

2022-05-16 ALGOUSDT Long IdeaMy thoughts on KUCOIN:ALGOUSDT : **Daily:** Price has moved down to a key demand level aligned with the green box at 35c. From here we have seen a good reaction with a reasonable amount of volume entering the market - however, we are still clearly in a downtrend, and every failed attempt at a recovery creates more low timeframe supply zones (red boxes) that will have to be overcome to regain bullish momentum. **4H:** Price has recovered past the 10/20EMA cradle and is shaping up for a recovery push. Key levels to watch will be the 50 Fibonacci level from the recent bearish move (as aligned to the 4H 100EMA in yellow) and the 61.8Fib level (as aligned to the low timeframe supply block in red). **1H**: Showing an interesting area for a short term long play. I've marked areas for consideration for accumulation, and where a stop loss should be placed. Targets have been set based on the higher timeframe confluences. *Ideas only, not financial advice*
Long
by DoryFish
2
ALGOGUSD (Long Term Buy?) Scaling InScaling in to obtain best asset prices: We are looking to acquire assets to hold long term as the markets are selling off and the SPX and ES breaking through the 4,000 level while the DXY may test new highs. We do this by scaling in slowly to obtain an attractive weighted average price in selected cryptos. For this to work, you need to be VERY TIGHT in your entries and sizes, and not chase the markets. One of the assets we are looking to acquire is Algorand (ALGOUSD) which from their website, is "the world's most decentralized, scalable, and secure blockchain infrastructure, that is capable of powering anything from decentralized finance to generative NFT art, powering future economic models." Reminders: 1) Unless you are selling puts, it is more difficult to protect yourself from the downside in cryptos and create a margin of safety by selling DOTM puts on lower strikes for protection. 2) Cryptos are more risky therefore portfolio allocation and trade sizes are of critical importance. Levels where we are looking to buy. We are looking make small purchases in the 25 to 50 cent area as it's a great price range for a long term hold. If you buy in the 50-69 cent range, it's a good but not as great. Anything above 69 cents, you are starting to chase as our min sell target is $1.85 No matter what the SPX ES and DXY do, we are looking to purchase ALGOUSD at levels that have attractive risk to reward ratios, where slow scaling in with a long term hold make sense. At the low end, if we risk $0.25 to make $1.60 (eg 1.85 - 0.25 = 1.60) or over a 5x return. At the mid level, we risk $0.50 to make $1.50 a 3x return. * If you are not willing to scale in small amount of money for a very long time minimum 3-7 years here don't do this trade. Hope it helps Marc
COINBASE:ALGOUSDLong
by PowerIndicators
4
Algorand (ALGO) - May 10hello? Traders, welcome. If you "follow", you can always get new information quickly. Please also click "Like". Have a nice day. ------------------------------------- (ALGOUSDT 1W Chart) Above 0.6132: It is expected to continue the upward trend from a mid- to long-term point of view. If it falls below 0.5021, there is a possibility of entering the mid- to long-term investment zone, so careful trading is required. Therefore, it is an important observation point to reserve the power to create a new wave by going sideways in the 0.6132-0.9353 section. ------------------------------------------------------------ ----------------------------------------------------- ** All indicators are lagging indicators. Therefore, it is important to be aware that the indicator will move accordingly as price and volume move. However, for convenience, we are talking in reverse for the interpretation of the indicator. ** The MRHAB-T indicator used in the chart is an indicator of our channel that has not been released yet. ** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.) ** Support or resistance is based on the closing price of the 1D chart. ** All descriptions are for reference only and do not guarantee a profit or loss in investment. (Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.) ---------------------------------
by readCrypto
ALGOUSD on a strong bullish streak but not a Buy Opportunity yetAlgorand (ALGOUSD) has completed a strong 3 day bullish streak coming close to the 1D MA50 (blue trend-line) again for the first time since the first week of April. Despite this green short-ter display, it is not a buy opportunity yet, as on the medium-term it remains within a Channel Down (dashed lines) and on the long-term it has broken below the Channel Up. A buy signal will be given, when the price breaks above not just the 1D MA50 but also the Lower Highs trend-line (top) of the Channel Down. This Channel can be seen better on the linear scale: On the long-term, which will be the safest trade, ALGO will turn into a confirmed buy once the price breaks not just above the 1D MA200 (orange trend-line) but also the 1W MACD makes a Bullish Cross. As you see, the last two MACD Bullish Crosses, have resulted in strong rallies within a 2-year time-frames. Until those medium and long-term conditions are met, Algorand can be moving lower and lower in accordance to the lower Fibonacci extensions shown on the chart. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
BINANCE:ALGOUSD
by TradingShot
4
$ALGO - trendline breakout + retest?after the announcement of its partnership with FIFA earlier today, ALGO got a huge pump of about 20% but will we be able to stay at these levels? ALGO broke the downtrend trendline and is currently retesting the one, we just need to see whether we get a succesful or an unsuccesful retest of it I will place a good long position targeting the $0.77 resistance if the price fixes well above the trendline, what do you think about it? drop a like and follow me here and on twitter if you enjoyed this idea!
by opop777
ALGOUSDT 4H TA: In the ChannelAlgousdt In the 4-hour timeframe, it is in a downward channel, which is thrown up by reaching the floor of the channel with strong support. It currently has a price range of $ 0.8 for canal roof resistance and static resistance, which can grow again if it can pass through this area with strength. Otherwise it is possible to correct by reacting on the resistance up to the midline and the bottom of the channel. Its not Buy or Sell SIGNAL DYOR BY : Mohamad Teriz - @AtonicShark
by AtonicShark
1