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Algorand / TetherUS

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ALGOUSDT trade ideas

ALGO/USDT MAY 2024It's been a while since our last chart update, but now is a great time to analyze some long-term patterns in altcoins. We still have a few spot trades open, and ALGO looks particularly promising with its potential for significant profits. Currently, ALGO is showing an accumulation phase, which could lead to massive gains if it maintains the inverse head and shoulders pattern it's forming. The right shoulder is still in progress, indicating potential upward momentum. Exit Targets: First Target: $0.29 area Second Target: $0.45 area Keep an eye on the low of the right shoulder at $0.15, as this level would invalidate the pattern. As always, ensure your money management strategies are in place. Happy trading!
Long
by Seahawks_
1
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
by DewyCandles
9
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.
Long
by QuantCT
1
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.
Long
by weslad
5
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.
Long
by cryptodailyuk
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❤️
Long
by KlejdiCuni
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❤️
Long
by KlejdiCuni
5
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.
Long
by MyCryptoParadise_Simon
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.
Long
by altFINS