Algorand vs Tether (Some Bearish Signals)
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Algorand (ALGOUSDT) is on a bullish trend.
It has been moving higher and hitting new highs.
In fact, a new ATH was hit last weak but the candle ended closing red with a long upper wick; bearish.
This week candles we see ALGOUSDT moving below EMA10 (confirmation only when the weekly candle closes), another bearish signal.
And the is curving with lots of room to retrace:
We have bearish divergence as well.
These are all bearish signals.
The RSI is still strong but curving/trending down.
Growth can resume after the correction takes place (green arrows).
Thank you for reading.
Namaste.
It has been moving higher and hitting new highs.
In fact, a new ATH was hit last weak but the candle ended closing red with a long upper wick; bearish.
This week candles we see ALGOUSDT moving below EMA10 (confirmation only when the weekly candle closes), another bearish signal.
And the is curving with lots of room to retrace:
We have bearish divergence as well.
These are all bearish signals.
The RSI is still strong but curving/trending down.
Growth can resume after the correction takes place (green arrows).
Thank you for reading.
Namaste.
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