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Algorand

ALGORAND 1 possible long term scenarioFirst things first, monthly chart looks very bullish. Very obvious higher highs and high lows, market structure break leaving monthly demand zones. Using the fib trend tool, we can guess at AlGOs next target which would be 3.3057 which is our 1.618 fib target. Judging by the current swings in the market, if there is some sort of major correction, I'd expect price to go down either to the 0.5 fib level or below it to fill that imbalance zone it left behind and maybe bounce from there. Though at the moment, we are still in a bull market so I don't expect such a major correction. But if we do get one, it wouldn't be a bad thing because at 0.5 or below it, we could potentially find amazing long term entries. So if you do see ALGO going way down for some reason, look at the monthly. Cheers.
Long
by solomonroskin
$ALGO targets $6 over the LT but w/ ST potential downside riskI think the next time we touch the blue trend line running through the middle of the chart, it should break. Which would give $algo great upside to the higher green targets w/ a potential of $6 as the final target. The key level to break on the upside is $2.56 (ATH) which would provide a path for continuation upwards. However, the question is, what is the path to get there? I don't think the trade is as simple as it looks from the chart at the moment. While there appears to be a flag that has formed on the chart, and the indicators are looking good, I think BTC could potentially take Algo down with it, if it were to fall. I think the most likely scenario from here is that we break down from the flag (or break up and roll over) and find support at $.96-1.23 before the uptrend resumes. Reason being, that I'd have a hard time seeing Algo running straight up without retesting those lows first. Let's see how it plays out. I added some key dates on the chart for changes in price action to watch.
COINBASE:ALGOUSD
by benjihyam
Huge Opportunity on ALGO 🚀ALGO looking absolutely great, after being in consolidation for a long time is ready to PUMP. Looking extremely good, just need to wait for clear breakout with a good level of volume. In the meantime the massive ascending triangle will still going on, the more times we hit the resistance, the more likely it is that we will be able to break it and hit a new ATH. This will be broke in the next few days/weeks (max). As soon as we breakout this resistance the price target would be around of $2.6 and as you know after breaking ATH there is no resistance 😉. If we use the Fibonacci retracement the targets would be $3.2 and $4.3. Please guys be cautious but don't miss this awesome opportunity.
Long
by TheTradingBuddies
4
ALGORAND - Against BTC staking staking & staking Algorand (ALGO)’s main aim is to drive low-cost cross-border payments. Being a PoS protocol, the network needs stakers for security and transaction processing. Unlike Tezos, it uses the pure proof-of-stake (PPoS) consensus mechanism. However, it still requires stakers to run full nodes. Furthermore, there are third parties who support ALGO delegation. Staking rewards on these networks range between five and ten percent annually. Note that the rewards are influenced by the platform used. For example, those using Binance Staking enjoy an APY (annual percentage yield) of 8%. Rank #20 Coin On 373,858 watchlists Algorand Price (ALGO) $1.86 0.93% 0.00003045 BTC1.30% 0.0004137 ETH0.54%
by doqstrader
ALGO / USDT - Big triangle pattern. on the verge a breakout?Here is my take on ALGO / USDT 4H. We are witnessing a triangle formation with a potential breakout. If the ranging motion continues then we can consider the pattern as invalidated. If the triangle breaks the upper line of the triangle - I recommend that you wait for a solid confirmation - then enter a long position. Take profit ideas: TG1 - 2.08$ TG2 - 2.18$ TG3 - 2.26$ TG4 - 2.44$ I keep it simple and clean! Likes, comments, and follows are dearly appreciated. Let me know what you think and which ones you would like for me to analyze next. Trade safely!
Long
by Droz_TA
8
$ALGO Symmetrical TriangleRSI is showing strength maintaining above the 46 level. The 50-day MA passed up through the 200-day MA signifying a Golden Cross. MACD doesn't look the greatest but does appear to be moving in the right direction. Scenario A: break-out of the triangle, zoom towards previous ATH, contend with it momentarily and then make new ATH Scenario B: breakdown out of the triangle, fall towards 200-day MA or previous support. Which scenario do you think is more likely? Imagine when ALGO gets the market cap of ADA or SOL... Algorand would be at about $11 if that were the case based on current market caps at the time of this post. Weekly Chart:
COINBASE:ALGOUSDLong
by EBITDAtiger
ALGO to remain in correction phase above $1.75The Algorand price analysis shows that the ALGO/USD is correcting today. A decrease in price has been observed as bears are ruling the charts today. ALGO remained bullish for the last four days, and the price uplifted during that time but to a limited extent. Overall, ALGO has been following a wave pattern for more than a month and has been unable to break above the $2.3 level. Only one high swing was observed during the past weeks when ALGO went as high as $2.05 on 25th October, followed by a reversal of the same even higher magnitude when ALGO stooped down to $1.79 on 27th October. Since then, the price oscillation has been small.
COINBASE:ALGOUSDLong
by BernardMikhail1
1