ALGOUSD trade ideas
ALGOrand Action ContinuesToday we see some action in the COINBASE:ALGOUSD market that started a few hours back. There looks to be still positive entry opportunities here for continued growth.
algorand.co
What is happening with the project?
"Algorand is an energy-efficient, quantum-secure, single-layer blockchain with instant finality, consistently high throughput, and low fees."
We like low fees and quantum security as I did recently read in a scientific journal that a Quantum Computer was used in China to hack blockchain related technology. Something to be aware of in the future with increasing reliance on AI-enabled tooling.
Stay tuned for continued action and get those orders in.
Remember Habibi, real Kings don't buy at market price, we use proven strategies based on solid technical research.
The desert tests your will not your strength.
Algorand Bullish Divergence
Two drives of bullish divergence are playing out on the daily chart for Algorand. This looks like a Higher Low being formed to test the Lower High. The bullish trend is waiting for the trendline to break to one side and is leaning toward the upside.
Algorand ALGOUSD Periodic Analysis (Issue 58)The analyst believes that the price of Algorand will decrease in the next 24 Days. This prediction is based on quantitative analysis of the price trend.
Please note that the specified take-profit level does not imply a prediction that the price will reach that point. In this framework of analysis and trading, unlike the stop-loss, which is mandatory, setting a take-profit level is optional. Whether the price reaches the take-profit level or not is of no significance, as the results are calculated based on the start and end times. The take-profit level merely indicates the potential maximum price fluctuation within that time frame.
ALGO ABC? Correction to relative new low or we gonna break up and continue the trend? this is just a chart to track progress
ALGOrand Trending +12% Signals Continued GrowthAfter my earlier post on COINBASE:ALGOUSD strong performance, we are seeing some beautiful trending action in the Algorand markets today.
Algorand was founded in 2017 by Silvio Micali, a computer scientist and professor at the Massachusetts Institute of Technology (MIT).
algorandtechnologies.com
Silvio Micali is one of the world’s foremost authorities on mathematics, computer science and cryptography. He is the founder of Algorand Technologies, the builder of the Algorand blockchain, which today is widely acknowledged to be one of the best performing Layer 1 blockchains ever created.
Silvio has helped pioneer many of the breakthrough technologies that help power blockchain today. He is the co-inventor of probabilistic encryption, Zero-Knowledge Proofs, Verifiable Random Functions, and many other innovations that are the foundations of modern cryptography. He holds a total of 47 patents in the fields of random number generation, identification schemes, digital signatures, cryptography, digital certificates, and electronic transactions.
Silvio has been awarded the Turing award for computer science, the Godel Prize for theoretical computer science, and the RSA prize for cryptography.
Algorand ecosystem is very fast as you can see by the transaction speeds when using ALGO wallets like Defly and Pera. Both provide access to a wide range of Web3/DeFi platforms and tools, such as Meme Coins, NTFs, Algorand domains, swaps, and liquidly pools on platform Tinyman v2.
BINANCE:ALGOUSDT isn't just a trending crypto, it is a DeFi ecosystem that is faster than many others out there like Uniswap and Phantom. Uniswap often laggs during swaps, and some swaps do not complete at all and stay in pending state forever. Some tokens cannot be sold because very high cash out fees or low liquidy in a token that has already been cashed out by other Rug Ninjas and Solana scalpers. Similar issues were experienced on Phantom - tokens that can't be sold after buying, high sell fees that make it impossible to cash out after a buy. Phantom is less sketchy than Jupiter, but when you are trading in the world of Algorand, I have not experienced any of the problems that I have had with Uniswap and Phantom as described above. This leads me to have greater confidence in the long-term growth potential for Algorand which puts more than a step ahead than competing and slower platforms like Uniswap, Phantom, Solflare, and Jupiter.
Defly is a superior DeFi experience, not just a wallet and a token.
The easy access to Liquidity Pools on Tinyman v2 is really what sets Defly above other wallets and DEX tools. It becomes possible to invest in a liquidity pool using a wide variety of tokens trading on Algorand, such as MOG, MONKO, Terabro (BRO), $mALGO, TINY, DEFLY, Orange (ORA), PANDA Chain, Death by Disentary (DOD), $BASILK and more.
algorand.co --> HQ
defly.app --> Trade
app.tinyman.org --> Stake + Pool
app.nf.domains --> ALGO Domains
Get into the action with Algorand trading on Defly and see for yourself how fast the transaction speeds really are. Highly recommended!
