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ALGOUSD trade ideas

Algorand Channel Identified? 👀👀👀Over the last few days I’ve been watching Algorand. Of the alt-coins out there, this is definitely one of the most promising projects you should be watching. Pure Proof of Stake rewards is a great factor to buy and hold - especially if you are utilizing the Coinbase app where a poor entry can still be profitable if you hold for an extended amount of time. More specifically to this chart, if you are an aspiring crypto day trader, this coin presents a comparatively safe bet versus other similar coins such as Cosmos (ATOM) and Tezos (XTZ). A good entry appears to be at between 1.20-1.30, with upsides regularly returning to 1.50 and even up to 1.70 if you are patient. The next few weeks may shake out a new trend, especially with Algorand’s ‘Carbon Neutral’ sentiment, where in a Post Tesla/Bitcoin split market we may see Pure proof of stake (PPoS) based currencies take over energy drainer PoW coins such as Bitcoin (BTC).
COINBASE:ALGOUSDLong
by IbexiSterlinfa
$ALGO. Looking to enter a long term position.This seems like one of the more stable investments in the crypto space to me. It's got a lot of interest, and I think a lot of bargain hunters probably have it on their radar. Will there ever be a major catalyst and we see it hit 5$? I'm not so sure, but it's good to have the attention. To me this is a pretty solid investment, and I would hope to see at least 100% return within the year. Maybe more if crypto can stay hot through the summer. Some small portion of my portfolio will probably become ALGO in the near future. Crypto has been a really off and on market until the recent bitcoin run. Is bitcoin overpriced? Last time we thought so we were dead wrong. So is it here to stay this time?
KRAKEN:ALGOUSDLong
by emehoke
2
Crypto Market crash over? BUY THE DIP!Yesterday evening, just as the crypto market day was coming to an end with some bullish momentum, an unexpected tweet from Elon Musk, CEO of Tesla and SpaceX, caused the crypto market to crash the hardest and fastest in the shortest time. This caught most investors off guard and many crypto traders have had a really bad day today. But what if I told you that I am actually closing today on a BULLISH note. My crypto portfolio has gained about 10% today. Now as hard as you think that might be or as lucky as you think I am, I am here to tell you that it really takes nothing much. I will explain it briefly but effectively below. The most important steps to gaining on any day and especially CRASHES are quiet simple, some of the most important steps are: - Diversifying your portfolio into many different crypto coins, but only coins that are known to be somewhat stable OR move in a correlation with Bitcoin. The variety of the coins you choose are up to you, but I have previously posted a few Alt coins that I trade. More to come soon! - If you are trading with or without specific budget, always make sure to keep enough extra cash to buy the dip. Buying the lows can actually help recover losses quicker and allows you to aim for higher profits overtime. - I personally believe that the following RULE is the Golden Rule and should never be broken. Most beginners do not have enough experience and do not know how to properly deal with profits. The most important thing a trader can do before investing is set a specific target they want to reach before starting. Speaking from experience, not having a specific target can ultimately make you hungrier for more, leaving you paralyzed and unable to hit the sell button, hungry for more. This can be disastrous as when the market quickly rises, a quick drop is inevitable, stay aware of your goals and follow them. - Do Not let FOMO eat you up, FOMO: Fear of missing out The very best traders always miss out on opportunities. It is very important to understand that you will not be able to grab 1% of all opportunities in the market. The most important thing to focus on is to make the most of the opportunities in life. I hope you found this helpful, a like would really be appreciated. I will not suggest following me because you should be intelligent enough to know that following me is the right choice. I post daily content on crypto and stocks !
COINBASE:ALGOUSDLong
by TraderThierry
2
LONG $ALGO - CHEAP DECENTRALIZED PROOF-OF-STACK BLOCKCHAINI really think this coin will be a game changer in the proof of stake world. Currently it only has over 0.5% of volume on Coinbase so it has a lot of room for growth, especially with the 6% APY with no stake locking. Its traded on multiple exchanges with USD on ramps and while Ethereum has problems with high fees I think this is a great alternative. People are running to crypto because of inflation and how money is controlled so I would bet people will enjoy Algorand for its fast transaction speed and great APY return. DYOR
COINBASE:ALGOUSDLong
by SeanCookie
1
Bullish Scenario for ALGOHey guys, I present the linear chart this time instead of the logarithmic just to change it up. Looking at the chart we can see we are stuck in this triangular formation touching the 100 day EMA each time (Except one outlier). We have finished wave and ABC correction on the longer time frame (Blue and yellow markings). We are looking for that longer wave 5 move which i think will follow this ABCDE breakout (Orange markings) and smaller 12345 Elliot wave pattern (Green Markings) within the triangle (Just a rough placement for E, don't take to heart). There is a small chance we revisit the lower part of the triangle after wave E however we would be nearing the end of this financial year and I'm expecting a push to the upside just before financial year end, hence i thin it's more likely to continue pushing up from wave E. Once we break the triangular formation a push up to the yearly high of approx. $1.85 (marked by pink line) would fulfil the smaller timeframe wave 3 (green). From this point it is more speculation, but we could see a retest of the triangle formation four the wave 4 of the smaller time frame Elliot wave, or we could push past this point for an extended wave 3... Targets for the 5th wave (Green and Yellow) start at $2.30 and work up to $4.80, however i'll be adjusting targets the closer we get to finishing this triangular breakout. See please don't take these to heart. Still expecting this daily Elliot wave count to finish before the end of financial year. Enjoy the staking and patience will be rewarded. Thanks
