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Algorand

Opportunity brewing, but bearish break expectedKeeping an eye on ALGO/BTC. It doesn't look pretty, but there may be an opportunity developing in the next week or so. We're currently testing the Support of a large Descending Triangle. Descending Triangles are bearish and so a break down (at some point) is expected. Combined with the recent bearish momentum and overhead resistance, I'm inclined to think the break will happen sooner rather than later. However, there are some bullish signs that keep ALGO on my radar: We're seeing bullish divergence on the Daily chart and we're entering into another buy zone. A small buy here could be a high-risk, high-reward option for the adventurous--if support holds we could see a retest of the top of the Descending Triangle. However, I'm on the sidelines waiting for a more secure entry. Patience is the least sexy of the superpowers. ---------------------------------------------------------------- These are my personal views and not financial advice. Please do your own research before investing. I'd love to hear your thoughts, ideas and feedback. Feel free to Comment and I'll try and get back to you quickly. If you appreciated this analysis, consider Liking or Following . Thanks!
by mercury_rising
4
ALGO - Top-Down Analysis!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. WEEKLY: Left Chart ALGO is overall bearish however, it is approaching a strong support zone in green so we will be looking for buy setups on lower timeframes. DAILY: Right Chart ALGO is forming a double bottom pattern but it is not ready to go yet. Trigger => For the bulls to take over, we need a momentum candle close above the gray neckline. Meanwhile, until the buy is activated, ALGO can still trade lower. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BINANCE:ALGOUSD
by TheSignalyst
15
Algorand (ALGO) count me in!Algorand is a token that I have not covered on this platform too much. It's a shame because ALGO is one of my favorites. In terms of the accessibility, speed, and efficiency- ALGO blockchain is top notch. I mean, heck- if you ever want to send cryptocurrencies anywhere for the cheapest possible price... what do you use? -- ALGO The volume and number of wallets opened/holding ALGO has also steadily increased over the last several months with no real fall off... ♠️🤫🐿
Long
by FutureAmericanExpat
Algorand (ALGO) Possible Breakout Idea.Possible breakout for both downtrend and fib wedge resistance. These are pros and cons of this setup PROS There is a Bullish Divergence in Volume Price Trend indicator. (by:AdonisWerther) The wick of the last low didn't go below last lows wick. Strong support at 0,8861 levels. Price is still trying to break fib trend resistance. CONS Buyers volume is still low. With low volume price could struggle to break 2 resistance at the same time. Bitcoin could go below 45.000 (it can be seen as ALGO rejetcing from resistance). New Higher Low.
Long
by DeadGauss
ALGO - Wait For The Trigger!Hello everyone, if you like the idea, do not forget to support with a like and follow. As per my last video analysis, we were waiting for the bulls to take over from a medium-term perspective by breaking above the inverse head and shoulders neckline. ALGO broke above the neckline and traded higher. Now for the bulls to take over from a long-term perspective, we need a daily candle close above the last high in gray and above 1.0 round number. Meanwhile, until the bulls take over from Daily, the bears can still kick in to form another low. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BINANCE:ALGOUSDLong
by TheSignalyst
16
ALGORAND (ALGO/USDT) : 0,77 Key Tactical Support to watch ALGORAND (ALGO/USDT) : 0,77 Key Tactical Support to watch (3 to 12 Weeks view) Many of you asked me to have a look on Algo, so lets go.. Context The structure of the trading range (2021 - second flat rectangle) is similar at we what we observed on many other L1/L2 Network protocol Token, however the previous wave structure is not totally similar (first ascending rectangle). It is important to notified this details because it help to articulate the two different scenrio around the key Pivot level set at 0,77. In a correlated scenario to ETH or BTC the equivalent structure to be develop is new abc pattern to complet a Y major cycle. With ana equivalent of 1,57 and 3,50 as graphical level of the last ETH analysis - In terme of % th e potential is 3X more than ETH so it is quiet interesting to watch this coin in term of COIN PICKING. However and not the less, the bullish element from graphical and indicators are not yet at the same level from what we are seeing on ETH at the moment , the bullish presignal is not yet strong and that why a break above 1,07 is mandatory to jeopardize any new negative price action (test and break of 0,77) The global picture within a global macro approach is bullish in order to replicate an auto-similar move which could develop a rise to 12 area in log scale in the best case :) Key Level to Watch on daily chart basis 0,77 Overlap + Key Fibonacci level (auto-similar short-term wave structure) 0,87 perfect entry level in setback (if we see it) 1,07 upside conf level = auto-similar move within a bearish structure 1,57 key first taking profit level = 3800 ETH + Overlap Key Element to watch RSI is providing clear pre-signal EMA 21/34 are support but no golden cross EMA89 is Resistance Elliot Wave Structure is showing a potential strong bullish pattern on going (3rd ascending rectangle) Tactical View 3 to 12 Weeks As long as 0,77 remains support, accumulating around 0,87 make sense to anticipate a break above 1,07 and play 1,57 on a shorter run before developing a further upside potential towards 3,50 (Almost 300%) Else A failed below 1,07 could reinforce the bearish scenario confirmed with a break of 0,77 Enjoy my friends
Long
by JeanJean1983
ALGO finally overcomes the downward channelThe Algorand coin appears to be in the bullish territory after breaching the falling wedge pattern. The Supertrend indicator generated the bullish indication last night in terms of the daily price chart. The Algorand coin is noticing above the 20 and 50-day moving averages in the context of a daily price chart. And remaining 100 and 200-EMAs may distract the bullish momentum. The relative strength index (RSI) remains above the halfway line (50-point) after a long consolidation below it. At the time of writing, the RSI is represented at the 64-level, providing a clear directional trend. The Average Directional Index (ADX) is gradually decreasing but still suggests a bullish momentum for the Algorand coin. Now the Algorand coin is moving towards the psychological level of $1.0, where the battle between buyer and sellers may occur for the directional trend. Unless the bears may continue to dominate the coin. Support level- $0.680 and $0.370 Resistance level- $1.0and $1.30
Long
by TheCoinRepublic
Don't forget about Algorand! 🪐🪐Greetings, Today we're looking at ALGO/USD - Algorand is a decentralized blockchain-based network that supports a wide range of applications. Algorand purpose is to speed up transactions and improve efficiency, in response to the slow transaction times of Bitcoin and other blocks. It's design focus is lower transaction fees, as well as no mining (like Bitcoin's energy-intensive process), as it is based on a permissionless pure proof-of-stake (PoS) blockchain protocol. If you have a look at the chart, our Long Term Bottom line is drawn in (orange) around 70c region. If we look at this price on the daily or weekly time frame we can see that 70c was once resistance, which has now become support. I look at this price as being a value buy, for Algo to fall below 70c again there would have to be a large crash across the market, which is always possible! Current Price: $0.84 Buy Zone: #1 - $0.70 - $0.76 #2 - $0.76 - $0.84 Targets: #1 - $1.38 #2 - $1.61 #3 - $1.82 #4 - $2.1 #5 - $2.53 On the smaller time frames 1-2 Hrs - we may also have an inverse head and shoulders playing out, which is a bullish pattern! As you can see i've set targets quite high on this one - We won't be trading Algo with any leverage as the market can be volatile in both directions. Cryptocurrency market can be extremely violent, so keep in mind that we're always using our tools and indicators to decide the structure of the market to try and predict the future. Remember, nothing is guaranteed, control the controllables. Mogues
COINBASE:ALGOUSDLong
by mogues
8