Long-TermAltcoin season will be soon
Algo is at a 95% discount from ATH
Hold for 1-2 years
Following History when BTC moves Altcoins follow
ALGOUSDT.P trade ideas
ALGORAND CORRELATING CLOSELY WITH CHAINLINK
Very similar to Chainlink (although major ALTS are correlating very well now)but I believe more on total fall for deeper retracement for a primary degree wave 2 for BINANCE:ALGOUSDT than BINANCE:LINKUSDT (see link chart below).
OTHER ANALYSIS
ALGORAND SETS TO JOIN THE BULLRUN BUT AFTER 20% NUKE
BINANCE:ALGOUSDT shows a classical Head & Shoulder Pattern but as an Elliott Wave Trader I see it as a potential Truncated Head & Shoulder and wave 2 about to end.
When this wave 2 ends I am expecting ALGORAND to begin it bullish run for the ALT SEASON. At least a x2-5 200 - 500% is guaranteed.
Entry is anywhere in between the box and the 618 to 786% Fibonacci level while the invalidation level is at the ALL TIME LOW and the first target is $0.456 presenting us with a 6 Risk Reward Ratio.
Remember the PSYCHOLOGY behind this incoming bull run as I have explained before. now many traders are frustrated as much as the bulls and the bears are confused but as price keeps going down the bears will affirm their bias and the bulls hope will begin to shift to being bears just like when BINANCE:BTCUSDT was at 16k and then boom.
PREVIOUS ANALYSIS
OTHER ANALYSIS
BINANCE:ADAUSDT
BINANCE:PIXELUSDT
BINANCE:APEUSDT
BINANCE:NOTUSDT
BINANCE:PEPEUSDT
Long signal for ALGO/USDTThis technical analysis is based on the daily chart of ALGO/USDT on the Binance exchange. This analysis draws two price channels and evaluates support and resistance levels.
Price Channel Analysis:
The previous bearish channel is broken out, and a bullish channel is formed.
The suggested entry point is around 0.1803 USDT.
Entry and Exit Points:
Entry: 0.1803 USDT
Take Profit: 0.2532 USDT (40.43%)
Stop Loss: 0.1659 USDT (8.00%)
R/R Ratio: 5.05
Conclusion:
This analysis suggests that by adhering to the specified take profit and stop loss levels, a successful trade can be achieved. The Reward/Risk Ratio for this trade is approximately 5.05, indicating a highly favorable risk-to-reward scenario. To manage risk effectively, it is recommended to strictly follow the stop loss level.
$algo not taking this trade but a good swing if anyone fancies
thin blue line is our invalidation allow for a wee deviation and let it run till Christmas imho
considering 80% of the spot algo fam is underwater will have a lot of levels to flip for new ath
on the flip side algo whales have been accumulating for a while so ...
Algousdt Buy opportunityAlgousdt is currently exhibiting a potential cup and handle reversal pattern following a significant drop.
This pattern suggests a forthcoming bullish trend for the coin. The designated buyback zone presents an attractive opportunity for purchasing, with expected targets highlighted on the chart.
It is advisable to set the stop loss below the handle area to mitigate risks.
We invite you to share your thoughts and comments on this analysis.
Your input is valued.
Analysis of ALGOUSDT currency in the 4-hour time frame for shortALGOUSDT currency analysis in the 4-hour time frame ,which seems to be suitable for short trading
ALGO/USDT Ready for 500% upward Move?EURONEXT:ALGO Inverted H&S Pattern:
1⃣ After Breakout = 250% Potential
2⃣ RH Support = 500%
3⃣ Exit = Below Support
#algorand #ALGO
ALGOUSDT1. Profit taking strategy on ALGO.
2. Important to increase your selling as price gets more aggressive on the trend.
3. Note this just my initial plan. You can have more aggressive or conservative approach.
4. This plan is subject to change depending how alt season goes this just what I see for now.
Higher lowPossible Higher low in the making on weekly, atleast a dump,
Now we need news, somekind of war story
ALGO/USDTI am very bullish based on the chart and the news that will come about algos during the European Championship
ALGORAND/USDT Possible trend reversalIt looks like Algorand will go up after a long sideways trend. This is evidenced by the volumes and consolidation after recent major purchases. Without further ado, a breakout of the lower line means greater downside potential, and a breakout of the upper line means potential upside. Algorand is currently at a great price to risk a larger purchase, I don't expect it to fall much lower, and you can also hold it and multiply it using stacking. In my opinion, 0.17 is a great price for this coin, and we have the potential to increase up to $1 in a short period of time.
