ALGOUSDTI think if it manages to go back above the resistance it will re-test and fly. But no going in before the re-test
ALGOUSDT trade ideas
ALGO/USDTALGO is currently holding a significant support level following a recent correction, showcasing potential for another upward move. Considering the favorable conditions, exploring a long position in this zone seems promising for a ride towards the next two red zone targets. As always, prioritize effective money management practices and incorporate a strategically placed stop loss.
Identify your entry point thoughtfully and set a well-defined stop loss. Consider taking profits at the first target and, in the event of a strong closure above the initial target, reassess for a potential re-entry. Alternatively, adjusting your stop loss to safeguard your gains is a prudent strategy. Stay proactive and stay informed! #ALGO #TradingStrategies #Crypto
A closer look at the potential of ALGO.People are jumping with joy today as FLARE has made a more than 300% in gains as of late, but when you see what ALGO is about to do, you won't give a second look at FLARE again. Not to put down FLR, I hold a bag myself, but only to use it as a comparison.
Just taking a gander at this chart, even the most rudimentary of assessments come to realize really quickly that there is definitely potential here. Even if the cup & handle formation fails, the chart gives you some really great tips about exit and entry points on long, and short positions.
Enjoy traders, and always use a stop.
ALGO/USDT Downward for retesting phase. Keep on eye the demand!💎 ALGO has been drawing considerable attention in the market lately. Currently, ALGO is on a downward trajectory, heading towards the demand area at 0.1550 for a retesting phase. This move follows a significant breakout and subsequent rejection at the Bearish OB area.
💎 If the retest proves to be valid, ALGO needs to bounce back from this demand level to resume its upward movement, probability reattempting to break out of the Bearish OB area, which is the targeted goal.
💎 However, if ALGO fails to rebound during the retesting phase at the 0.1550 demand level, it could signal a negative trend. A failure to maintain this demand level might indicate a shift back to a bearish trend, with the next potential downward target being the support area.
💎 The support area becomes critical for ALGO's trajectory. A successful bounce and recovery above the 0.1550 demand level are necessary to avoid further declines. If ALGO fails to regain and hold above this level, it could lead to a continued downward movement, possibly reaching lower levels previously seen.
ALGO target 0.41D time frame
-
We are currently gaining almos 60% profit from ALGO since last entry on Jan 27, as below.
-
Furthermore, ALGO is breaking above the neckline of this potential head and shoulders structure, which means here is an opportunity to add positions or set up a new trading plan.
-
TP: 0.4 / 0.45
SL: 0.215
ALGO LOOKS BULLISHOn ALGO, we have a diamond diametric, and it seems that we are now in the E wave of this diametric.
On the green box, it is expected that the F wave will end and we will enter the bullish F wave.
The targets are clear on the chart
Closing a daily candle below the invalidation level will violate the analysis.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
ALGO ready for breakouthi dear trader
this price action for algo withb usdt pair
algo ready for breakout downtrend channel
there are entry and target and stop loss found in this chart
What Is Algorand (ALGO)?
Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are secure, scalable and efficient, all critical properties for effective applications in the real world. Algorand will support computations that require reliable performance guarantees to create new forms of trust.
The Algorand mainnet became live in June 2019, and was able to handle almost 1 million transactions per day as of December 2020. Algorand transaction metrics can be viewed here. Algorand initial coin offering (ICO) was held in June 2019, with the Algorand price of $2.4 per token.
goodluck
ALGO: Resistance BreakoutTrade setup : Price is in an Uptrend. Following a bullish breakout from a Channel Down pattern, price has also broken above $0.20 resistance to signal continuation of uptrend, with + 20% upside potential to $0.24. Stop Loss (SL) at $0.18, just below prior swing low.
Trend : Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance : Nearest Support Zone is $0.17 (previous resistance), then $0.15. The nearest Resistance Zone is $0.20, which it broke, then $0.24.
ALGOUSDT Long-term and Short-term ViewI think ALGO is a great project but I know it has been a frustrating investment journey. I believe we have completed an ABC correction off the launch price and now we are in the first wave of a new impulse to new highs. The target of this wave is the 0.382 retracement (around $1.19) from the B wave, which was a zigzag correction. I think we have completed wave 1 of this first impulse and are entering wave 3, for which the target is around $0.83. It is possible it might not be on the way up yet; price is currently at resistance and there could be more corrective price action before we head higher.
ALGO // Bearish Momentum on 1h // Possible SHORT Technical Analysis Summary:
My technical analysis of ALGOUSDT on the 1-hour timeframe reveals bearish signals with the potential for price decreases. Here are my downside targets:
Target 1: 0.20297
Target 2: 0.20164
Target 3: 0.19857
Supporting Indicators
Relative Strength Index (RSI): Sell signal (42.932)
Stochastic Oscillator (STOCH): Neutral (52.707), but could turn bearish
Stochastic RSI (STOCHRSI): Oversold (0), suggesting a potential bounce before downtrend resumes
Moving Average Convergence Divergence (MACD): Despite a 'Buy' signal (0), the overall trend leans bearish.
Average Directional Index (ADX): Moderate trend (34.361).
Williams %R: Deep in oversold territory (-95.181), potential for a short-term bounce.
