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ALGOUSDT trade ideas

Algorand ALGO price is far behind the cryptomarket. When growth?We are often asked to publish an idea for ALGOUSDT, you asked - we did. We look at the chart and see that the ALGO price is still in a downward trend. The only good news is that as of right now, ALGOUSD hasn't updated its lows in a month. Now the ALGOUSDT price has moved into consolidation, so we can hope that the stage of accumulating long positions has begun, and this stage can last for many weeks. As of now, we would definitely not risk buying ALGO with our own funds, as we do not see the strength of buyers and the "desire" for prices to rise. The first ray of hope for ALGO holders may be a breakout of the trend line and a price fix above $0.15. In this case, there will be a chance for continued growth to $0.20 and $0.26 In the long term, we would like to see the ALGOUSDT price reach a strong mirror zone of $0.70-0.80, but we do not know when this will happen and what should provoke such a price increase. _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
21
ALGOUSDT is going to retest the Golden RatioALGOUSDT indicates an interesting development based on Plancton's Rules. After a breakout from a massive falling wedge pattern, ALGOUSDT has displayed a bullish move. The falling wedge pattern is characterized by converging trendlines with a downward slope, often indicating a period of consolidation and decreasing selling pressure. A breakout from this pattern suggests a potential shift in market sentiment towards a bullish bias. Based on Plancton's Rules, there is a possibility that the price may retest the 0.618 Fibonacci level to grab new liquidity. The 0.618 Fibonacci level is a significant level based on Fibonacci retracement, which traders often use as a potential retracement level during an upward move. This retracement can create an opportunity for new market participants to enter long positions and provide additional liquidity to the market. Traders following Plancton's Rules would be monitoring the price action around the 0.618 Fibonacci level and look for signs of a potential bounce or consolidation. This could serve as confirmation to initiate a new long position, anticipating a resumption of the bullish trend. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <= 1h structure. Follow the Shrimp 🦐
by InkyGrip
6
Algo Buy SetupHere Is My Study On Algo Welcome to my channel! Here you'll find daily technical analysis ofthe latest trends in the crypto market. From Bitcoin to altcoins, I'lIl be sharing my insights and predictions to help you make informed decisions about your investments. Follow me for the latest updates and join the conversation in the comments! Crypto technical analysis uses past price history to predict future price. It's not a guarantee and shouldn't be relied on solely for investment decisions. Consider other factors such as market trends, economic strength and information dissemination. Use with caution. This Is Not A Finacial Advise
Long
by MoonTradingForecast
ALGO: Navigating the Ups and Downs of the Algorand JourneyALGO (Algorand) is a blockchain platform that aims to provide a secure and scalable infrastructure for decentralized applications and financial systems. It utilizes a Proof-of-Stake consensus mechanism, ensuring fast transaction processing and high throughput. From a technical analysis perspective, ALGO has been in a solid downtrend since February 7, 2022. The price has encountered major resistance levels as the token continues to experience downward price pressure. Notably, the resistance at 29 cents marked the start of a significant sell-off, resulting in a 69% decrease over a span of 105 days. However, a strong support level has formed around 10.55 cents, and the next expected resistance is projected to be around 12.35 cents. If the resistance is broken and support is established, there is potential for a 10% rally towards 13.70 cents. Taking into account the ROBO advisor sentiment, the daily timeframe is currently bearish, indicating a prevailing downward price action. The sentiment on the 3-hour timeframe is unconfirmed and mixed, while the 45-minute timeframe suggests a bullish bias. Overall, the sentiment surrounding ALGO is currently mixed, with a slight inclination towards bearish price action. However, it is important to note that a potential reversal could be on the horizon, given the mixed signals and the possibility of breaking resistance levels. Please be aware that technical analysis provides insights based on historical price data and indicators, but it does not guarantee future price movements. It is important to conduct thorough research, consider fundamental factors, and employ proper risk management strategies before making any investment decisions. Disclaimer: Cryptocurrency investments carry inherent risks, and it is crucial to exercise caution, seek professional advice, and make informed decisions based on your risk tolerance and financial goals.
by AXiVenture
🚨 Trade Update: ALGO/USDT (3-5x)🚨 Trade Update: ALGO/USDT (3-5x) 📈 Long Entry: 0.1019 - 0.110 OTE (Optimal Trade Entry): 0.1063 SL: 0.0991 B/E Move: When it moves close to TP2 TPs: Short Term: 0.111 - 0.113 - 0.114 - 0.120 - 0.1248 Mid Term: 0.1278 - 0.1299 - 0.1336 - 0.1368 - 0.1406 **Disclaimer: Past profits do not guarantee future results. Is there a risk? Of course. The whole financial market is subject to risk; any fundamental reason or sudden change in the market sentiment can reverse the current market dynamic and cause a loss. Do not take excessive risks which you cannot afford to lose. There is no obligation to take this trade; please avoid the trade if you disagree with the trade analysis. EDK FORUM TRADING®
Long
by GISTRADINGLLC
4