ALGO | Stands at Demand ZoneALGOUSDT is retesting its breakout level. It is currently standing at a very good support level. It has immense potential for upside for atleast 50% in near term. Manage your risk accordingly.
ALGOUSD.P trade ideas
ALGO's wave 5 could gain some significant ground here soon!ALGO has been doing very well the past month or so, and is looking to do even better here shortly. The current wave 5 is generally the most explosive, and largest gaining. Although, the price action looks like it could potentially drop closer to the lower trend line (white line). This line has held very well so far since this uptrend started, and the wave pattern will continue to stand as long as the price action doesn't drop below the wave one high. If the wave 5 plays out properly we could easily see ALGO run into the mid .40's.
Good luck, and always use a stop-loss!
First Ever Camel Pattern I have identified the first ever camel pattern in the chart, I am dubbing the term Cash Camel Pattern. For all of my Russian speakers,bogatyy verblyud (they wont let me put cyrillic on the english version). I have no price targets, nor do I have any way to trade this technically. After the price action plays out I will update and give my interpretation of this glorious tarding pattern. The pattern is denoted in the purple box with white outline.
There is how ever a "vomiting camel pattern," but this seems to be in bearish context. The chart of Algo before us is in bullish contect at this point.
ALGO waiting for everything to line upWait for the finishing of wave 5 . Then we could see a abc correction to the 0.5 fib. Then we could be at the and of the handle of the cup. Then a beautifull way to the upside. A bigger c&h formed ling time ago with a take profit to the 0.45 so i think we will head there.
Bullish Algorand IdeaLooking at the weekly chart for Algorand, it's worth paying attention to a developing huge head & shoulders pattern, which usually indicates the market bottom, creating a fresh higher high.
Since Algorand peaked back in November 2021, it entered a mean downtrend which lasted for approximately 700 days.
We can also see that the market developed a bit of diagonal resistance, and bears followed it all the way down.
Now, what we also see is that the market showed significant respect toward the $0.30 zone for approximately 1600 days.
Should the bulls take the opportunity to break through the key horizontal resistance and fully develop the H&S pattern, I’m expecting #Algorand to pump to approximately $0.80, which is a key horizontal resistance previously respected by buyers and sellers.
ALGO is set up for an EXPLOSIVE move to the upside!ALGO is set up for what I think is going to be an EXPLOSIVE move to the upside. After the cup & handle breakout I predicted came to pass, and a nice retest of the rim-line, which just occurred, I think we are about to experience an EXPLOSIVE Wave 5 to the upside.
Buckle up!
Good luck, and always use a stop-loss!
ALGO Trade Idea ALGO trading at easy risk management levels here with massive upside.
Could be in for a big crypto rally?
Algorand once lived, but is now DEAD. Trash gets burned because ... why would bury trash and give it a tombstone? There is nothing worthy to put on the tombstone of trash shitcoin that died!
Algorand is an extremely weak coin.
It was over $2 in 2021 and is barely above $0.20 right now, while most other CHAD ALPHA COINS, such as Solana and Cardano, have multiple X'd from their bear market lows.
Algorand has no development or community. It had a $13 billion market cap in 2021, higher than Filecoin, but today is WAAAAAY behind COINBASE:FILUSD #FILECOIN TSX:FIL #FIL in market cap (2.5x times lower).
Why would anyone trade or hold this?
Algorand is going to $0.01!!
ALGO - LONG TERM - Algorand is a decentralized blockchain platform designed to provide a secure, scalable, and decentralized infrastructure for the development and deployment of decentralized applications (dApps) and financial protocols. Founded by Silvio Micali, a Turing Award-winning computer scientist, Algorand aims to address some of the key challenges facing existing blockchain networks, such as scalability, decentralization, and security.
One of the key innovations of Algorand is its consensus mechanism, known as Pure Proof-of-Stake (PPoS). In the Algorand network, block proposers and validators are chosen randomly based on the amount of Algos (the native cryptocurrency of the Algorand network) they hold and are willing to stake. This ensures decentralization and security while maintaining high throughput and low transaction fees.
