Here's the latest analysis update for ALGOUSDT:
Current Market Sentiment: The overall market sentiment for ALGOUSDT is bullish, with several indicators suggesting a strong buy signal. The Relative Strength Index (RSI) is climbing slowly but surely, and the falling wedge boundaries are being respected.
Key Levels:
- Resistance Levels: $0.2689, $0.2920, $0.3271
- Support Levels: $0.1122, $0.1170, $0.1218
Technical Analysis:
- Falling Wedge Breakout: Confirmed on the 3-day timeframe chart, with a midterm target of $0.25
- Inverse Head & Shoulder Pattern: Still valid on the weekly chart, with targets ranging from $0.2689 to $0.7145
- Bullish Divergence: RSI signaling 5th wave completion (corrective)
Trade Ideas:
- Long Position: Enter around $0.1558, with targets at $0.2689, $0.2920, and $0.3271
- Stop Loss: Set at $0.1140
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