ALGOUSD.P trade ideas
ALGO looking great.Here are some key resistance and support lines. I'll be looking to see if ALGO will hold the blue increased support levels and if it does not, I'll be looking for buy setups around $1.10 or below.
Note the MACD prior to the last massive swing up in February. We seem to be going through a similar pattern through March coming into April hanging around in the .025 to .05 range.
I'm excited for more ALGO action as we get further into this crypto market bull run.
+ this is my first published chart so I'll hopefully improve
ALGO Breaking Out!ALGO over $1.45 resistance can imply a 18% move back to $170 lvl area. The last 10 days has shown a nice rally from $1 lvl back to $1.45. We formed a nice bull pennant on the daily chart and right now looks to be breaking above. I will look to enter over $1.45 for a swing, SL at 1.38.
ALGO channel top once againAlgorand looks to be testing the top of an ascending channel (red dashed lines) once again similarly to how it did at the end of March.
A break here could be a great sign for ALGO as it could signal a new ATH , but there is also bearish divergence forming both on the 4-hour chart (blue lines) as well as on the daily chart . If resistance holds here, it could send the price sub-$1.20 if the bottom of the channel gets tested next. Additionally if channel support fails, it could send the price sub $1.
Ultimately any price changes in BTC could easily influence the direction over the next day, so there is much uncertainty here, but also much potential for the trend to change in either direction. ALGO looks to be interesting to keep an eye on either way over the next few hours/days.
Algorand flipping long term resistance into support, plus cup.Algorand seems to have formed a beautiful cup and is now flipping resistance into support. Long ago the company projected a $2.50 price target for this summer, and the pattern and project is right on track to reach those targets. Very bullish on this coin. Any vets agree/disagree?
ALGORAND Crypto! Strong GainsAfter checking some alt coins out, I came across ALGORAND ($ALGO). It is a cryptocurrency that has grown over 760% since its release last year. Fluctuations in the price and a fair amount of volatility give access to bigger gains (in terms of %) in a shorter period of time. It has shown great price increase which is why I decided to slowly get into it.
Let me know what you think, and drop some great alt coins in the comments!
Thierry
ALGO long targetting highsI'm long Algo here as it broke above and retested the 1.33 level. Targeting the highs
Possible divergence at ALGO
Algorand has had a good last week of recuperation with +30% boosted by the general recovery of all currencies especially the Altcoins.
2-3 days ago it bounced off the resistance of the bullish channel which it has not been able to break and came close to the $1.20 level where there was strong buying from the people.
Currently it is a bit far from both the EMA and MA 20 last sessions.
To note the clear bearish trend generated by the average volume in the last 5 sessions that could generate a bearish divergence to the price.
With all this I could expect a break towards the bottom of the channel that could coincide with the support of $1.18-1.20 and then bounce again to the top of the channel breaking all the resistances in between.
Algorand lleva una buena ultima semana de recuperación con un +30% impulsado por la recuperación general de todas las monedas especialmente de las Altcoins.
Hace 2-3 días reboto con la resistencia del canal alcista que no ha podido romper y se acercó a buscar los $1.20 donde hubo una fuerte compra por parte de la gente.
Actualmente se encuentra un poco lejos tanto de la EMA como la MA 20 ultimas sesiones.
A destacar la clara tendencia a la baja generada por la media del volumen en las ultimas 5 sesiones que eso podría generar una divergencia bajista al precio.
Con todo esto podría esperar un descanso hacia la parte baja del canal que podría coincidir con el soporte de los $1.18-1.20 para luego rebotar otra vez hacia la parte alta del canal rompiendo todas las resistencias de en medio.
