Algo in an ascending broadening wedge- bearish distribution formation
- pattern present on the RSI as well
- not the only alt with such a signature
- confirmation of the pattern with a daily close below 0.34 cents with a target roughly 30% lower
ALGO Watch for the next move
#ALGO Price is testing the 0.618 Fibonacci support, setting up for a potential bullish reversal 🐃
Accumulation in this zone could lead to a strong breakout toward key resistance levels 📈
🎯 Target 1: $0.5641
🎯 Target 2: $0.6697
🎯 Target 3: $0.7693
Is ALGORAND going to reach 2.550?Algorand has broken through a key resistance at 0.3300. This signals the start of a new bullish trend on the weekly timeframe. Currently, the price is moving within the buying zone of an Andrews Pitchfork, which presents a potential setup for buyers.
The ideal strategy is to wait for a retracement
ALGO in a bearish flag pattern with a target of $0.22Bearish Flag Pattern
Breaking $0.5 with a strong candle and a daily close will invalidate this scenario.
SPOT ALGO LONG 4.01.2025Pinning after abnormal purchases.
🎯Purpose:
0.5669
I'll let you know when I record it manually.
‼️Risk per trade: 1% of the allocated funds for spot trading.
Thank you!
ALGOFriends, the volume is low, so be cautious and careful. Look for proper volume in breakout areas and wait for a confirmed breakout with solid consolidation before taking buying risks. The two marked zones in this timeframe are crucial.
ALGO Long Spot OpportunityMarket Context:
ALGO has reached a key support level, offering a strong risk-to-reward opportunity for a long spot position. Given current price action, this level could act as a launchpad for a move higher.
Trade Details:
Entry Zone: $0.32 - $0.35 (support area)
Take Profit Targets:
$0.48 - $0.53
ALGOUSDT BEARISHI analyzed ALGOUSDT a few days ago as well, and it was bullish at that time. However, after a significant decline, I believe it may fall again, but probably not sharply.
Note: My ideas are not intended for any type of scalping or scalpers!
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