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$ALGO 📉 Algorand (ALGO/USDT) - Bearish Trend Analysis & Trade Setup 🔥

🔍 Market Overview (1H Chart Analysis)
💰 Current Price: $0.287 🔄
📉 Trend: Bearish
📍 Resistance Levels: $0.290 - $0.294
📍 Support Levels: $0.280 - $0.275

⏳ Expected Trade Duration: 2H - 6H

📊 Technical Indicators & Chart Pattern Analysis:

✅ RSI (39.22) - Bearish zone, indicating downward momentum
✅ DMI/ADX: Red line above green, confirming strong bearish trend 📊
✅ Volume Analysis: Increasing sell pressure, supporting further downside movement

📌 View According to Chart Pattern Analysis:

Price is testing support at $0.287. A breakdown could trigger more selling pressure.

Resistance at $0.290 needs to be reclaimed for a bullish reversal.

Trend Confirmation: Bearish 📉 unless price reclaims $0.292.

📌 Final Trend Signal: Bearish Bias 📉 (Watch for breakdown of $0.280 for further downside)

📌 Trade Setup & Key Levels 🎯

📉 Bearish Scenario - Short Setup:

Entry Price: $0.288 - $0.290 (If resistance holds)

Stop Loss: $0.294 (Above resistance)

Take Profit 1: $0.280

Take Profit 2: $0.275

Take Profit 3: $0.270
✅ Risk-Reward Ratio: 1:2+ (High probability short trade setup)

📈 Bullish Reversal Scenario (If Trend Changes):

Entry Price: Above $0.292

Stop Loss: $0.288

Target 1: $0.295

Target 2: $0.300

📢 Final Thoughts (Based on Chart Analysis):

✅ Bearish trend is strong unless price reclaims $0.292 📉
✅ Breakdown of $0.280 could lead to a deeper correction
✅ Short traders should look for rejection near resistance before entering trades

🚀 Want real-time trade updates? Follow now! 💰📊

📢 Stay updated with daily crypto insights!

🚨 Disclaimer: This is not financial advice. Trade responsibly! 🚨
#ALGOUSDT 📊 #CryptoTrading 🚀 #TechnicalAnalysis 📉 #Binance #BinanceAlphaAlert

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            ALGO to EUR:
            1 Algorand equals €0.28243 EUR-0.92%1D
            ALGO to EUR:
            1 Algorand equals €0.28243 EUR-0.92%1D
            Page last updated: 2025-02-13 20:24 (UTC+0)
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            Note: This information is for reference only.

            Price of ALGO today

            The live price of Algorand is €0.28243 per (ALGO / EUR) with a current market cap of €2.38B EUR. 24-hour trading volume is €133.52M EUR. ALGO to EUR price is updated in real-time. Algorand is -0.92% in the last 24 hours with a circulating supply of 8.43B.
            ALGO Price History EUR
            Date ComparisonAmount Change% Change
            Today€-0.002617-0.92%
            30 Days€-0.071045-20.10%
            60 Days€-0.122893-30.32%
            90 Days€0.109818+63.62%

            ALGO Market Information

            24h Low & High
            Low: €0.273609
            High: €0.293844
            The highest and lowest price paid for this asset in 24 hours.
            All Time High
            €3.138475
            The highest price paid for this asset since it was launched or listed.
            Price Change (1h)
            -0.47%
            The percentage change in price for this asset compared to 1 hour ago.
            Price Change (24h)
            -0.92%
            The percentage change in price for this asset compared to 24 hours ago.
            Price Change (7d)
            +9.54%
            The percentage change in price for this asset compared to 7 days ago.

            ALGO Market Information

            Popularity
            #43
            Popularity is based on the relative market cap of assets.
            Market Cap
            €2.38B
            Market cap is calculated by multiplying the asset's circulating supply with its current price.
            Volume (24hours)
            €133.52M
            The total dollar value of all transactions for this asset over the past 24 hours.
            Circulation Supply
            8.43B
            84.34%
            The number of coins circulating in the market and available to the public for trading, similar to publicly traded shares on the stock market.
            Total Maximum Supply
            10.00B
            The total number of coins that will ever be created for the cryptocurrency, similar to fully diluted shares in the stock market. If this data is not provided or verified by CoinMarketCap, the maximum supply is displayed as '--'.
            Fully Diluted Market Cap
            €2.82B
            The total number of coins that will ever be created for the cryptocurrency, similar to fully diluted shares in the stock market. If this data is not provided or verified by CoinMarketCap, the maximum supply is displayed as '--'.
            Issue Date
            2019-06-20

            What Can You Do With Algorand (ALGO)?

            Explore how to use your cryptocurrencies with Binance.

            About Algorand (ALGO)

            Algorand is a blockchain founded in 2017 by Professor Silvio Micali, a computer scientist from MIT. Its mainnet went live in June 2019 along with the launch of its native cryptocurrency, ALGO. The blockchain aims to improve the scalability problems of older blockchains while supporting smart contracts. Algorand's blockchain is decentralized and public with a Pure Proof-of-Stake blockchain. You can also use Algorand to create customized layer-1 blockchains. 

            The blockchain's Pure Proof of Stake consensus mechanism helps decentralize the power seen in traditional Proof of Stake models. Anyone who wants to take part and stakes (even small amounts) has the chance to be randomly selected as a validator or block proposer.

            ALGO is Algorand's native coin with a maximum total supply of 10 billion. The project aims to have the supply fully distributed by the end of 2030. You can earn ALGO by holding at least 1 ALGO in a non-custodial wallet. This occurs whenever a new block is successfully added, and you can expect roughly 5-8% APY. ALGO is a popular coin to hold for investors who want to make returns passively without needing to stake the coin. You can also use the coin to pay network transaction fees and staking when generating consensus.


            People Also Ask: Other Questions About Algorand (ALGO)

            1. Where to buy ALGO?

              You can purchase ALGO on Binance by trading it on the exchange. You will need to use a token in a trading pair with ALGO such as BNB or BUSD.

            2. Is ALGO a coin or token?

              ALGO is a coin with its own Pure Proof of Stake blockchain.

            3. What is ALGO used for?

              ALGO has three primary use cases:

              1. To pay transaction fees on the Algorand blockchain.

              2. To stake and possibly become a block proposer or validator.

              3. To hold in a non-custodial wallet and earn ALGO rewards with every successfully-added block.

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