Remember habibi, the desert tests your will, not your strength.
ALGO 4-hour .. Trade Long in progressI figured this one out a day or two ago.
Placed an order in for the long position.
I am now active in the trade. Even if it goes lower I will just stay in the trade. I see ALGO going upwards for another run.
Yeah so... risky as it may seem, I guessed purely on historical support area and 50% drop from recent ATH.
I am going with the trade, "Buy the dip" philosophy. Buying in, on the way down.
It is possible that, if the market in whole, continues a down hill march...
ALGO will probably reach the 20 cent area. .. Then 15 and 10 cent areas.
Highly unlikely, however it still could happen, nothing is guaranteed.
ALGORAND Bearish Divergence
A bearish divergence is forming with Algorand, requiring Algo to close above the lower high "wick". This is a strong move, but with Bitcoin testing the head and shoulders trendline and Ethereum forming a bear flag, it seems like a trap. Indicators suggest a downward trend.
ALGO/USD Bullish Reversal Setup
ALGO/USD is showing signs of a potential bullish reversal after recently touching the lower Bollinger Band on the 4H timeframe. The price has started to rebound, and a move toward the 38-cent resistance level is likely if bullish momentum continues.
Technical Signals:
Bollinger Band Rebound: The price has crossed back above the lower Bollinger Band, indicating potential support and a reversal.
RSI Neutral Zone: RSI is currently at 40, which leaves room for upward momentum without being overbought.
Short-Term Trend: The price shows signs of consolidation and recovery, aiming for the middle Bollinger Band as the next target before testing 38 cents.
Target Levels:
Immediate Resistance: $0.35 (middle Bollinger Band)
Primary Target: $0.38
Stop-Loss Suggestion:
Set a stop-loss near $0.32 to minimize downside risk.
"ALGO: Bullish Breakout, Targets $1, $1.5, $2.5!"Given the price objectives which are specified—$1, $1.5, and $2.5—the chart offers prospective investors an intriguing opportunity. The research is broken down here to show the main elements that could draw in investors:
* Important Analysis Points:
1. **Recent Surge**: The price has just risen from a low point, suggesting that a bullish phase may be beginning in the market. When coupled by strong volume, as shown in the chart, the steep price gain may indicate a trend reversal or the beginning of a new bull cycle.
2. **Volume Confirmation**: The price increase is accompanied by volume spikes that provide additional evidence of robust purchasing demand, which is encouraging for prospective investors.A high volume frequently indicates the entry of institutional or sizable retail investors into the market.
3.EMA Crossovers: With the 50-day EMA above the 200-day EMA, which usually denotes a bullish trend, the chart displays both the 50-day and 200-day EMAs. Both long-term investors and momentum traders may be drawn to this crossover, which suggests that the market may keep rising.
4.Important Price Goals:
$1: A psychological level that can serve as a significant resistance point is the first target of $1. If this is broken above, more bullish activity may follow.
$1.5: The next resistance level is represented by this price goal. Significant upside potential might be triggered by a clear breakout above $1.5, which would draw in more investors and accelerate the trend.
$2.5: A significant resistance level from earlier highs is represented by the ultimate objective of $2.5. The asset may attract a lot of interest from investors if the price hits this goal, which might indicate a complete rebound of the previous bullish cycle.
5.RSI Indicator: At 44.41, the RSI indicates that the asset is not yet in an overbought state. Before the market gets too stretched, there is still opportunity for expansion. Investors can see this as a chance to get in before the price increases even further.
6.Possibility of Long-Term Growth: The general structure of the chart displays a significant accumulation phase that is followed by a breakout, which is a feature frequently observed in the early phases of a bull run. ALGO may have substantial upside potential over the next months, according to the price action and trend indicators, which makes it a desirable investment for both short- and long-term traders.
Investors' conclusion:
A comparatively low RSI, positive moving average crosses, and rising volume all contribute to the ALGO/USDT chart's strong bullish trend. Investors might profit greatly from the price goals of $1, $1.5, and $2.5—especially if ALGO breaks through these levels. Those who want to profit on the asset's momentum will find the current market structure intriguing, and the comparatively low RSI allows for additional growth before the market gets overbought.
