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ALGOUSD trade ideas

$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
ALGO +100% by March 2022 $4.25We can see in this technical analisys that ALGO is repeating its moves every 192 days. This would be the 5th time it is repating this. So, what is this chart telling us? You could see, on my previous update y that the flag was perfectly executed on the preditid time. We can see now that besides ALGO jumped 15% these past days it is in accumulation proccess, and those are just sign of strength. Collect gold nuggets! There is not point to have your money sleeping there during the rest of the accumulation proccess or flag formation. You can use it for other projects in between, unless you decide to buy and leave it as a investment. As a trader I would recommend you to buy at the next dip or just at the resistance level before the break out. This could be even at $2.20. You would still double your money in a short period of time. There is a big fight between protocols since ETH sky rocketted. Every one is looking for the new "cheap" aquivalent ETH projects. Money is going to SOL, AVAX, ALGO, and many others. DeFis are stuck at due to this fight and last month BTC dominance. Despite all of this, news and toke updates..., charts talk by themselves. I timed ALGO as you can see in the chart. 5 consecutive periods of aprox 192 days. I hope this help you the get richer. Apprecite the hard work by pressing like and feel happy to follow for updates. Happy trading, Raf
BINANCE:ALGOUSDLong
by Cryptplosive
1
ALGO doing the move ? ALGO seem to be breaking out of his triangle but i would stay cautious as long as we don't have a daily above 2.05$. If it does close above then the plan would be to buy any retest of 1.95$ and target 2.5$ as 1st TP which would be what i would play since MACD daily is turning bullish. If it close under then we would need to rethink the upper trendline of the pattern perhaps and exclude the price action of 10 to 12th september which is missleading. Ideally we want a daily close at 2.1$ so both trendline would become potential support combine with the current resistance area 1.95$/2.05$ Let's see how this will play out
BINANCE:ALGOUSDLong
by Heatrading
ALGO We are currently re-accumulating and holding the 61.8 of the previous swing high/low on the FIB retracement. I expect a 100% as first TP for this trade once ETH starts to slow down. We must analyze and keep and eye on the higher lows printing. ON lower timeframes we are reaccumulating and are currently holding at the creek level. just showing many are holding their money which is a great sign. Algo announced new NFTs in their ecosystem 4 days ago. I expect this to be a huge move that can end at 10 dollars by the end of next year. Or, it can pull a Solana, lets see what the market blesses us with . Any lower prices are meant to get bought up to accumulate coins before we get the money coming in from bigger buyers. Holding from 89 cents. 10 dollars TP will be the first sign of looking to start limiting.
COINBASE:ALGOUSDLong
by BLKopalFX
ALGORAND against USD POS coinstaking, staking and staking!! the creator Silvio Micali is a professor of computer science at the Massachusetts Institute of Technology, and the founder of Algorand. He is a recipient of the Turing Award (in 2012) for his fundamental contributions to the theory and practice of secure two-party computation, electronic cash, cryptocurrencies and blockchain protocols. This makes him one of the foremost creators of crypto in the world. Rank #20 Coin On 373,858 watchlists Algorand Price (ALGO) $1.86 0.85% 0.00003044 BTC1.29% 0.0004137 ETH0.66%
BITSTAMP:ALGOUSD
by doqstrader
$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