Algo about to ride up and out of the big green bubbleCredit to @awaza who gave me the idea to start using ellipses to analyze trends. It is a highly enjoyable and so far relatively reliable technique.
ALGUSD trade ideas
Putting my crayons to good use with ALGOHave been monitoring ALGO for some time now. Have put my crayons to good use because it seems it is moving in a channel upward. It has left the channel only during the time the whole market dropped to quickly return to the predicted channel.
Can’t say anything about all the fancy Fibonacci stuff. Still learning so bear with me.
Have been able to successfully swing trade this until yesterday. It dropped more than I expected, but it is still in the channel. During this altcoin season ALGO has been very attractive for swing trading. Lots of
Opportunities for 10% profit at least with a 2-1 rewards ratio.
Any feedback is welcome.
Cheers
ALGOUSD SnR Set-upALGOUSD H2 -Up
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Khiwe
At this profile page, the shared analysis, ideas and also, the strategy of a chart belong to Khiwe with some being influenced. The technical set-ups are speculative, they are not guaranteed for accuracy or in completeness in the form of any content; -it is not to advice on financial markets. Please apply your own analysis and confirm it with price action.
ALGOUSD looks promisingALGO support curve indicates it might go up nicely through April. Certainly, the low market cap of Algorand and the positive market sentiment could support such growth.
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This content is just my personal opinion, does not constitute financial or investment advice, and you should not execute any trade based on it. Please do your own research.
One my favourite coins to swing trade! ALGOAs the title says it all. The fluctuation in the price can be frustrating, but we must capitalize on this presented opportunity.
Long term I am Bullish but boy this is a sweet coin to swing trade.
MACD 4HR Chart looks like ALGO could do with a break perhaps, so I have opened a small short position to benefit from this temporary vacation. Shorting is dangerous but works in short term movements hence "short".
Though I don't currently own any 'short shorts' from Elon if you get me ;)
A lot of profit-taking at 1.40$ so it's gonna be hard to break resistance. However, once we do break resistance the pump will be fast and 2$ will seem inevitable.
I will aim to TP around 1.35-1.3$ considering this plays out. Re-entry for a long around the same mark or lower.
Good luck Bulls and Bears (pretty much no bears here but have to be gender inclusive these days)
(disclaimer not financial advice just opinion)
KRAKEN:ALGOUSD
ichimoku trade : long positionbuy position in the next candle of the cadle with the upper close than it's last upper shadow
OR
buy position on senkou B or in the ichimokou cloud
Possible 10-30% Gains on ALGOOverview
- Overall has been making a nice rising structure which has the potential to take off towards the current last high. I spend the hours getting free trade set-ups for USD pairs so you don't have too. Don't miss out and Follow! Let's start from the top!
Price Chart
- 4hr chart with 20/50/200MA's to help indicate future supports and resistances
- Currently, ALGO is respecting the 50MA so this yellow line can be used as a support
- Is possible ALGO is in the last stage of the inverse H&S where it does a small accumulation, and once complete, it could be breaking the green trendline indicating the neckline to send it to higher prices
- If you wanted to be really low-risk you could wait until the price touches the red trendline or if price retouches the 50MA to reduce your risk
RSI
- RSI value looks great as the value is not overbought or oversold so has plenty of room to grow
- Could be forming a symmetrical triangle and once the green resistance line is clearly broken, could indicate that it's breakout time
Stoch
- Stoch value is high but last ATH this value maintained high values so this could be the case here
BTC NOW
- Text explains chart
Extra Info
- Learn about ALGO here: algorand.foundation
- ALGO VOLUME: coinmarketcap.com
If you enjoyed this analysis or learned something new, please LIKE this idea 👍
FOLLOW for free trade set-ups and helpful trading strategies 🏆
Would also like to know your thoughts! Remember this is not financial advice , however, it is an overview of what I am seeing in this coin's price action.
-Happy Trading
MoneyGrind
Big point of resistance at $1.47This is the resistance line we've bounced off 3 times now. If we push though, we're on our way to a new local ATH. or we'll drop and test it again in a day or 2
ALGO -It looks good to go!Decent Re-accumulation cycle will enable this coin to do well over coming days ahead, should granddaddy BTC be kind to us. Just needs to break over this present hold level then it should move nicely. Short term target given. Get out if close below 1.299 hold level. Best wishes.
Will Algo Price Jump Above The $2 BarrierThe weekly technical chart for Algorand showcases a bullish momentum.ALGO price is showing signs of consolidated momentum on coming to the daily chart.Its price is trading above 50 and 100 Moving Average.The 50MA price is at $1.18, making it temporary support for the coin. The coin's resistance on the upside will be at $2.03, and on the downside, it will see a bounce back from $1.02.Algo price is currently inside the accumulation zone on the daily chart.If the price breaks 10% above the parallel channel then a strong bullish momentum upto the point of $2 can be seen.
Kindly comment your thoughts here
ALGO/USD: When not if...battle lines drawn under the golden pocket...when (not if) ALGO breaks $1.50, it will pump hard and fast.
ALGO alt Crypto BOOM?ALGO has seen exponential growth since last year.
I have plotted a few key indicators that allow you to understand the potential growth on this cryptocurrency. We have seen clear retracement on Fibonacci levels which could be used as BUY points. The key support and resistance levels could be plotted by drawing a Pitchfork , that clearly identifies these levels. Support and Resistance on the Pitchfork could be used as BUY and SELL points for swing traders, while HODLers could find more buying opportunities at any current price due to their hopes of exponential increase. The yellow bold line is used as a 'Schiff' line that is plotted using the pitchfork , breaking through this line could mean a break in the trend, we clearly see it bounce off this line.
Trade this alt coin in hopes of exponential growth, but beware, like other alt coins, it is not so STABLE.
This is published only for educational purposes
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Thierry
Leave a comment that is helpful or encouraging. Let's master the markets together
ALGO looking great.Here are some key resistance and support lines. I'll be looking to see if ALGO will hold the blue increased support levels and if it does not, I'll be looking for buy setups around $1.10 or below.
Note the MACD prior to the last massive swing up in February. We seem to be going through a similar pattern through March coming into April hanging around in the .025 to .05 range.
I'm excited for more ALGO action as we get further into this crypto market bull run.
+ this is my first published chart so I'll hopefully improve
ALGO Breaking Out!ALGO over $1.45 resistance can imply a 18% move back to $170 lvl area. The last 10 days has shown a nice rally from $1 lvl back to $1.45. We formed a nice bull pennant on the daily chart and right now looks to be breaking above. I will look to enter over $1.45 for a swing, SL at 1.38.
ALGO channel top once againAlgorand looks to be testing the top of an ascending channel (red dashed lines) once again similarly to how it did at the end of March.
A break here could be a great sign for ALGO as it could signal a new ATH , but there is also bearish divergence forming both on the 4-hour chart (blue lines) as well as on the daily chart . If resistance holds here, it could send the price sub-$1.20 if the bottom of the channel gets tested next. Additionally if channel support fails, it could send the price sub $1.
Ultimately any price changes in BTC could easily influence the direction over the next day, so there is much uncertainty here, but also much potential for the trend to change in either direction. ALGO looks to be interesting to keep an eye on either way over the next few hours/days.
Algorand flipping long term resistance into support, plus cup.Algorand seems to have formed a beautiful cup and is now flipping resistance into support. Long ago the company projected a $2.50 price target for this summer, and the pattern and project is right on track to reach those targets. Very bullish on this coin. Any vets agree/disagree?