This study can assist in making a strong case for ALGO/USDT investing to prospective investors by concentrating on certain key indicators.
I might just buy the next dip..ALGO is one of my favorites, looking good to buy on the next leg down!
ALGO/USDT: Short Opportunity
On the 1-hour timeframe, ALGO has broken below the black support trendline, indicating bearish momentum.
Setup Details:
Target: Green zone (potential support level).
⚠️ Note: Monitor closely as the price approaches the target zone and manage your risk carefully. This setup presents a potential short opportunity.
ALGO Speculation UpdateMy thoughts on ALGO by way of update from last chart. The SOS failed to hold the purple zone so probably wasn't the SOS; that is likely the next move before a more shallow re-accumulation range in the purple box. True bull run starts from there with various pit-stops along the way. Based on current price action, minimum target is $6.9 but I a believe $15 will be the eventual top.
Algorand "ALGO" Price Target
The ALGO price target is projected to be in the range of approximately .13 .16. I derive this from the breakdown area to the high point, resulting in a measured move that aligns with other crypto retracements having measured H&S targets. Everything will revert to their pre-election levels, implying that Bitcoin will reach 73-76K. This is using a 4hour chart so take that into account.
ALGO Going Lower
ALGO experienced a dead cat bounce back to the .35-.37 area and is expected to test the 22-.25 area before rising again.
ALGOUSD Bull Flag giving a new opportunity to buy.Algorand (ALGOUSD) posted last week its first red 1W candle after an impressive rally of 5 straight green weeks since the U.S. elections. This rally technically stopped on the 1W MA200 (orange trend-line), as although it crossed it, it failed to close the 1W candle above it, which resulted in last week's rejection and red candle.
The 1W RSI turned from extremely overbought (+85.00) to about turn just bullish below the 70.00 barrier. The last time we saw a similar price/ 1W RSI behavior was during the November 2020 - February 2021 rally. As you can see, both started on Bull Flag formations that initiated those impressive rallies that were supported by the 1W MA50 (blue trend-line).
When the February 08 2021 1W RSI hit 85.00 and got rejected, the price started a new Bull Flag pattern that by June 21 2021 hit the 1W MA50 and after forming a multi-week Support base, it rebounded again aggressively. The whole sequence from the November 2020 rally to the November 2021 Top was a +1200 rise.
We expect a similar development and as the dominant historic pattern of Algo seems to be a Channel Down, the next rally can complete a +1200% rally just below the pattern's top (Lower Highs trend-line) at $1.200.
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Algorand (ALGO) Weekly Analysis
Algorand (ALGO) Weekly Analysis
Algorand closed this week below the previous week's low, which to me signals a potential revisit to last week's lows. Here's the breakdown:
Weekly Close: Below last week's low, suggesting bearish momentum.
Price Action: ALGO has failed to maintain above the support level it briefly tested, indicating that sellers might still have control.
I'm watching for:
Support Test: Expect a test of last week's low around .35. If this level doesn't hold, we could see further downside. I'm expecting .29 range to get hit at some point.
Resistance: The immediate resistance now appears to be at .49, which was the high of the previous week but has to get above .45 before getting to that, lol.
Algorand ALGOUSD Periodic Analysis (Issue 52)The analyst believes that the price of { ALGOUSD } will increase in the next 24 days. This prediction is based on quantitative analysis of the price trend.
Please note that the specified take-profit level does not imply a prediction that the price will reach that point. In this framework of analysis and trading, unlike the stop-loss, which is mandatory, setting a take-profit level is optional. Whether the price reaches the take-profit level or not is of no significance, as the results are calculated based on the start and end times. The take-profit level merely indicates the potential maximum price fluctuation within that time frame.
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Risk warning
Investing in high-risk financial markets not only offers the potential for profit but also carries the possibility of losing a portion or even the entirety of your capital.
Various factors, such as market fluctuations, economic and political events, and asset-specific risks, can impact the value of your investments. Prior to making any investment, carefully assess all associated risk factors.
