COIN NAME : #ALGO/USDT
SIGNAL TYPE : LONG
I can see this chart showcases Algorand (ALGO/USDT) on a 4-hour timeframe, illustrating a rising wedge pattern. The price is approaching a potential breakout point ๐, supported by the ascending trendline (white line) but faces resistance at the horizontal level around $0.42 (orange line).
chart shows the crypto market cap excluding the top 10 assets on the 4-hour timeframe. The price is consolidating in a rising wedge pattern ๐บ, which typically signals a potential breakout.The EMA ribbon is providing dynamic resistance ๐งต, indicating bearish pressure in the short term.Thereโs a support zone (blue box) around $350B, where buyers may step in for a rebound. ๐ก๏ธRSI is recovering from oversold levels ๐, hinting at potential bullish momentum.
Scenario 1: A breakout above the wedge could target higher levels, resuming the uptrend ๐.
Scenario 2: A breakdown to the support zone may offer a buying opportunity ๐.
Momentum confirmation is crucial before entry! ๐ง
chart represents the ALGO/USDT liquidation heatmap on Binance over a 48-hour timeframe ๐. It shows price movements and liquidity concentrations using colored zones. Yellow and green areas indicate high liquidation zones ๐, where traders with leverage are likely getting liquidated.Purple zones suggest low activity areas.
Trade Details:
Entry : Around .0.42 ๐ ( Join my Binance live for premium crypto signals )
1st TP : 0.46
2nd tp: 0.50
$ALGO
SL : 0.36 (below wedge support) โ
Important ๐
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