i agree with him
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Bullish Algorand Idea
Looking at the weekly chart for Algorand, it's worth paying attention to a developing huge head & shoulders pattern, which usually indicates the market bottom, creating a fresh higher high.
Since Algorand peaked back in November 2021, it entered a mean downtrend which lasted for approximately 700 days.
We can also see that the market developed a bit of diagonal resistance, and bears followed it all the way down.
Now, what we also see is that the market showed significant respect toward the $0.30 zone for approximately 1600 days.
Should the bulls take the opportunity to break through the key horizontal resistance and fully develop the H&S pattern, Iâm expecting #Algorand to pump to approximately $0.80, which is a key horizontal resistance previously respected by buyers and sellers.
#RamadanWithBinance #TrendingTopic #Signal #SignalAlert #signals
Looking at the weekly chart for Algorand, it's worth paying attention to a developing huge head & shoulders pattern, which usually indicates the market bottom, creating a fresh higher high.
Since Algorand peaked back in November 2021, it entered a mean downtrend which lasted for approximately 700 days.
We can also see that the market developed a bit of diagonal resistance, and bears followed it all the way down.
Now, what we also see is that the market showed significant respect toward the $0.30 zone for approximately 1600 days.
Should the bulls take the opportunity to break through the key horizontal resistance and fully develop the H&S pattern, Iâm expecting #Algorand to pump to approximately $0.80, which is a key horizontal resistance previously respected by buyers and sellers.
#RamadanWithBinance #TrendingTopic #Signal #SignalAlert #signals
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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