Get started

Algorand

ALGO Forms Ascending Triangle Near ATH-ALGO has risen 64% over the last week -Price has now formed an ascending triangle -ALGO has been held up by the 30MA 

Algorand just had one of its best weeks in terms of percentage growth since many months ago. Back on the 7th of September, the entire cryptocurrency market experienced a massive pullback that brought many coins down -20% or more. Since then, ALGO has revived over 140% to a new all time high of $2.49. Algorand offers a highly efficient proof of stake blockchain that can outperform many of the other top blockchain platforms. Just now people seem to be realizing the value in these highly efficient blockchain technologies. 

 Ever since ALGO broke over the $1.95 level, it has successfully held it as support. Over the past few days, bulls have been having trouble breaking over the major resistance zone found from $2.22-$2.40. Each time price has touched this level, it has failed to hold it & has gotten rejected back down to the next support. This price action over the last few days has formed what’s known as an ascending triangle. This is a generally bullish pattern as it is activated once the top trend breaks. If bulls manage to hold within the zone ALGO is currently in, expect prices to rise to $2.69 fairly soon. 

 Since the beginning of September, price has been holding above the 30MA besides on September 7th when prices had a flash crash & rebounded right back above it. We can use this MA as a good gauge as to whether or not ALGO is in a bullish trend. At the time of writing, this MA is directly in line with the bottom trend line of the ascending triangle ALGO has formed. In the case that bears assert more control & pull ALGO below its ascending triangle, expect prices to land between $1.77-$1.94. 

