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Algorand

ALGOUSD has bottomed. Next High at $4.00.Algorand's price action has been very straightforward since the start of 2020, as it has been trading within a long-term Channel Up. Every Higher High follows a +0.236, +0.786 +1.0 sequence on the Fibonacci scale and every Bottom is made on the second low following the correction and a Triple Bottom on the 1D RSI (green shape). If this pattern continues, then ALGO should currently be on its bottom as it is the second low leg since the correction (could be even the third if we count December 04). That makes it a strong buy opportunity on the current levels. A 1D MA50/MA100 Bullish Cross should come as confirmation of the rally but the accumulation process has already started. Based on the Fibonacci sequence of Higher Highs, the next High should be on the 2.236 Fib extension i.e. somewhere around $4.00. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
BINANCE:ALGOUSDLong
by TradingShot
10
AlgoUsdt Algousdt: Description: It made small breakout but without any confirmation about it. We just got 2 candlestick clsoed above it which is not enought and also there is some diagonal resistance trendline from which one we got rejection and rejected down to retest breakout level. For now i can't say anything with ambitions about algo. If we hold this level next resistance would be around 1.65$ If we got rejection from here next support line would be around 1,383. if lose that level most likely in that case algo will drop down around 1,2 WIth respect your Rhino Aka Bear.
by RhinoAkaBear
ALGO with the flow...ALGO has held up fairly well over the past week and is still trading above its long-term ascending support (black line) which it has held since December 2020. It is attempting to break above its short-term resistance at ~1.42 and flip it into support. The areas of resistance are marked on the chart (red lines) and will be potential short-term take-profit targets. In the long-term ALGO may push toward the top of the channel. If BTC continues to find stability and push upward, ALGO can move with it. Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only :) Please feel free to leave your comments and thoughts below!
Long
by kush23456
2
Time thief Algorand suggests the longer the consolidation? ...The bigger the breakout. Algorand likes to chode a lot, delay pumps and the dumps and is sometimes contrarian to the market. This could be a similar October 2020 repeat for all we know, hard to tell but my fear is Algorand never tested 500 ma on the daily like bitcoin and many other alts did. That kind of sucks if it dumps later, I mean why get people's hopes up to later dump on them? Some real crappy VCs are behind this start up, watchout.
by axelrodd
1
ALGO/USDT- Direction: Bullish - Pattern type: Continuation - A bullflag can occur within the context of a longer uptrend and following a steep upward move. Following this steep move the pattern the forms a short horizontal OR downward sloping channel shaped like a flag. In the stock market de flag portion of the pattern shouldnt last longer than 3-4 weeks on a 1D chart. But since cryptomarkets move much faster the pattern could still show strength and be valid. - Important support - Potential bullflag - Need volume for breakout - Volume diminishing troughout pattern - DEC 24th good entry; 1. RSI crossed SMA on 21st/22nd of december 2. MACD crossing upwards with first green candle in histogram 3. Volume slightly increasing while bulls are winning 4. Bollinger band was crossed + 4 candles, then wait for confirmation from RSI, MACD, and Volume - RSI is getting supprt from SMA14 - Still potential bullflag - Nice retest for support $1.45 zone - If the volume can keep increasing up until above average with, a close above the upper descending trendline drawn across the highs, this would be a confirmation of the breakout. - To set the target you'd have to measure the price movement of the previous steep move that led to the flag and then add that amount to the current price at breakout. EMA's: The last significant cross was EMA9 crossing all of the others (50, 100 and 200) downwards while the EMA50 gave a false signal, seemed to cross the EMA100 downwards but then immediatly turned around and crossing EMA100 upwards right after. EMA9 has also crossed als of the others upwards now. next step would be the EMA50 confirming the 100 cross upwards. After that we should see al the EMA's change direction into an uptrend and providing support for the trend continuation.
Long
by AnitaDollar
ALGORAND- Next to Pump 🕺ALGORAND has been extra volatile with a huge pump and dump candle just a few weeks ago. At this stage the rice has just broken over resistance and could possibly fly higher. News: Algorand Surges as Foundation Incentivizes DeFi Activity on Algofi The announcement of liquidity rewards for a product built on Algorand put ALGO tokens among the few gainers on (last) Thursday. The move came hours after the Algorand Foundation, which oversees development on layer 1 blockchain Algorand, announced a $3 million incentive program for Algofi, a decentralized finance (DeFi) platform that relies on smart contracts to offer low-cost lending and borrowing services to users. “Through a partnership with the @AlgoFoundation Aeneas DeFi Fund, Algofi will be launching a rewards program of $3MM (2MM $ALGO),” Algofi noted in a tweet this morning, adding the incentives will run for active users through the first quarter of 2022.
Long
by FX_Professor
3
ALGO/USD ChartHi, I try to post often so if you could follow and like it would mean a lot to me. ALGO is very bullish right now and is ready to move towards 2$. The FOMO on the coin is amazing, the 4H and 1D charts are looking amazing. The coin broke the 1.50$ resistance a few days ago, and after having a bullish retest, the coin looks ready to skyrocket. I don't have to much to say, but right now BTC is moving sideways in between the 45K-48K, and the best way to be profitable right now is in alts that are showing strenght (like ATOM and ALGO). Please comment what you think and check my recent ideas!
COINBASE:ALGOUSDLong
by Devan-CryptoCharts
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