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 📈, 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 🔺, which typically signals a potential breakout.The EMA ribbon is providing dynamic resistance 🧵, indicating bearish pressure in the short term.There’s a support zone (blue box) around $350B, where buyers may step in for a rebound. 🛡️RSI is recovering from oversold levels 📈, hinting at potential bullish momentum.
Scenario 1: A breakout above the wedge could target higher levels, resuming the uptrend 🚀.
Scenario 2: A breakdown to the support zone may offer a buying opportunity 🔄.
Momentum confirmation is crucial before entry! 🧐
chart represents the ALGO/USDT liquidation heatmap on Binance over a 48-hour timeframe 📊. It shows price movements and liquidity concentrations using colored zones. Yellow and green areas indicate high liquidation zones 📍, where traders with leverage are likely getting liquidated.Purple zones suggest low activity areas.
Trade Details:
Entry : Around .0.42 📈 ( Join my Binance live for premium crypto signals )
1st TP : 0.46
2nd tp: 0.50
$ALGO
SL : 0.36 (below wedge support) ❌
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