🟢ALGOUSDT Trading Signal 📊

Timeframe: 1 hour ⏰

Pair: ALGO/USDT

Description:

📉 Channel Breakout Expected: Price moving in descending channel, anticipated upward break.

Key Levels:

· Entry: $0.1210 💰

· First Target: $0.1250 (TP1) 🎯

· Second Target: $0.1300 (TP2) 🚀

· Third Target: $0.1344 (TP3) 🌕

Technical Analysis:

📊 RSI Indicator: Downtrend supports upward movement.

📈 Moving Average 100: Trend stabilizing above.

Trading Setup:

💰 Entry Price: $0.1210

🛑 Stop Loss (SL): Set below channel support ($0.1180)

🎯 Take Profit Targets: $0.1250, $0.1300, $0.1344

Market sentiment :

📊 Bullish reversal expected in short term.

📈 Support levels at $0.1180, $0.1140.

📉 Resistance levels at $0.1250, $0.1300.

📊 Increased buying pressure observed in last 24 hours.

🔥 Algorand's strong fundamentals and partnerships.

🔄 Potential for upside movement due to market sentiment shift.

Risk-Reward Ratio:

🧮 TP1 RR: Approx. 1:2

🧮 TP2 RR: Approx. 1:4

🧮 TP3 RR: Approx. 1:6

Disclaimer:DYOR and NFA.

$ALGO

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