COINBASE:ALGOUSD
by dp4379
1
#ALGOUSD #ALGOUSDT ://my first crypto love... what to do wit ui could see algo dropn as low as 1.20 or runn'n up to 1.65 plus so thats means sit on my hands n maybe buy some more if she dips... remember to buy algo and stake in algo wallet u hold the keys to n earn 15 to 20 plus apy she will go hard soon so get in while she is still realitivly unknown the crypto market as a whole is cooling off but i doubt we will see redonkuless dumps at least not in quality projects. _ at least for the next bit unless we really see the market dump this week which is beciming less n less likely as people ape around with their new Millions from dog n meme money.... lets see what happens This is why I like projects that in general are always adapting, upgrading, n just generally trying to evolve with this ever advancing crypto ecosystem. As layer 2 gains momentum and gets built out_ more n more user friendly esp cross chain swaps etc etc (see clover) We look for projects that seem to keep up. By this I mean when ZKswap n matic n Binance smart chain n any other layer 2 or cheep gas solution pops up look to see what tokens or alts are getting liquidity to these trading pairs on these newer cheep to free swap eco systems. When ZKSWAP started doing its thing the first tokens you could trade in ie liquidity there to swap without massive slippage (ie loosing 5 to 90 percent on swap depending on liquidity situation and size off swap) where UNISWAP_UNI AAVE SUSHI SNX AAVE REN then we saw OKB HT MKR YFI BADGER LRC MASK DODO N WAITING ON GT CREAM ALPHA RUNE LINK BNB N MOST RECENTLY AKITA SHIB As we try to get away from alts over these next few months and more and more back to eth n btc adding to our algo ada cel swap avax aave etc bags leave and stake stuff is ideal ALGO in algo wallet being my fav SAKESWAP is trying to be a AMM DAO type futures platform on the BINANCE smart chain DOT has an event on the 19th with KSM n in general this new project called PINK NODE that is supposed to be able to help organize luiquidy and alowe these parachains to talk and work together AVAX or AVALANCH is making stable coin real world moves into the crucial under repp’d fiat on n off ramps like paypall and everything they work with n own. Look for an avax usa backed stable coin built on the avax blockchain _if not them than maybe ALGO would be my other guess. ADA or CARDONA is going to really push this next year esp next few months… there is an oracle project (LINK for ADA blockchain) called CHARLI3 or C3 _card starter or CARD is a project launch pad _OCCIM FI a fundraising and bridge to get liquidity back n forth from Ethereum and Cardano eco system. YFI and the dark wizard team is at it again with their WOOFY protocol it turns 1 YFI into 1 million woofy coins DOG meme x BLUE CHIP defi YFI n BOOM _want to look into their projects asap like Fantom wallet token etc is super interesting and I believe ties their “suite” of crypto platforms together Altcoin Season Index: Is it Altseason right now? (blockchaincenter.net) 🌈 Bitcoin Rainbow Chart (Live) - Blockchaincenter
COINBASE:ALGOUSDLong
by HustleGrindMomentum
5
Algorand (ALGO) - May 12Hello? Dear traders, nice to meet you. By "following" you can always get new information quickly. Please also click "Like". Have a good day. ------------------------------------- (ALGOUSD 1W chart) (1D chart) We should watch for movements that deviate from the 1.32179365-1.72007755 section between around 11th and 16th May. In particular, it remains to be seen if it can rise above the 1.47009413 point. If it falls at the 1.18903235 point, a Stop Loss is needed to preserve the profit and loss. -------------------------------------- (ALGOBTC 1W chart) (1D chart) 2374 Satoshi-2792 We must watch for any movement that deviates from the Satoshi section. In particular, it remains to be seen if it can rise along the uptrend line. If you fall from the 2374 Satoshi point, you can touch the 1970 Satoshi point, so you need to trade carefully. -------------------------------------- It is advisable to trade at your average unit price. This is because if the price flows below your average unit price, which was on an uptrend or downtrend, there is a high possibility that you will not be able to earn a large profit due to the psychological burden. The center of every trade starts with the average unit price 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, so that the money that ultimately corresponds to the profit can regenerate the profit. -------------------------------------------------- ------------------------------------------- ** 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)
BINANCE:ALGOUSD
by readCrypto
Support Failed, What Happens Next? ALGO blew right through the support on the retest. After a brief drop down to $1.31, the price has stabilized and returned to around its 1-month average price. Now, we either see a breakout above the previous support and look for a buy setup on the retest or we bounce back down to a lower support level . Given the average price over the past 30 days is $1.38-$1. 40 , I am thinking this might be a good entry point. There needs to be confirmation of strong support if/when the price drops back down to $1. 40 and it will give ALGO a chance to take off.
COINBASE:ALGOUSDLong
by benjo93
How High Will ALGO Go?There needs to be a solid closed candle above the resistance zone and then a retest to confirm a potential spike to the higher levels around $2.00 - $2.50 The trend is overall bullish and the 1-Day MACD helps to confirm this idea. There is a lot of momentum building in the crypto space and this could be the beginning of the next big leg up. ALGO just needs to breakout soon! Let me know what you think of the analysis and I'd love to hear some critiques and feedback!
COINBASE:ALGOUSDLong
by benjo93