ALGO UpdateI think AGLO (and many of the larger cap alts) has completed a B wave correction of a larger ABC and is now going to move up in five waves for a the C wave. Overall, the move up is likely a B wave and we should then see a return to the range lows for wave C before ultimately heading higher - probably early next year
Algorand (ALGO/USD) 4-Hour Chart: Price Action Analysis
Title: Algorand (ALGO/USD) 4-Hour Chart: Price Action Analysis and Key Structural Shifts
Post:
A thorough analysis of Algorand's 4-hour chart reveals a significant transformation in market sentiment, marked by key structural changes at pivotal price levels. Here's an in-depth exploration of the price action structure theory about this chart:
Trend Transition: Initially, Algorand was on an upward trajectory, as evidenced by a series of ascending highs and lows. However, a critical level of around 0.4670 USD emerged as a decisive point, where the sentiment shifted from bullish to bearish. This level's repeated testing highlights its role as a crucial psychological and technical barrier.
Change of Character (CHoCH): The chart highlights a significant "Change of Character" moment, labeled as "CHoCH". This event signifies when the price forcefully broke below-established support levels, marking a clear transition of control from buyers to sellers.
Formation of a Downward Channel: After experiencing the CHoCH, Algorand's price action subsequently formed a descending channel, marked by two parallel trendlines. This structure represents a bearish phase, characterized by the consistent formation of lower highs and lows, reflecting ongoing selling pressure.
Retesting Key Levels: The price has recently retested the level around 0.4667 USD, which it had broken through previously. Now serving as resistance, this level reminds the market of its former role as support. The inability to surpass this point, followed by a decline, solidifies the current bearish sentiment within the channel.
Current Market Dynamics: Post-test, the price has resumed its downward path, sticking closely to the upper boundary of the channel. This behavior indicates that sellers are still dominant, potentially guiding the price towards or even beyond the channel's lower boundary, depending on broader market dynamics.
Key Level Insight: An essential level to watch is approximately 0.4703 USD, the 4-hour RSI high, acting as a significant resistance during recent price actions. Additionally, the 4-hour "closed" low at 0.3858 USD and the "low" at 0.35 USD, which was a 50% retracement from the local top, along with some support around 0.4230 USD.
Future Market Outlook: Traders should stay alert for signs of either a continuation of the current downtrend or a potential breakout. A break above the channel's upper boundary could signal a shift back to bullish conditions, while a move below the lower boundary might indicate a deepening of the bearish trend. Notably, the RSI has reset and confirmed a new low, suggesting watching for a break from the established lower high or low structure.
Algorand / USD | Chart & Forecast SummaryKey Indicators On Trade Set Up In General
1. Push Set Up
2. Range Set up
3. Break & Retest Set Up
Notes On Session
# Algorand / USD
- Double Formation
* 0.1650 USD Support Area | Break Out | Subdivision 1
* 012345 | Wave 3)) Ongoing
- Triple Formation
* Pennant Structure At 0.3110 USD | Subdivision 2
* Neckline | Bottom Structure At 0.5000 USD | Subdivision 3
* Trend, Behaviour & Entry
Active Sessions On Relevant Range & Elemented Probabilities;
London(Upwards) - NYC(Downwards)
Conclusion | Trade Plan Execution & Risk Management On Demand;
Overall Consensus | Buy
ALGO Update Lower Time FrameThis is just a zoomed in version of my previous chart to show the lower time frame analysis that I am tracking at the moment. Wave counts are always difficult I think when price is moving so impulsively. However, the most obvious move in all of it is this recent downside flush, which has created a perfect ABC correction. These almost always mark the end of a wave 1 and this is why I have concluded we are in wave 2 of 3 of this impulsive move. My upside target for the end of this run up (which I think is a wave 3 of 5) is somewhere between $5 and $10, with some bumps along the way. My wave count beyond existing price action is purely speculative at present and will likely change...
Is ALGO finished consolidating?Yes, with ALGO we can expect it to feel like it suddenly moons, as this is typical. Historically, ALGO's prices have fluctuated heavily as it climbs so if you are a holder theres nothing to worry about on those dips that we just went through.
You'll see well continue climbing this linreg channel on the 4 hour.
It will continue its steady incline to $1 and then $2. No TA needed there just look at the previous bull runs
For now I'm heading to another traders house for beers and I expect to see at least $0.52 ALGO while sipping them.