Commodity Channel Index (CCI): Strongly negative (-191.269), a bearish sign.
Average True Range (ATR): Low volatility (0.0024) could mean limited price swings.
Contrarian Viewpoint
Potential factors that could challenge the bearish trend include:
Unexpected positive news or a market-wide upward movement
Short covering leading to a temporary price bounce
Important Reminders
Timeframe: Consider longer timeframes for a broader perspective.
Volatility: Be mindful of cryptocurrency market volatility. Utilize stop-loss strategies, especially with short positions.
Fundamentals: Monitor news and events influencing ALGO and the crypto market.
Disclaimer: This analysis is for educational purposes. Trading carries risks. Conduct your own thorough research before making any decisions.
Let's Discuss
Do you see this bearish trend continuing?
What are your thoughts on the potential downside targets?
YOUTUBER METHODThere is this bull flag thingy
at the target there is monthly imb atleast
120% still possible
ALGOUSDTALGOUSDT is in strong bullish trend.
As the market is consistently printing new HHs and HLs.
currently the market is retracing a bit after last HH, which is 50% Fib retracement level and local support as well. if the market successfully sustain this bullish confluence the next leg high could go for new HH.
What you guys think of this idea?
Will Algo/Usdt do a correction?Hello,
We see that Algo/Usdt has made appropriate movements according to the Fibonacci Retracement Levels in the channel it has been in since the beginning of the year. Even though I am on the bulls side in the macro view, it is possible that it will do a correction at least to 0.786 and maybe even 0.618 levels from here.
Short around $0.210 to
TP1: $0.1978
TP2: $0.1887
Cheers,
DECISIONSCrypto needs to build a setup for halving,
it was good YEAR for btc 2023....
ALGO needs a macro HIGHER LOW
ROLL OVERALGO is gon 2 take a dive ,
there surely is some news fabricated for justification reasons
but what are those
momentum down
price action bear
trend down
ALGO USDTEURONEXT:ALGO Update:
A favorable opportunity arises after confirming a breakout from the marked blue zone. It's advisable to use a stop loss for risk management. Always use stop loss. Everything is on the chart.
ALGOUSDT BUYMade a purchase at the spot. Goals on the chart. I will fix it in parts.
#algo #algousdt #algobuy
#algo-usdt#update previous analysis:
The previous wave is finished and diametric,
now,in X wave?
Close by crossing the threshold of 0.203, the pattern will be activated
ALGOUSDT QUICK TRADE - LONG - 15 MIN TFEmissary over here. Short time. Quick trade.
Yellow line entry limit order - 0.2011
Green line take profit - 0.1905
Red line stop loss - 0.2035
Setup will resolve in 2-3 days, maybe 5. No leverage needed.
DYOR, greettings
Leave your support, comment, boost, follow and thank you beforehand.
MMMarket maker had some friday fun,
Shakeout here and there, grab some liquidity xD
Human nature on both sides, best show ever.
ALGO/USDT Main trend. Cycles. 07 2023Logarithm. Time frame 1 week. Main trend.
Linear for clarity. .
Previous closed learning/work idea on this asset. Published 09 2022
ALGO/USD Major trend. Accumulation/distribution
Local trend and this reversal zone is shown in the main trend now.
Price recovery from the recent squeeze. Consolidation and formation of triangle formation. High probability of reversal. First local targets shown.
Destiny It is located in the middle line support of the ascending channel, as well as the four-hour static base support, from the perspective of the harmonic pattern of the butterfly the probability of growth is very high and will grow at the limit of 10%. It is excellent for oscillation
ALGO - Don't Sleep on THIS ALTCOIN 💎Hi Traders, Investors and Speculators of Charts📈📉
Welcome to 2024🥂🥳
And with the new year, we've been focusing on altcoins that have great fundamentals AND great upside potential.
Algorand is a decentralized network built to solve the Blockchain Trilemma of achieving speed, security, and decentralization simultaneously. Launched in June 2019 by computer scientist and MIT professor Silvio Micali, Algorand is a permission less, open-source blockchain network upon which anyone can build. Algorand is designed to be a payments-focused network with rapid transactions and a strong focus on achieving near-instant finality — that means processing over 1,000 transactions per second (TPS) and achieving transaction finality in less than five seconds.
Algorand uses a Proof-of-Stake (PoS) consensus mechanism, and distributes validator rewards to all holders of its native ALGO cryptocurrency. Through strong throughput capacity and equitable community incentivization, Algorand is capable of managing the high-throughput requirements of widespread global usage and a variety of use cases.
As a public smart contract blockchain that relies on staking, Algorand is currently capable of hosting decentralized application (dApp) development and providing scalability. Rising gas fees on Ethereum have led many dApp developers and decentralized finance (DeFi) traders to look for alternative blockchain solutions. Some have turned to Algorand as an Ethereum-alternative for dApp development and DeFi applications.
Algorand is still "in prison", but holding the 50d Moving Averages is the first step towards a new bullish cycle. Look at all of this upside potential:
If you found this content helpful, please remember to hit like and subscribe and never miss a moment in the markets.
_______________________
📢Follow us here on TradingView for daily updates📢
👍Hit like & Follow 👍
CryptoCheck
