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ALGUSD trade ideas

Algorand is going higher [Signal #1 in Defi Series]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 permissionless and 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 and achieving transaction finality in less than five seconds. Algorand uses a Proof-of-Stake 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, with some turning to Algorand as an Ethereum-alternative for dApp development and DeFi applications. Algorand also allows developers to use the Algorand Standard Asset (ASA) protocol to create new tokens or to transfer existing tokens to the Algorand ecosystem. For example, stablecoins like USDT and USDC also exist as ASAs on the Algorand blockchain and enjoy much higher throughput and much lower transaction fees than what is typical on Ethereum. Further, as central banks continue to research networks to host their central bank digital currencies (CBDCs), Algorand has become a viable option and has been chosen to host the Marshall Islands CBDC. Learn more about it at www.algorand.com ~ cryptowinger.com AI-Based Crypto Portfolio Management ( Coming Soon)
COINBASE:ALGOUSDLong
by crypto_winger
Been slowed down Stop in action at the touch of 2.5580 Expecting a retracement to 1.6, and more testing of 2.5580 still. Demand has been strong, so I do keep a buying bias on the long-term, but some reaccumulating could happen first to make a break 2.5588 Having it consolidate under between it and 1.60 needing to build a cause to keep unfolding. Could also regain strength and only dance on the 1.92 area before going up again. But on the 4 hours as well the selling interest have been showing more it's nose in the last 8 hours Move back down under 1.92 would give more confirmation retracing movement started happening. Monthly Weekly Daily Yesterday close ended on increasing maintained demand with a weak candle, which is signs of important selling interest at the resistance.
COINBASE:ALGOUSD
by bibsz
1
ALGO/USD WYCKOFF REACCUMULATION!Hello my beautiful traders. I think ALGO might be very close to exploding beyond its range. I will take a long position once it has broken above the range evidenced in red and retested it. The desired area is the one in green. If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair. Consider supporting me on PayPal if you think I am providing you with value. Peace. Luca, TrickleDownFX
COINBASE:ALGOUSDLong
by TrickleDownFX
ALGO - The Beast Is Awakened!Algorand, or what I called " the sleeping giant " is finally awakened. As per my previous analysis (attached below), we have been waiting for a confirmation to buy ALGO around the support 0.700 ALGO activated the buy and traded higher aggressively . This movement reminded me of FTM and how its parabolic movement started. NOW WHAT? ALGO broke above the 1.8 - 2.0 resistance zone so it is now acting as support and we will be looking for buy setups on its retest. Our next rejection / resistance area would be 2.8 - 3.0. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BINANCE:ALGOUSDLong
by TheSignalyst
22