Algorand's PPoS consensus mechanism enables the network to achieve fast transaction finality, typically in under five seconds, making it suitable for a wide range of applications, including financial transactions, supply chain management, and decentralized finance (DeFi) applications.
Another key feature of Algorand is its Layer-1 smart contracts, which allow developers to build complex dApps directly on the blockchain without relying on external protocols or layers. This simplifies the development process and reduces the potential for security vulnerabilities.
Algorand also supports atomic transfers, which allow multiple transactions to be executed simultaneously or none at all, ensuring the integrity of transactions and reducing the risk of fraud or manipulation.
The Algorand ecosystem is supported by a vibrant community of developers, researchers, and enthusiasts who contribute to the platform's growth and adoption. The Algorand Foundation, a non-profit organization, oversees the development and governance of the Algorand network, while Algorand Inc., a technology company, provides technical support and services to enterprises and developers building on the platform.
Overall, Algorand aims to provide a scalable, secure, and decentralized blockchain platform that can support a wide range of applications and use cases, from financial services to decentralized governance and beyond. With its innovative consensus mechanism and Layer-1 smart contracts, Algorand is well-positioned to play a significant role in the future of decentralized technologies.
ALGO 228% ??Possible scenario for ALGO 228% in the long mid or short term??
I would like to know your opinion!
My TOP10 project list - pick number 3/10Algorand is a solid project. ISO20022 compliant and has strong ties to the global elite.
Its price got completely obliterated when Gary Gensler (SEC) who formerly had exprssed very positive views on the project, attacked it by declaring it a Security in April 2023.
However this is just a shitshow (as the lawsuit against Ripple which the SEC has lost) to discourage retail investors. Elites do not want every day people aboard. They have the moral obligation to protect the consumer from making to much money.
The price is still very close to its all time low ATL at 0.0879 $ (acutally 0.1142 at the time writing). Still down 96% from its ATH !
It has recently broken out from an almost 2 years long descending bullish wedge and is heading higher.
What makes Algorand unique: founded in 2017 by Silvio Micali, a renowned cryptographer, and recipient of the Turing Award and MIT researchers, it is a platform for scalability, security, and decentralization that aims to revolutionize decentralized applications (dApps) and smart contracts. It has very high throughput capabilities and very low transaction cost (0.0001$ per transaction). It has smart contract capabilities. In addition to its technical strengths, Algorand stands out for its commitment to sustainability. The network's low energy requirements contribute to its carbon negativity, and the Algorand Foundation actively engages in carbon offsetting initiatives.
Algorand is here to stay and thos who have the will to buy it around these lows (not financial advice but I bought under 10 cents) will be handsomely rewarded for their courage.
ALGO/USD Potential H & S Bottom reversal ALGO / USD
⌛️Potential head and shoulders breakout (pending)
✅Above 200 SMA
✅Moderate Rising Volume
🎯H&S Target aligns with 0.618 Fib Ext & prior
resistance levels (Targets are never guarantees)
#Algorand #AlgorandNFTs EURONEXT:ALGO
ALGO/USDAlgo has broken out of a huge falling wedge and has created a head & shoulders pattern in doing so. Once the neckline breaks, Algo has a lot of resistance ahead.
This one is for the ones with patience!
Let the trade come to you. Don't chase the trade!
Weekly break on algorand.If we break and hold the weekly zone. Algorand is going to go on an absolute ride
Target on AlgoUSDCheck these weekly charts on ALL of your cryptos. And just know that 100 sma is a tractor beam..
Is ALGO in a Wyckoff Phase?Using the Wyckoff schematic attached into the chart I'm watching for any distribution around here. This is for now theory as it's looking very much like it, but we'll see.
Just a cautionary heads up for now......
An update t my Algorand Chart We can see as is common with most cryptos, the Algo went back below the purple trendline after its 1st initial breach above the purple channel. Now that we have broken above again and retested that line as support probability increases significantly for it to validate the breakout this time around. So I have posted an updated chart with the measured move line adjusted accOrdinary to reflect the new expected price target should it validate here. We must remember that often times price will send a few candles above a neckline and then dip back down below anywhere from 1-4 times before the real breakout so there is still a mild probability it could once again correct back below the trendline before it actually validates the breakout. Being that it already has once before though, and that there’s lots of room left to climb on the stochrsi indicator there is relatively good probability that the breakout validation can be confirmed on the current breach above the channel. *not financial advice*
ALGO hitting an IMPULSE WAVE?Could the Altcoin season just be getting interesintg with ALGORAND running into an impulse wave?
