🟢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.
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