 While looking at the Stochastic RSI, we can see strength has just entered the overbought territory. If strength continues within this zone, ALGO may be in position to break towards another ATH. If strength breaks below the 80 value, expect prices to fall back to the support trend of the triangle. While looking at the MACD, we can see the MA’s have been floating well above the 0 value within bullish territory. As long as the histogram continues ticking green, price is in a bullish state. ALGO Intraday Analysis Spot rate: $2.34 Trend: Bullish Volatility: Medium Support: $2.22 Resistance: $2.40
by CoinGape
1
ALGOUSDTWe waited ALGO for a while. This coin is really undervalued (like XLM, IOTA and XRP). really nice move since BTC correction. We expect a fibonacci retracement on the 0.618 level, which is the most important FIB level for a healthy growth. From this point, we open a big long and use this retraceemnt as new strong support. ALGO is big and was a sleeping giant for a while . We also identifies maybe a local support around 1,90 We keep close eyes on it and be sure to don't miss itin the case we test again our 0.618 fibonacci level!
Long
by AH_CAPITAL
1
ALGO 1D Watch, read, comment!The last time we analyzed the Algousdt pair was back in February, but if you look at its performance and read the description... you'll see quite a precise realization of the idea. Today let's refresh our thoughts a little, after all, it's been half a year) In recent days, the Algousd chart has recorded abnormally high trading volumes. Importantly, these volumes were recorded on the break-down of all the highs of 2021, which is a strong bullish signal . If the price does not break and fixation below $1.84-1.95 today/tomorrow, the buyers will confirm their strength and serious intentions to continue rising. The growth itself in such situation can continue, at least till $3.50 for the white scenario. Or maybe such a rush around Algo and a burst of trading volumes was due to some strong news? Please, share your thoughts in the comments , you know we don't read the news much and don't base our analysis on it) Because if it's a banal news dump, the price of Algorand token may go down even faster than it went up. A price fixation below $1.84 will show the green light for the sellers, who can easily bring the price of Algousdt down to $1.10 to begin with. We considered many possible scenarios, but we pictured two most likely ones: white and blue! What's interesting, the end goal in both scenarios is around $8.60, though the buyers and sellers will have to overcome different routes and tests to reach the goal) _____________________ Do you like the idea fulfilment? Does it help you trade and make a profit? Do you want more forecasts from us? Give us motivation! (Like, comment and donate). These little things won't make us rich, but they will warm the trader's soul while writing the next idea!
by P_S_trade
41
ALGO - The Beast Is Awakened!Algorand, or what I called " the sleeping giant " is finally awakened. As per my previous analysis (attached below), we have been waiting for a confirmation to buy ALGO around the support 0.700 ALGO activated the buy and traded higher aggressively . This movement reminded me of FTM and how its parabolic movement started. NOW WHAT? ALGO broke above the 1.8 - 2.0 resistance zone so it is now acting as support and we will be looking for buy setups on its retest. Our next rejection / resistance area would be 2.8 - 3.0. 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
22
Has Algorand got your attention yet? It certainly has mine!Greetings traders! Well, what a special move by Algorand! It has shaken off the dump and exploded higher on huge volume! That can't be ignored! Taking a look a possible counts, and rather than see a 1/2/3/4, I can make the case for a 1/2 followed by another 1/2 which has us primed to move much much higher! My advice would be to look for an entry, don't use leverage and only spend an amount of money you are happy to live without. Then put it in your bottom draw because this could be the next moon shot! Good luck!
Long
by east-west_trading
Algorand (ALGO) - September 10Hello? Welcome, traders. By "following", you can always get new information quickly. Please also click "Like". Have a nice day. ------------------------------------- (ALGOUSD 1W Chart) If the price holds above the 0.50221395-0.76754798 range, we expect the uptrend to continue. (1D chart) Support is found at 1.90329264 and is breaking above the 2.11836146-2.25112275 section. In the 2.25112275-2.51664536 section, you need to maintain your momentum to see if you can continue with further climbs. If they do, they should check to see if they find support at the 2.11836146-2.25112275 area. If it falls in the 1.72007755-1.90329264 section, a short-term stop loss is required. The next volatility period is around September 28th. ------------------------------------- (ALGOBTC 1W chart) It is rising in the 1075 Satoshi-4309 Satoshi section, which is a sideways section. If it rises above the 6469 Satoshi point and maintains the price, it is expected to create a new wave. (1D chart) It remains to be seen if the 4309 satoshi-5422 satoshi section can find support and rise above the 6469 satoshi point. ------------------------------------------ We recommend that you trade with your average unit price. This is because, if the price is below your average unit price, whether it is in an uptrend or in a downtrend, there is a high possibility that you will not be able to get a big profit due to the psychological burden. The center of all trading starts with the average unit price at which you start trading. If you ignore this, you may be trading in the wrong direction. Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, ultimately allowing the funds corresponding to the profits to regenerate themselves. ------------------------------------------------------------ ----------------------------------------------------- ** All indicators are lagging indicators. Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume. However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator. ** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator. Therefore, the interpretation is the same as the traditional Stochastic RSI indicator. (K, D line -> R, S line) ** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.) ** See support, resistance, and abbreviation points. ** 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. Explanation of abbreviations displayed in the chart R: A point or section of resistance that requires a response to preserve profits. S-L: Stop Loss point or section S: A point or section where you can buy to make a profit as a support point or section. (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.) GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they are not traded 24 hours a day. G1 : Closing price when closed G2: Opening price (Example) Gap (G1-G2)
BINANCE:ALGOUSD
by readCrypto
1
🔥 ALGO All Targets Reached: What's next?Yesterday I made an analysis on ALGO. I wrote that I expected ALGO to become one of the new market leaders. I expected some kind of minor consolidation period between 1.85 and 1.60, but the market thought otherwise. It doesn't often happen that we're seeing a massive vertical move like this! For those who got in, congratulations. As mentioned, ALGO has blasted through the $2.20 target and has hit $2.50 on some exchanges. But what now? First of all, the area between $2.20 and $2.50 is now functioning as a support area, we could see some consolidation here. The 1.618 Fibonacci extension has yet to be reached, located at $2.60. This is the major first target. Next target is $3, which coincides with the 2.00 Fibonacci Extension. Let's see what ALGO is can bring. Happy trading!
Long
by FieryTrading
11
ALGORAND: Sleeping giant on the moveI'll be honest, I did not expect Algo out of all of them to start pumping like there's no tomorrow the moment BTC crashed. I love this little coin! But it's been really quiet for a long time. Here's a simple set up on an hourly chart. I love using fibonacci channel when I see a clear trend up or down like this. That way I can see the levels it's less likely to go past, aka resistance and support levels, duh. Yes, it is now way above the EMA 200, so I expect it to go down naturally, even without the help of any force majeure event (you never know these days). I personally hope to at least see the price of $2.60-2.63, before the trend starts to weaken. But first it needs to get comfortable with $2.5. Then who knows, I've heard traders call $3. What do you guys think?
COINBASE:ALGOUSDLong
by EsmeBoussen
3
ALGOUSD on its way to the All Time HighPattern: Channel Up on 1D. Signal: Buy on the next pull-back after the 1D Golden Cross gets formed. That has been the last buy signal in the two previous bullish legs to a Higher High. Target: 3.7500 (the All Time High). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> GJMRealEstate --------------------------------------------------------------------------------------------------------
BINANCE:ALGOUSD
by TradingShot
13