Technical Analysis of $ALGO
/USDT:🔥💯🚀🚀
Current Price: $0.3496
Trend: Bearish (7.85% decline in 24 hours)
Support Levels:
$0.3394 (24h low)
$0.3530 (Near current price, immediate support)
Resistance Levels:
$0.3843 (24h high, strong resistance)
$0.3846 (Maximum resistance in depth chart)
Trade Signal (Bearish Trend): Given the current trend of decline and recent price movement, ALGO/USDT appears to be in a short-term bearish pattern. A breakout below support at $0.3394 could push the price further down.
Entry Point: Consider selling or shorting near $0.3496 if the price fails to push above $0.3530, which might be a resistance point.
Target Levels (Bearish Target Predictions):
🎯 Target 1: $0.3394 (Immediate Support / 24h Low)
🎯 Target 2: $0.3330 (Further Support Zone)
🎯 Target 3: $0.3200 (Extended Downward Target)
Momentum:
The bearish momentum is favored, but caution is needed if there is a rebound towards $0.3530 or above, which would indicate a potential shift to a neutral or upward movement. Consider adjusting positions based on price action around these levels.