🚨 ALERT: $ALGO Testing Critical Support Levels – Watch Closely! 🚨
$ALGO is trading at $0.5116, down 15.06%, following a drop from its 24-hour high of $0.6029. The price is approaching crucial support zones, signaling a potential rebound or further correction.
Key Levels to Watch
1. Resistance Level 1: $0.5200 (EMA 7)
A recovery above this level could trigger a short-term bullish move.
2. Resistance Level 2: $0.5500
Surpassing this zone would indicate a shift toward renewed upward momentum.
3. Ultimate Resistance: $0.6139 (Recent High)
Reaching this level confirms a strong reversal and extended bullish sentiment.
Support Levels
Support Level 1: $0.5050 (24h Low)
Holding this level is essential to avoid further downside pressure.
Support Level 2: $0.4907 (EMA 25)
A break below this could open the path for a deeper correction toward $0.4500.
Trade Setup
Long Entry: Above $0.5200, targeting $0.5500 and $0.6139.
Short Entry: Below $0.5050, aiming for $0.4907 and $0.4500.
Stop Loss: Place at $0.4980 to minimize risk.
ALGO is at a decisive point, and traders should prepare for potential volatility. Keep an eye on these levels for actionable opportunities!