Let's talk about Elliot Waves.
Certainly! **Elliott Wave Theory** is a fascinating approach to technical analysis that identifies recurrent long-term price patterns based on changes in investor sentiment and psychology. Let's delve into the key concepts:
1. **What is Elliott Wave Theory?**
- Named after **Ralph Nelson Elliott**, this theory aims to predict market movements by observing repetitive wave patterns.
- Elliott discovered that stock market movements follow specific wave patterns, which he outlined in his book titled *The Wave Principle* in 1938.
- The theory combines elements from the **Dow Theory** with the fractal nature of market action.
2. **Basic Principles:**
- **Motive Waves (Impulses)**: These waves move in the direction of the trend and consist of five sub-waves labeled 1, 2, 3, 4, and 5.
- **Impulse Wave**: A straightforward five-wave move.
- **Impulse with Extension**: Similar to an impulse but with an extended fifth wave.
- **Leading Diagonal**: A diagonal pattern within an impulse.
- **Corrective Waves**: These waves oppose the larger trend and consist of three sub-waves labeled A, B, and C.
- **Zigzag**: A common corrective pattern.
- **Flat**: A sideways correction.
- **Regular Flats**: Standard flat correction.
- **Expanded Flats**: A more complex flat correction.
- **Running Flats**: A variation of flat correction.
- **Triangles**: A consolidation pattern.
- **Double Three**: Two corrective patterns combined.
- **Triple Three**: Three corrective patterns combined.
3. **Wave Degree and Fractals**:
- Elliott Waves exhibit a fractal nature, meaning smaller patterns fit into larger ones.
- The Fibonacci relationships between waves enhance anticipation and prediction.
- Think of it like broccoli: Smaller pieces resemble the larger piece.
4. **Application**:
- Traders use Elliott Wave Theory to identify potential trading opportunities with favorable reward-to-risk ratios.
- By understanding these wave patterns, traders can anticipate market moves.
Source: Conversation with Bing, 3/1/2024
(1) Impulsive 5 wave structure - Ground Rules | Learn Elliott Wave | Elliott Wave Theory. www.youtube.com
(2) ELLIOTT WAVE THEORY (Part 3): Impulses and Diagonals . www.youtube.com
(3) Elliott Wave Theory for Beginners | ULTIMATE In-Depth Guide!. www.youtube.com
(4) Elliott Wave Theory: Rules, Guidelines and Basic Structures. elliottwave-forecast.com
(5) Introduction to Elliott Wave Theory - Investopedia. www.investopedia.com
(6) Elliott Wave Theory - Overview, Types, Market Applications. corporatefinanceinstitute.com
(7) Elliott Wave Theory: What It Is and How to Use It - Investopedia. www.investopedia.com
$ALGO Potential Break outAlgorand has been lagging behind most alt coins in this early stage of the bull run.
last few days we've seen a noticeable increase in volume and a breakout of a short term downward trend.
I expect a sharp move upward once we strike the orange horizontal line, which has been previously a resistance line.
ALGO - STILL BULLISH: NOW forming Elliot Wave 2-3📉Hi Traders, Investors and Speculators of Charts📈
If you've been following, you'll know I'm fundamentally bullish on Algorand. And it gets better than fundamentals - we are currently witnessing a similar fractal that played out on ALGO during early days - the Elliot Wave Fractal.
From the macro perspective, we can see that Algorand has a long way to go before reclaiming previous highs, unlike many other altcoins. It's hard to find an altcoin with good fundamentals tat still has 2000% upside potential, away from previous all time high.
If you found this content helpful, please remember to hit like and subscribe and never miss a moment in the markets.
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BINANCE:ALGOUSDT
#algo pattern in my opinion it is a bowl with a first we will form a bowl handle and we'll see there
