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Algorand
Long

ALGO Speculation Update

552
My thoughts on ALGO by way of update from last chart. The SOS failed to hold the purple zone so probably wasn't the SOS; that is likely the next move before a more shallow re-accumulation range in the purple box. True bull run starts from there with various pit-stops along the way. Based on current price action, minimum target is $6.9 but I a believe $15 will be the eventual top.
Note
I think we are setting up for a V-shaped recovery - don't get left behind being too bearish! I am speculating we will break above the former high but fall back into this range for a final shakeout before the markup phase begins. Current price action could be the B wave of an ABC or a one-two setup with an over shooting B wave of a new 5 wave impulse - we will soon find out!
cultureofwoods
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Chart PatternsTrend AnalysisWave Analysis
cultureofwoods

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.