ALGOUSD
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#ALGO #ALGO_USDT #ALGOUSD #Write2Earn
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Algorand (ALGO) Demonstrates Strong Performance Amidst Market Volatility
Algorand (ALGO) has recently showcased notable strength, achieving its first target in a long position with a 40% gain at 10x leverage. This accomplishment underscores ALGO's resilience and potential for further upward movement.
Technical Overview :
Current Price : $0.3979
Recent Performance : Achieved Target 1 with a 40% gain at 10x leverage
Moving Averages : Indicators suggest a strong bullish trend
Resistance Levels : Immediate resistance observed around $0.42
Support Levels : Key support established near $0.35
Conclusion :
ALGO's recent performance indicates a robust bullish momentum. Traders should monitor the $0.42 resistance level; a decisive break above this could pave the way for further gains.
Pro Tip :
Utilizing leverage can amplify gains, but it's essential to manage risk appropriately. Consider setting stop-loss orders to protect against potential downturns.
Investor Advice :
While ALGO's outlook appears promising, always conduct thorough research and consider market conditions before making investment decisions. Diversifying your portfolio can help mitigate risks associated with market volatility.
#ALGO #ALGO_USDT #ALGOUSD #Write2Earn
#BinanceSquareFamily
Algorand (ALGO) Demonstrates Strong Performance Amidst Market Volatility
Algorand (ALGO) has recently showcased notable strength, achieving its first target in a long position with a 40% gain at 10x leverage. This accomplishment underscores ALGO's resilience and potential for further upward movement.
Technical Overview :
Current Price : $0.3979
Recent Performance : Achieved Target 1 with a 40% gain at 10x leverage
Moving Averages : Indicators suggest a strong bullish trend
Resistance Levels : Immediate resistance observed around $0.42
Support Levels : Key support established near $0.35
Conclusion :
ALGO's recent performance indicates a robust bullish momentum. Traders should monitor the $0.42 resistance level; a decisive break above this could pave the way for further gains.
Pro Tip :
Utilizing leverage can amplify gains, but it's essential to manage risk appropriately. Consider setting stop-loss orders to protect against potential downturns.
Investor Advice :
While ALGO's outlook appears promising, always conduct thorough research and consider market conditions before making investment decisions. Diversifying your portfolio can help mitigate risks associated with market volatility.
📈LONG: $ALGO (1D)
#ALGOUSD | #ALGO | #Algorand
Current Price $0.39
Market Cap $3.18B
Change 1h -0.66% | 24h +4.40%
Analysis: ALGORAND is showing strong bullish momentum within a pennant pattern, suggesting potential for an upward breakout. The price successfully retraced at the 38.2% Fib level, indicating a solid foundation for a continued upward trend.
Price Targets: If the pattern breaks upwards, we could see ALGORAND aiming for the previous high at around $0.64. A further push might target the broader resistance near $1.00. Keep an eye on support at $0.32 for any retracements.
Algorand's community: @Algorand Foundation
#ALGOUSD | #ALGO | #Algorand
Current Price $0.39
Market Cap $3.18B
Change 1h -0.66% | 24h +4.40%
Analysis: ALGORAND is showing strong bullish momentum within a pennant pattern, suggesting potential for an upward breakout. The price successfully retraced at the 38.2% Fib level, indicating a solid foundation for a continued upward trend.
Price Targets: If the pattern breaks upwards, we could see ALGORAND aiming for the previous high at around $0.64. A further push might target the broader resistance near $1.00. Keep an eye on support at $0.32 for any retracements.
Algorand's community: @Algorand Foundation
ALGOUSD Bull Flag giving a new opportunity to buy.
Algorand (ALGOUSD) posted last week its first red 1W candle after an impressive rally of 5 straight green weeks since the U.S. elections. This rally technically stopped on the 1W MA200 (orange trend-line), as although it crossed it, it failed to close the 1W candle above it, which resulted in last week's rejection and red candle.
The 1W RSI turned from extremely overbought (+85.00) to about turn just bullish below the 70.00 barrier. The last time we saw a similar price/ 1W RSI behavior was during the November 2020 - February 2021 rally. As you can see, both started on Bull Flag formations that initiated those impressive rallies that were supported by the 1W MA50 (blue trend-line).
When the February 08 2021 1W RSI hit 85.00 and got rejected, the price started a new Bull Flag pattern that by June 21 2021 hit the 1W MA50 and after forming a multi-week Support base, it rebounded again aggressively. The whole sequence from the November 2020 rally to the November 2021 Top was a +1200 rise.
We expect a similar development and as the dominant historic pattern of Algo seems to be a Channel Down, the next rally can complete a +1200% rally just below the pattern's top (Lower Highs trend-line) at $1.200.
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#ALGORAND #ALGOUSD #ALGO #signals
The 1W RSI turned from extremely overbought (+85.00) to about turn just bullish below the 70.00 barrier. The last time we saw a similar price/ 1W RSI behavior was during the November 2020 - February 2021 rally. As you can see, both started on Bull Flag formations that initiated those impressive rallies that were supported by the 1W MA50 (blue trend-line).
When the February 08 2021 1W RSI hit 85.00 and got rejected, the price started a new Bull Flag pattern that by June 21 2021 hit the 1W MA50 and after forming a multi-week Support base, it rebounded again aggressively. The whole sequence from the November 2020 rally to the November 2021 Top was a +1200 rise.
We expect a similar development and as the dominant historic pattern of Algo seems to be a Channel Down, the next rally can complete a +1200% rally just below the pattern's top (Lower Highs trend-line) at $1.200.
Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea!
#ALGORAND #ALGOUSD #ALGO #signals