ALGOUSDT trade ideas
ALGO Short Plan with a few supporting TAOKX:ALGOUSDT
Completeness of Harmonic Pattern with a traditional chart pattern signal.
Break-retest level will be a short plan.
Diagonel support zone which comes from the lowest level of the chart can be a target is also 618 level of the harmonic pattern.
May the force be with you.
ALGOUSDT needs to create a new breakout!BINANCE:ALGOUSDT is currently testing the weekly resistance level at the 0.23 USD area, which is an important level to watch as it has acted as resistance in the past. A breakout above this level could signal a bullish trend continuation, as it would indicate that buyers are willing to push the price higher despite the resistance. Traders may want to wait for a breakout above this level and a retest of this area as new support before considering a long position.
According to Plancton's rules, if there is a breakout above the 0.23 USD area, it would suggest a new long position as it indicates a potential trend reversal to the upside. This rule suggests that traders may want to consider entering a long position in anticipation of a potential price increase.
Overall, the market sentiment for ALGOUSDT appears to be bullish, with the potential for a breakout above the weekly resistance level at the 0.23 USD area.
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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 🦐
ALGO/USDT - Algorand: Resistance_Breakout_Confirmation◳◱ A Resistance Breakout and Confirmation has been detected on the SIX:ALGO / CRYPTOCAP:USDT chart. The price has broken above a key resistance level and has been confirmed by a strong candle, indicating a potential bullish trend. The next resistance key levels are located at 0.2247 | 0.2329 | 0.2501, and the major support zones can be found at 0.2075 | 0.1985 | 0.1813. Consider entering a trade at the current price zone of 0.2313 and targeting higher levels.
◰◲ General info :
▣ Name: Algorand
▣ Rank: 40
▣ Exchanges: Binance, Kucoin, Bybit, Huobipro, Gateio, Mexc
▣ Category/Sector: Infrastructure - Smart Contract Platforms
▣ Overview: Algorand is a scalable, secure, and decentralized digital currency and smart contract platform. Its protocol uses a variation of Proof-of-Stake (PoS) called Pure PoS (PPoS) to secure the network and reach consensus on block production. Unlike other PoS models, PPoS does not reward, nor does it put validator or user funds at risk of being slashed (a loss of funds used to promote honest node and user behavior). Algorand intends to eventually leverage its PPoS design to form the foundation for an on-chain governance system.
◰◲ Technical Metrics :
▣ Mrkt Price: 0.2313 ₮
▣ 24HVol: 12,134,262.215 ₮
▣ 24H Chng: 5.858%
▣ 7-Days Chng: 4.60%
▣ 1-Month Chng: 11.99%
▣ 3-Months Chng: 0.01%
◲◰ Pivot Points - Levels :
◥ Resistance: 0.2247 | 0.2329 | 0.2501
◢ Support: 0.2075 | 0.1985 | 0.1813
◱◳ Indicators recommendation :
▣ Oscillators: BUY
▣ Moving Averages: STRONG_BUY
◰◲ Technical Indicators Summary : STRONG_BUY
◲◰ Sharpe Ratios :
▣ Last 30D: 0.76
▣ Last 90D: 0.54
▣ Last 1-Y: -0.78
▣ Last 3-Y: 0.63
◲◰ Volatility :
▣ Last 30D: 0.90
▣ Last 90D: 0.86
▣ Last 1-Y: 0.95
▣ Last 3-Y: 1.20
◳◰ Market Sentiment Index :
▣ News sentiment score is N/A
▣ Twitter sentiment score is 0.60 - Bullish
▣ Reddit sentiment score is 0.46 - Bearish
▣ In-depth ALGOUSDT technical analysis on Tradingview TA page
▣ What do you think of this analysis? Share your insights and let's discuss in the comments below. Your like, follow and support would be greatly appreciated!
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Please note that the information and publications provided are for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. We encourage you to conduct your own research and consult with a qualified professional before making any financial decisions. The use of the information provided is solely at your own risk.
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ALGO Sell Limit 😎✅😎✅😎Hi dear traders
ALGO moving in flat channel.
The price is retesting the 0.2244 resistance and making a false breakout.
We can see bearish divergence between price and volume.
I expect the price to return to the specified area.
We are trying to take 📈 in short term
Wait for confirmation
All targets specified
Let's see what happens
This is not financial advice (DYOR )
Good luck
ALGO - Road to 2024HTF - We are about to print LL and imo 2023 will start with a Bear Market Rally.
LTF - I dont know, I dont care, I am not good at it. I only SPOT TRADE.
This is my 2nd bear cycle and about to be my 3rd bull cycle,
and if history at least rhymes with the past, then it’s time to accumulate.