ALGO can grow more after the triangle breakoutALGO can grow more after the triangle breakout
From our previous analysis ALGO reached two of the targets.
SO far the price completed a bullish triangle and already broke out during the BTC bullish wave.
The pattern looks really good and this breakout is showing for the presence of the bulls joining the market.
ALGO may rise up to 0.200 and 0.2100 as shown in the chart.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
ALGOUSDT - harmonic patternhi Traders,
ALGOUSDT looks similar to many altcoins.
Potential harmonic pattern forming. Bearish bat pattern.
Price is in the low-risk area so it's still a good time to buy ALGO now.
Target: 0.30$ - 0,31$
Expecting this move to occur within the next couple of weeks.
Good luck
ALGO: Bullish Bat PatternALGO: Bullish Bat Pattern
Algo completed a bullish BAT pattern signaling a possible correction or a change in trend.
What is important is that in both ways the pattern is signaling for a possible bullish wave.
Considering that the price reacted perfectly after the pattern was completed this is adding the chances for a clear bullish movement.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
ALGOUSDT 1WAccumulate some #ALGO. The inverse Head & Shoulder pattern is still valid on the weekly chart. Targets are:
$0.2689
$0.2920
$0.3271
$0.4752
$0.5949
$0.7145
ALGOUSDT - Looks for Reversal and Entry Plan Stretegy
1) Bearish trendline is broken
2) Bullish Divergence has broken.
3) Break LH and made new HH
Entry Plan Strategy : If Price move above 0.183 and break this range price, we can expect another HH
ALGO/USDT Gathering Momentum to Breach Descending Resistance👀🚀💎Paradisers, a golden opportunity is knocking with #Algorand! Currently, there's a significant chance for a bullish reversal from the pivotal support at $0.1563. If #ALGO can hold steady at this level, it may signal the beginning of a bullish surge, potentially breaking through the descending resistance to reach our projected strong resistance area.
💎If #Algorand fails to rise from the $0.1563 support and instead dips below, we could be seeing the start of a more extended downtrend. The next essential demand zone at $0.145 has historically triggered notable bullish reactions due to substantial trading volume and liquidity.
💎If #ALGO tests this demand zone once more, it’s imperative that it recovers. Failure to do so could amplify bearish trends and sour market sentiment, potentially pushing prices down even further.
💎Stay sharp and agile, Paradisers. The current market conditions for #ALGO demand our attention and readiness to pivot strategies swiftly.
ALGO: Approaching ResistanceTrade setup : Trends are mixed to down. Price has broken out of a Channel Down pattern but it’s now approaching a stiff resistance area: horizontal resistance of $0.20 and 200-day Moving Average. If it breaks above that, it would signal resumption of uptrend and upside potential to $0.25.
Trend : Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral).
Support and Resistance : Nearest Support Zone is $0.15, then $0.12. The nearest Resistance Zone is $0.20, then $0.25 and $0.30.
ALGOUSD 1WALGO ~ 1W
#ALGO Forming a H&S Pattern on a 1W Time Frame. It's quite interesting to place small purchases here, with a target of at least 20%+
ALGO: Channel Down BreakoutTrade setup : Trends are mixed to down. Price has broken out of a Channel Down pattern but it’s now retesting that breakout level. If successful, price could revisit $0.22. Stop Loss (SL) level at $0.175.
Pattern : Price was trading in a Channel Down pattern. With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout. Learn to trade chart patterns in Lesson 8.
Trend : Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance : Nearest Support Zone is $0.15, then $0.12. The nearest Resistance Zone is $0.20, then $0.25 and $0.30.
ALGO Stuck in the rangeALGORAND is stuck in this range after a weak break abive the main bearish trendline. Range can be good, because usually is an accumulation zone. We just need to wait for a break above this range to see a pump till the local top that is the first resistance zone