Small downward channel up against fib lineWe're in a small downward channel right now, and we should bounce off the .382 fib line as well as that green line of support. It may re-test the top of the channel, but as it's getting squeezed, we should see a break out testing $1.47 with $1.35 as new low support
ALGOUSD inverse HEAD AND SHOULDERS?Algo looks like it is creating an inverse head and shoulders pattern. Lets see if it will complete the yellow line and break the neck line labeled with the purple arrow. If we can break out of this and the channel we can see us at our local high around $1.84. We can also view it as a cup and handle possibly
I like to keep my ideas short, brief, clean and clear right to the point. Do you own research. Good luck and happy trades this is not trading advice
Algorand small analysis noob learning. There are two different types of people in the world, those who want to know, and those who want to believe.
Friedrich Nietzsche
Algo 1hrMf oversold on support . I dont think it will go below but watch for a wickdown
. Not a rexomebdation.
Poised for a Breakout w/Algo!!!!Chart says it all. We are poised for a breakout on the hourly, all these wicks keep getting filled. ALGO TO LE MOOOOOON KRAKEN:ALGOUSD
TP1 - 2$
SL - None
Leverage - 10x
Broker - FTX
ohhhhhhhhhhhhhhhhhhhh ALGOAlgorand seems to building quite a beautiful structure for take off. Got rejected at the pesky $1.4 resistance- wicked above but didn't close above. If and when we close above the $1.4 level we should be on track to smash past the previous local high.
Just my 2 cents!
ALGO USD pennant, bullish continuationAfter breaking out a couple days ago, ALGO is consolidating for another leg up. If not already long, wait for confirmation of entry.
ALGO (ALGOPERP) – Long signalBUY: 1.12 – 1.18 (Wait for price to reclaim the EMAs before entering)
TARGETS:
1) 1.44
2) 1.77
STOP: When a 4h candle closes below 0.98
Rationale:
-The 100 and 200 EMA have acted as strong support for the duration of the uptrend.
-More recently, the price has been conforming to an ascending channel.
-The RSI has also been moving in a channel and is at a key support/resistance level.
-If the RSI can break and hold above the channel it should also hold above the 200EMA. This is our signal to enter a long position.
-The confluence with the 200EMA and RSI gives us confidence in taking a long position once the EMA is reclaimed as support.
Your risk, your reward. This is not financial advice.
Happy trading.
Algorand (ALGO) - March 30Hello?
Dear traders, nice to meet you.
By "following" you can always get new information quickly.
Please also ask for the "Like" clock.
Have a nice day.
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You should watch for any movement that deviates from the 1.35677473-1.47009413 section.
If it goes down, you need to make sure you get support at 1.32179365.
If you fall at the 1.18903235 point, you need a short stop loss.
However, it may rise along the uptrend line, so careful trading is necessary.
We'll get support at 1.47009413 and see if we can climb above 2.11836146.
In the CCI-RC indicator, it remains to be seen whether the CCI line can break above the EMA line.
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(ALGOBTC 1D chart)
We need to see if we get support at the 2374 Satoshi spot and see if it breaks off the downtrend line.
The next volatility period is around April 7.
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** All indicators are lagging indicators.
So, it's important to be aware that the indicator moves accordingly with the movement of price and volume.
Just for the sake of convenience, we are talking upside down for interpretation of the indicators.
** The wRSI_SR indicator is an indicator created by adding settings and options from the existing Stochastic RSI indicator.
Therefore, the interpretation is the same as the conventional 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 that oh92 disclosed. (Thank you for this.)
** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.
Explanation of abbreviations displayed on 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 segment that can be bought for profit generation as a support point or segment
(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment transactions. 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 do not trade 24 hours a day.
G1: Closing price when closed
G2: Cigar at the time of opening
(Example) Gap (G1-G2)
algo ideatook some profits at 1.42 holding the rest for 1.72 i think algo looks solid on the daily but getting overbiught, current daily resistance at 1.40 and support at around 1.30. i think it should keep going up after a minor retrace
Algo channel top, will it bounce?Algorand looks like it has broken out of a wedge and heading upward. However, it is about to hit resistance in a ascending channel it has been in since February. However, if it breaks through that resistance, that could be a good sign that it is about to continue upward similar to what it did at its previous breakout. Hence $1.45 looks to be an interesting price to watch.
