ALGUSD trade ideas
Rise of ALGOALGO was one of the L1 laggards of 2021, along with ATOM. I believe these two play catchup to SOL, AVAX, LUNA, etc. in Q1 2022.
Undercut the local lows for some liquidity and swinging back around into the range. Forming a mini flag and looks like it wants to breakout soon towards $2-2.10 which is the major resistance area.
Given we've already had a failed move, think the probably of success is much greater. New ATHs this month is a real possibility, especially given ATOM is already at the highs and these two see, to mostly trade together (similar charts).
ALGOUSDT UPDATEALGO is trading inside of this ascending channel from a weekly and daily perspective, despite short term bearish market conditions we can still see strong buying pressure. I am very bullish on ALGO for 2022 i believe it could be one of the best performers. Looking for a rally to the top of the ascending channel if prices manages to break above the corrective counter trendline.
ALGO/USD ChartHi, I try to post often so if you could follow and like it would mean a lot to me.
ALGO is very bullish right now and is ready to move towards 2$. The FOMO on the coin is amazing, the 4H and 1D charts are looking amazing.
The coin broke the 1.50$ resistance a few days ago, and after having a bullish retest, the coin looks ready to skyrocket. I don't have to much to say, but right now BTC is moving sideways in between the 45K-48K, and the best way to be profitable right now is in alts that are showing strenght (like ATOM and ALGO).
Please comment what you think and check my recent ideas!
#Algorand #ALGO in a stable 2 day price wedge and room to grow.Algorand (ALGO) still in a stable 2 day price wedge and room to grow.
Enough free space to orange or even red resistance on the RSI .
Attention:
The OBV support (green trendline channel) should not break.
What do yo think 😎
Drop me a nice comment if you'd like me to analyze any other cryptocurrency.
*not financial advice
do your own research before investing
ALGO | AlgorandRed = Daily
Orange = 4hr
Yellow = 1hr
Light blue = 15min
Blue = 5min
Purple = 1min
Untested levels are marked with horizontal ray. Tested levels marked with dotted horizontal ray. Lower rays indicate area's of support and idea's to DCA into a position. Upper levels indicate area's of resistance and idea's to exit positions.
If Algo is to continue its ladder upwards it must hold the thicker 1hr level that intersects with the bottom daily trend. If it fails, I would expect it to fall off the face of the earth. There are a couple untested 1hr levels near the base point of the daily trend. FJB lets go Algo
ALGOUSD D2: 250%+ gains THE BEST Level to BUY/HOLD(SL/TP)(NEW)Why get subbed to me on Tradingview?
-TOP author on TradingView
-2000+ ideas published
-15+ years experience in markets
-Professional chart break downs
-Supply/Demand Zones
-TD9 counts / combo review
-Key S/R levels
-No junk on my charts
-Frequent updates
-Covering FX/crypto/US stocks
-before/after analysis
-24/7 uptime so constant updates
🎁Please hit the like button and
🎁Leave a comment to support our team!
ALGOUSD D2: 250%+ gains THE BEST Level to BUY/HOLD(SL/TP)(NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
🔸 Summary and potential trade setup
::: ALGOUSD D2 chart review
::: updated/revised outlook
::: overall strong chart looks good
::: BULLISH compression pattern
::: focus on buying lower later
::: final swipe lower possible/likely
::: but then expect MASSIVE GAINS
::: chart looks good /strong
::: still valid today / great setup BULLS
::: BULL FLAG setup with massive upside
::: still expecting pullback off the highs
::: get ready to BUY LOW later
::: accumulation in range previously
::: then we had 350% gains PUMP
::: we had 2 pumps already before this
::: 350% pump - pullback
::: then 350% pump and now pullback mode
::: expecting short-term pullback
::: BULLS get ready to BUY after pullback
::: TP bulls is +250% gains later
::: expecting decent gains soon
::: 20-30% pullback short-term
::: recommended strategy: BUY/HOLD after pullback
::: TP BULLS +250% gains
::: SWING TRADE: BUY/HOLD IT
::: bull run not over yet
::: good luck traders!
::: BUY/HOLD and get paid. period.
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment mid-term: BULLS
::: Sentiment short-term: BEARS/PULLBACK
RISK DISCLAIMER:
Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
Algo Failing To Recapture 200 Day MAAlgo is currently fighting to recapture the 200 day MA as well as the .618 fib level. If it doesnt manage to break above both then we could see a drop to the .786 fib level around 1.10. I would wait to take a long position until their is a convincing break above the .618 fib level and 200 day MA.